The lender of co-op banks-Nabrad held a state credit seminar in Panaji in which the Chief Minister Manohar Parrikar also participated. Nabard has pitched in to modernize operations of PACS in the state.
Parrikar lauded the role being played by Nabard in the state. Nabard has provided support for RuPay KCC cards and has also installed micro ATMs at State cooperative bank and its branches.
Parrikar felt that with the help of Nabard Goa could go cashless sooner than later. Observers say Goa’s CM is trying every possible course of action to make the cooperative movement stronger in the state.
Meanwhile Navhind Times reports that Nabard has suggested recapitalization to turn around Goa State Cooperative Bank, which has been struggling for revival. The bank has been under the care of an administrator.
Nabard says GSCB’s business shrunk by over 10 per cent this year as its CRR is also in negative according to RBI. However, the GSCB is the third largest bank in the state in terms of branch network having 65 branches.
According to Nabard, the GSCB as the apex bank in the cooperative sector needs to be bolstered to cover the farm sector together with primary agricultural cooperative societies.