The leading bank of Maharashtra-Satara District Central Cooperative Bank organized a one-day workshop on ‘Banking Regulation Act’ at its premises recently, in which RBI Central Board Director Satish Marathe was the keynote speaker.
The objective of the workshop was to clear the doubts on various provisions of the amended Banking Regulation Act and its impact on the cooperative banking sector.
In his speech, Marathe, said that the cooperative movement in Maharashtra has played a significant role in social and economic development of the state particularly in rural areas. In another 10 to 15 years there will be drastic change in the rural economy, he added.
Marathe also touched on several issues of the BR Act amendments like full time chairman, Board of Management, 8-year tenure for Directorship. He further added that to solve the issues of co-operative Banks Satara DCCB Bank should lead and constitute federation of DCCBs at state level and Sahakar Bharati will be willing to assist that Federation, Marathe assured.
He said PACS & DCCB’s have to become financially strong to fulfil requirements of rural people. Marathe informed that the Central government has formed a committee to recommend a 2 tier or 3 tier cooperative banking structure and a report will be submitted soon. In the country there are 350 DCC banks, out of which 50 DCC Banks are in loss”, he informed.
Addressing the participants, the Bank’s Director Shrimant Ramraje Naik Nimbalkar said, “RBI should clear all the issues of the amended Act. He also said the government had constituted a committee for recommendation of a 2 or 3 tier cooperative banking structure but considering the size of Maharashtra and the role played by DCCBs in the rural economy, it is necessary to maintain a 3-tier cooperative banking system.
“Recently co-operative banks are making available different advanced services to their customers and there are a number of challenges before cooperative banks, which RBI should address”, he underlined.
Pune DCCB Chairman Digambar Durgade said, “RBI should clarify all the points regarding the Banking Regulation act (amendment) 2020 which are there in the minds of cooperators”.
In his remarks, Jayant Patil, MLA & Chairman of Raigarh DCCB touched on different issues of DCC banks and demanded that DCCBs should be made eligible for all government Subsidy and Interest subvention schemes.
