Pune: Deshmukh asks UCBs to adopt PACCS

The Cooperative Minister of Maharashtra Subhash Deshmukh has called upon Chairmen and CEOs of leading urban cooperative banks of Pune district with deposits of more than 500 crore to play an active role in strengthening PACCS. The meeting was organized by Pune District Urban Cooperative bank Association, the apex body of Pune UCBs in state.

Explaining the purpose of meeting to Indian Cooperative on the phone, Minister Subhash Deshmukh said “There are more than 25,000 PACCS in the State and if these leading UCBs agree to adopt 5,000 societies each the co-operative scenario of the state would change for the better”, he underlined. “I believe that UCBs of state have a substantial presence in the rural areas”, he added.

“Because of unemployment the youths of rural areas are forced to migrate to other places but things would change if each UCB adopts PACCS societies creating employment opportunities for rural youths in the process. Besides, UCBs would also benefit as they would be able to generate new customers”, Deshmukh explained.

Representatives from more than 20 UCBs including leading banks such as Saraswat Bank, Cosmos Bank, Janata Sahakari Bank, Vidya Sahakari Bank, Janseva Sahakari Bank, Muslim Cooperative Bank, Pune People’s Cooperative Bank, Pune Urban Cooperative Bank and others were present on the occasion.

On this occasion the Minister also touched upon the long pending demand of “recovery blues” plaguing the urban cooperative banking sector. “Earlier several representatives from UCBs had met me on the issue of amendment in the co-op Act to deal with the legal hurdles in recovery of loans; I promise you, we will amend laws sooner than later”, the Minister is believed to have said.

“I am ready to resolve and address each and every issue facing you ”, he assured on the occasion.

Talking to this correspondent Subhash V.Mohite Chairman of Pune District Urban Cooperative bank Association was thankful to the Minister and said “Cooperative Minister of Maharashtra himself took the initiative and called me to organize the meeting. The minister is positive towards the cooperative sector of the state”, said Mohite who hosted the meeting.

There are about 52 Urban Cooperative Banks in Pune district of Maharashtra but just a handful of them have deposits of more than 500 crore. We are now planning to call the meeting of all UCBs of Pune for a panel discussion”, said Association President Mohite.

The meeting lasted about three hours.