Gujarat State Cooperative Union, Ahmedabad had organized a Seminar for the Officers of the Cooperation Department of Gujarat State on the theme of “Banking Regulation Act (Amendment) 2020 ” made for Cooperative Banks last week at Gandhinagar.
This seminar was inaugurated by Ghanshyambhai Amin, Chairman of Gujarat State Cooperative Union. Ishwarsinh T Patel, Minister of Cooperation, Gujarat State and D P Desai, State Registrar, Cooperative Societies graced the seminar as Chief Guests, informs a press release.
In his inaugural address Amin, said that the Banking Regulation Act for Cooperative Banks has already come into force with effect from 29th September 2020 and therefore it is absolutely essential for all District Registrars, Officers and Office bearers as well as Office bearers of Banks to have thorough understanding and knowledge about the Banking Regulation Act.
Explaining the Banking Regulation Act, Amin stated that earlier there was dual control dual control over Cooperative Banks i.e. Control of Registrar for the management affairs and that of RBI for financial and credit policies of Cooperative Banks.
But now there is almost full control of RBI over Cooperative Banks and there is little control of Registrar pursuant to the implementation of the Banking Regulation Act, he added. Delving deeper into the details of the Act, Amin enlightened the participants on every single section of the amended Act.
Ishwarsinh Patel, Minister of Cooperation of Gujarat State emphasized for the growth and development of the Cooperative Activities in the State and guided the participants of the Seminar.
D P Desai, Registrar of State and Chief Guest of the event, also guided the participants by making special and in-depth analysis of the B R Act Amendment-2020.
Jatinbhai Nayak, the Subject Expert for Seminar also guided the participants with the elaborate explanation for various sections of B.R. Amendment Act. Nayak also discussed and deliberated on the future of the Cooperative Banks.
Welcoming the Guests and participants of the Seminar, Dr Rajendra Trivedi, Executive Officer of Gujarat State Cooperative Union apprised about the various activities and functions being carried out by the State Cooperative Union.