Regional Director RBI for J&K Mr D Sethy recently presided over the state level meeting of Task Force on Cooperative Urban Banks [TAFCUB] in Jammu, reported a news outlet from Kashmir. Sethy underscored the vital role played by the Tafcub in helping urban cooperative banks function smoothly.
The participants in the meeting discussed issues concerning the cooperative sector such as weaknesses in management, modernization of technology, CBS implementation, dealing with the problem of NPA , capitalization etc.
The general consensus in the meeting was that the State government should expedite enactment of the 97th Constitutional amendment in the State which will go a long way in enforcing uniformity in the State Co-operative Societies Act, shielding the cooperative banks from outside interference and ensuring their autonomous organizational character with democratic functioning.
Special Secretary, Co-operative Department, Joint Registrar, Cooperative Societies, a member from National Federation of Urban Cooperative Banks and Credit Societies. (NAFCUB), and MD/CEOs of four Urban Co-operative Banks working in J&K attended the meeting.
