Addressing a meeting of representatives from Uttarakhand State Cooperative Bank and DCCBs, the state cooperative minister Dan Singh Rawat announced that banks have to take an approval before sanctioning loans worth Rs 1 crore from the registrar of cooperative societies. Loans above this amount will be sanctioned from the government level.
He directed the officials to take steps to increase facilities and reduce NPAs to bring cooperative banks on par with nationalized banks.
Rawat also urged co-op banks’ representatives to be cautious in sanctioning business loans.