The apex body of State Cooperative Banks and District Central Cooperative Banks-Nafscob is gearing up to welcome the Union Home and Cooperation Minister Amit Shah in the National Conference of Rural Cooperative Banks, scheduled for 12th August 2022. The preparations are afoot in full swing.
Bhima Subramaniyam, the MD of Nafscob is arriving in Delhi today to coordinate with the Ministry on the nitty gritty of the event. It bears recall that the event is being organized in collaboration with the Ministry of Cooperation at Vigyan Bhawan and over 1000 delegates will attend the event.
Nafscob held an executive committee meeting to discuss preparations for the event in Virtual Mode recently, in which Chairman, Managing Directors and Chief Executives of State Cooperative Banks participated.
During the meeting, the status of nominations from SCBs, DCCBs/PACCs was reviewed and the felicitation of cooperative banks for their outstanding performance by Amit Shah was also discussed.
One of the participants said, Nafscob has divided the banks into six zones and out of 33 StCBs, around eight have completed more than 100 years of their existence whereas out of 351 DCCBs, over 153 completed more than 100 years. However, it is yet to be decided which organizations will be felicitated with awards, he said.
Besides, Nafscob Chairman Ravinder Rao, Managing Director Bhima Subramanyam, Vice Chairman Dan Singh Rawat also met the Cooperative Secretary Gyanesh Kumar on Thursday last week.
There are 33 state cooperative banks having a network of 2,072 branches and 351 district central cooperative banks having 13,589 branches across 20 states and UTs. There are 95,995 PACCs in India, according to Nabard.
Seven StCBs had accumulated losses amounting to Rs 1,232 crore. While Nagaland StCB wiped out its accumulated losses, Kerala StCB posted accumulated losses of Rs 776 crore after 13 district central cooperative banks (DCCBs) were merged with it.
Out of 351, 291 DCCBs showed profits while 60 DCCBs incurred a net loss during the FY 2020. Three-fourth of the loss-making DCCBs were concentrated in Uttar Pradesh (30%), Madhya Pradesh (22%), Punjab (13%), and Bihar (12%).
In all, 21 loss-making DCCBs in the FY2019 posted net profit during the FY2020. However, 108 DCCBs recorded accumulated losses of Rs 6,721 crore.
As of 31st March 2020, the deposits and loans and advances of DCCBs were Rs 3,45,682 crore and Rs 2,79,272 crore respectively. And the deposits and loans and advances of State Cooperative banks in the said financial years were Rs 2,10,342 crore and 1,99,943 crore respectively.