Manoj Kushwaha
The Supreme court direction to banks operating in residential areas in Noida to shut down immediately has caused much dismay among the urban cooperative bankers active in the region.
When the indiancooperative.com asked bankers’ their reaction on the supreme court’s direction, they said they would obey the court’s ruling but they would face serious difficulties of relocation.
Prem Mishra , secretary Citizen bank said that they would demand suitable space from the Noida authority so that they could continue to render their services to the local public.
The apex court has given this ruling while examining a public interest litigation in the matter.
However, Noble cooperative bank Chief Executive V. K. Sharma maintained that the citizens should have easy access to the banking services and therefore the court’s ruling might cause inconvenience to the public.
As the banks had no choice but to submit to the apex court’s direction , they would ask the Noida development authority to provide them with suitable space.
Urban Cooperative Banks are a community banking service and are generally bare of the scale of economics of the Corporate banks. Removing them from residential areas would not only prove costly for the banks but also defeat the very purpose of serving the community by being easily accessible to them.
