Addressing the first meeting of the Governing Council of Niti Aayog, Chief Minister of Jharkhand Raghubar Das raised the role being played by the cooperative bank in the state and urged better coordination with NABARD for them.
Underlining that the state cooperative banks has opened 50,000 new bank accounts under the Prime Minister’s Jan Dhan Yojna, he said that all the benefits like accident insurance and others is being provided by the state from its own resources which is why the state cooperative banks required proper cooperation from NABARD.
While Urban Cooperative banks are regulated by RBI, cooperative banks have duel control of both the state government and NABARD.
Mr Das also used the occasion to raise the issue of recommendation of the 13th Finance Commission. Noting that the state was to get a total of Rs 7238 crore but has received only Rs 4929 crore so far, he said the release of Rs 2300 crore is still awaited and it should be given at the earliest.
The first meeting of NITI Ayog was presided by the Prime Minister Narendra Modi in which several CMs participated and vowed to strengthen cooperative federalism.
