NAFSCOB elects its Chairman

NAFSCOB has elections on 10th June, 2010. The  Chairman and  five Vice chairmen of NAFSCOB are to be elected . It has 31 state cooperative banks as its members.

The National Federation of State Cooperative Banks Ltd. (NAFSCOB),  was established with a view to facilitate the operations of State and Central Cooperative Banks in general and Development of Cooperative Credit in particular.

It aims at providing  a common forum to the member banks to examine the problems of cooperative credit, banking and allied matters and evolve suitable strategies to deal with them.

The board of directors of NAFSCOB will be constituted by 21 members.Nomination will be accepted till 2p.m. Though there are 31 state cooperative banks, the nomination for 21 positions are generally held with consensus . Mr Bhima Subhrahmanyam , the Managing Director of NAFSCOB is proud of the fact that election process has always remained smooth and trouble free.

The newly constituted board will elect Chairman and five Vice-Chairman same day. If the process remains unanimous, results will be known by 2:30 in the afternoon. In case of election, the process may hang on till 3:30 in the afternoon.

Talking to Indian Cooperative.Com the incumbent Chairman, Dr Bijender Singh “ I will  be a candidate for a second term if my fellow board members  desire. But sounding out other State Cooperative Chairmen, Indian cooperative found out that Dr Singh has great influence on them. A few of them openly said that they will file nomination only after getting green signal from Dr Bijender Singh.