D N Thakur, a retired govt official turned cooperator who has been closely associated with the idea of an umbrella organization for UCBs since the start claims that Umbrella is going to be much bigger that the Netherlands’ RABO Bank. “It is in fact going to be the biggest bank in the world” are his words.
It bears recall that during the presentation of Sixth Bi-Monthly Monetary Policy Statement, RBI talked of setting up Umbrella Organization for urban cooperative banks sooner than later. The exercise for Umbrella had started in 2006 and the news was hailed across the UCB sector.
Showing a copy of the press release of RBI to this reporter, a jubilant Thakur said “see the timing; I have taken VRS from the govt and our dream project gets RBI nod”. “If this is not a divine intervention in favor of the cooperative sector what else it is?” he asked.
Thakur’s claim of Umbrella going to be the biggest bank in the world was not without logic of its own. Explaining he said “umbrella would unite all UCBs in one fold in the first phase but in the second phase it has to go out to villages to be meaningful”, he added.
“I see PACS numbering one lakh in the country ultimately becoming part of this umbrella” said Thakur explaining the huge reach the Umbrella can have in course of time. “PACS are being computerized and CBS systems are being developed for them; there would not be any hitch in their coming to the Umbrella fold”, said a confident Thakur who left a cushy job as Deputy MD of NCDC to serve cooperatives and become part of the co-op movement.
It bears recall that NCDC has pledged Rs 200 crore corpus fund for Umbrella Organization with other Rs 200 crore coming from the UCB sector. Thakur is said to have played a crucial role in NCDC agreeing to pledge this money.
Besides other Committees, Thakur was also part of the latest NAFCUB committee which submitted its draft to RBI on how to implement the idea of Umbrella in the Indian context.
Having taken VRS from the govt, Thakur is busy these days in giving shape to his idea of a successful cooperative. Sometimes he is busy with Sahakar Bharati officials and at other times he can be seen talking with the leaders of the NCUI. “I am sure the future of an agrarian nation like that of India can be shaped only through co-operatives and I am working for the same consulting all the stake-holders,” he added.