NCUI Governing Council meeting held in Rajkot Saturday debated the issue of the RBI recommendation calling for conversion of urban cooperative banks into commercial entity.
Soon after the meeting, the GC members also held a press conference underling the need to do away with perilous RBI recommendations. “This does not concern urban cooperative banks alone but the entire cooperative movement. The recommendations would sooner than later affect every single cooperative unit in the country”, warned Jyotindra Mehta- the host of the meeting.
Though there were about eight GC members present in the press conference the talking was mostly done by three- President Chandra Pal Singh, Vice-President G H Amin and the government nominee Jyotindra Mehta.
Later talking to Indian Cooperative on phone Mehta once again reiterated his points and said the recommendation would spell destruction of the cooperative movement.
The issue of extension of Chief Executive Dr Dinesh did not come up in the meeting, informed several GC members to Indian Cooperative.