Punjab Finance Minister Harpal Singh Cheema called upon the Centre to ask RBI to accept the state’s proposal of amalgamation of district cooperative central banks with Punjab State Cooperative Bank.
A press release issued by the state govt quotes the minister as saying the Union government should reinstate 2 percent interest subvention to Punjab State Cooperative Bank (PSCB), and reduce rate of interest on refinance of short-term agriculture loans from NABARD.
He also demanded infusion of capital in cooperative banks on the pattern of commercial banks and revers Capital to Risk Assets Ratio (CRAR) norms to 7 per cent.