Posted on 20 April 2012 by Manoj Kushwah
Heralding International Year of Cooperative Keshav Sahkari bank opened its new branch in Shakarpur area of Delhi. The bank would cater to the banking needs of east Delhi.
The occasion was graced by the former Health Minister of Delhi Dr Harshvardhan and renowned economist Mr Bajranj Lal Gupta, among others.
Speaking on the occasion the Chairman of Keshav Sahkari bank Mr Yatendra Mallick said that the eve of vaishakhi was chosen for the inauguration on a purpose. As farmers reap their harvest in this month, so have we succeeded in opening this branch after hard labour, he explained.
Elaborating the merits of Shakarpur branch of Keshav Sahkari bank, he said that it is a highly modern branch with the inclusion of every latest technology. Core banking, Lockers’ facility, no-charge on the closure of accounts are some of its features, he emphasized.
Loan processing fees are also being waived for this branch. Mr Mallick also promised to start ATM and massage alert facility soon.
He recounted the tough times he had while passing through the stringent pre-conditions laid down by Reserve Bank of India in granting permission for opening of the branch.
Mr Mallick hoped that activities like opening of a cooperative bank branch would strengthen the cooperative movement in its own small way.
Posted on 28 March 2012 by Manoj Kushwah
Urban cooperative banks of National Capital Region have reacted in a mixed manner on the issue of latest RBI guidline on opening of Urban Cooperative bank with a seed capital of Rs 3 crore in place of Rs 15 lakh.
Talking to Indiancooperative.com Yatindra Mallik, Chairman of Keshav cooperative bank welcomed the move and emphasized. that it would be always better to take the opinion of urban cooperative banks before issuing guidelines. The mutual exchange of ideas would help UCBs to implement RBI guidelines better, he added.
Noble Cooperative bank supported RBI move while talking to the correspondent of indiancooperative.com. Noble bank is active in Noida and had to suffer the pain of shifting on accounts of Supreme Court directions against banks in residential area. V .K Sharma its CEO said that even otherwise it cost roughly Rs 50 lakh in opening a branch of a urban cooperative bank. But he resisted governmental effort to put cooperative banks on the same footing with corporate banks when it comes to regulation and supervision.
The Chief Executive of Citizen cooperative bank Shri Prem Mishra welcomed RBI move saying this would check fake banks from coming into existence. Such a step would also reduce the incidence of closing down of cooperative banks which are started without viable capital, he added.
Many other banks such as Jamia Cooperative bank felt that Rs 3 crore is a big amount given the nature and scope of cooperative banks. Such a move by RBI would discourage many prospective do-gooders who intend to help those marginalized sections of society no body is bothered with, they argue.
Posted on 06 January 2012 by Manoj Kushwah
Yatendra Malik Chairman of Keshav Sahkari bank has strongly opposed any further addition to the RBI’s power to exercise control over the cooperative banks as it barely has a handle on what the cooperative bank means. It is illogical of the RBI to compare cooperative banks with the national banks.
The comparison is unfair and shows RBI’s confusion of categories. While the national banks are high profile and large scale, the cooperative banks are much smaller catering to the poor and the middle class, added Mr Malik.
The same parameters cannot apply to both. The RBI has failed to grasp the nature and culture of the cooperative banks and it keeps trotting out fundamentally flawed reflections on the cooperative sector banks.
The direct tax code has also issued from this incomprehension, said Yatendra Malik Chairman of Keshav Sahkari bank while talking to the indiancooperative.com correspondent here in Delhi.
According to Malik, Keshav Sahkari bank was founded in 1996. Presently the bank has a solitary branch in Karolbagh but it is working hard on the twin goals of increasing its net profits and establishing new branches.