UCB: Azad Singh forsoft approach towards UCBs

The Chief Executive Officer of Delhi- based Citizen Cooperative Bank, Mr Azad Singh has demanded a soft approach towards Urban cooperative banks from the regulator. We receive no special grant from the government and we are wholly self-made, asserted Mr Singh in an interview with the Indian Cooperative.

Our bank has never erred and is evident from the RBI record. We follow  RBI’s guidelines true to the letter, he added.

Urban co-op banks mostly cater to the needs of poor and we give loans upto Rs 2 lakh. For business purpose we give loan upto one crore and for housing we give loan upto Rs 30 lakh, Azad Singh shared with this correspondent.

Singh did not forget to congratulate himself and added that since the time he has taken over, the bank has been on the path of growth. We earned a net profit of Rs 40 lakhs this year, he said.

But he repeated the general complaint of cooperators that cooperative bodies should be exempted from the Income Tax. We are into public service and cater to unbankable segment of the population, he reminded. He has pinned hopes on the Modi government in this regard.

A jubilant CEO informed that Citizen Co-operative bank is soon going to open a new branch in across Yamuna. On the issue of election, he however clarified that no election has taken place in the UCB for the last nine years.