By tweaking the Goa State Co-operative Societies Act Manohar Parrikar govt in Goa wishes to appoint a financial expert as administrator in the state cooperative bank which has of let shown signs of decay in the wake of unmanageable CAR ratio.
Goa’s Chief Minister Manohar Parrikar has promised the Assemble to resort to capital infusion in the beleaguered Goa State Co-operative Bank Ltd (GSCBL) with the help of NABARD.
GSCB is in a bad shape with its capital adequacy ratio (CAR) in red zone, revealed an independent auditor recently. It has a capital shortfall of Rs 120 crore.
The government has talked to Nabard which is willing to sanction funds to the government, which will then be used by the state government for capital infusion into GSCBL, said the CM.