National Institute for Rural Banking celebrated its Silver Jubilee in Bangalore last week in which several important cooperators from NCUI to ICA to NAFCUB participated. Deputy Governor of RBI R Gandhi along with Chandra Pal Singh Yadav was also there.
Speaking on the occasion the Gandhi said the co-operative banking sector in India is facing problems and its full potential needs to be realized. The RBI functionary called for professionalism, technological sophistication and strict adherence to the cooperative principles in the cooperative banking sector.
He said cooperative banks account for a small 5 percent of the country’s banking sector and it is time they worked hard with their improved skills, infrastructure and professional management to expand their operations.
National Institute of Rural Banking is located at ICM Bangalore and Mr Vishwanthan, the former President of NCUI is heading this organization. He had invited guests from diverse fields of cooperative. G H Amin, Balu Aiyer , Mukund Abhyankar were some of the notable personalities gracing the occasion.
Deputy Governor who spoke at length on the issues of urban cooperative bank said that the recommendations of Malegam Committee Report should be implemented sooner than later.
Some banks are picking it up slowly but more than 100 banks have not even started the process, he rued.