Nabard, primarily conceived to act as a catalyst for rural development, celebrated its 30th Foundation day in Mumbai on Thursday without any participation from the cooperative banks.
It invited almost all the commercial banks but chose to sideline the cooperative banks that happen to be one of its main subjects. Only exception was the Maharashtra State Cooperative Bank but it chose not to send any representative.
Interestingly, the speakers including the Governor of Reserve Bank of India dwelt mostly on the subject of cooperatives exposing Nabard’s pettiness in the matter.
In an ideal situation Nabard and the cooperative banks should have been partners in the endeavour of developing agricultural India.
NAFSCOB, the apex federation of the cooperative banks was also ignored.
When Indian Cooperative contacted Nafscob Managing Director Dr Bhima Subranmaniyam to know his reaction he was quick to add “may be our writing frequent letters to PM and the President is not liked by Nabard”.
The story of hostilities between Nabard and Nafscob dates back to five years ago.
Nabard is not the only organization that keeps the cooperative institutions and their leaders at arm’s length. Only recently was IFFCO’s booking of Vigyan Bhawan overruled by the Environment Ministry even though the former had booked it well in advance.
Such slights have become commonplace and unless a self-less and dynamic cooperative leadership appears on the horizon the Babus would keep rubbing the cooperatives the wrong way. What an appalling commentary on a country of 25 crore cooperators!
July 13th, 2012 at 13:04
Most likely, NaBaRd had done nothing in 30years worth sharing with Co-op Banks. More so have no plans which can impress or motivate Co-op Banks in future.
July 13th, 2012 at 14:16
Hi ! I was present there. In all fairness, let us not be too critical. NABARD has consistenly been engaged with the Cooperative sector banks and the entire cooperative sector. Let us also not forget that NABARD is just one of the institutions in the co-operative eco-system. The ED of NABARD, in his Vote of Thanks categorically requested the Governor to take a compassionate view of CCBs being delicenced, keeping in view the decades of work put in by the cooperatives.
July 13th, 2012 at 15:16
In a matter of public work (*NABARD Stands for Public Service) flaws of the type Ajay has pointed out call for a plasuible explanation of NABARD. Other wise the cold tift beween two mighty Institutions continue at a cot of that “PUBLIC”
July 13th, 2012 at 22:07
In addition to what Ramesh says above, I should also add that the event in NABARD also saw launching of core banking solution for cooperatives, a unique initiative of NABARD for bringing cooperatives on a similar technology platform with other banking systems like commercial ban ks and RRBs. I too was present, and heard RBI Governor appreciating this initiative of NABARD for cooperatives, which no one else had taken so far.
It is wrong to say NABARD does not care for cooperatives.
July 15th, 2012 at 08:37
NABARD has earned a reputation amongst Primary Coop. Banks be it DCCBs or PLDBs by the virtue of being friend, philosopher & guide. It is due to continuous pleading by NABARD with the RBI that most of the DCCBs all over India got banking license from the RBI, which were pending for decades.
Yes, NABARD keeps an arm’s distance from the undue interference of the political system prevailing in Coops. which don’t allow cooperatives to flourish. There is no reason, why Coops. can’t progress like RRBs or Comm banks.