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Bhopal Posted On Tuesday, January 12, 2010 | By Our Staff Reporter
Bhopal, Jan 12:
Minister for Cooperatives and Public Health Engineering Gaurishankar Bisen has asked the cooperative banks to take stern steps against major defaulters and if needed, put up hoardings containing their names on main crossings. Bisen was addressing a meeting yesterday, which was convened to discuss ways to help weak cooperative banks overcome their problems and get empowered.
Those present at the meeting included Commissioner Cooperatives Arun Kumar Bhatt, managing director of MP State Cooperative Bank Sushil Kumar Mishra, presidents of nine weak cooperative banks including Seoni, Damoh, Gwalior, Guna, Mandla, Rewa, Satna, Shahdol and Sidhi, Chief Executive Officer and Deputy Commissioner Cooperatives.
Minister for Cooperatives Bisen said that all the cooperatives banks in the state are to be upgraded by 2012 as per directives of Reserve Bank. He said that those banks, which are still unable to comply with Section-11 will have to undertake special efforts in this connection.
Bisen instructed to take up special efforts for helping weak banks overcome their problems and get empowered.
Bisen told the weak banks that the state government is with them. The government will help them as per Vaidyanathan committee recommendations and through other ways but the real hard work will have to be done by the banks themselves. He said that the results of these efforts should become visible during the current financial year itself.
At present, there are 38 district cooperative banks are in the state. Earlier, 28 of these banks were unable to comply with Section 11 (1) of VR Act. Due to government's efforts during the last 3-4 years most of these banks have become able to comply with this section and only a handful of cooperative banks have remained in the category of weak banks.
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Sunday, August 01, 2010