Congratulations for the newly appointed RBI Governor Urjit Patel continue to pour as Indian Cooperative desk is finding hard whom to accommodate and whom not. Last week Modi government appointed Patel thereby ending media speculation in the wake of Raghuram Rajan’s end of tenure.
We reproduce below a few more comments on Patel’s elevation and expectation of the cooperative banking sector from him
Laxmi Das, Chairman, Kangra Cooperative Bank
”On behalf of Kangra Cooperative Bank I, congratulate the new Reserve Bank of India Governor Urjit Patel as well as welcome the decision taken by Narendra Modi and Union Finance Minister Arun Jaitley in this regard.
I would like Patel to focus on several issues allowing cooperative banks to collect tax from their members and deposit to the government through HDFC bank as before.
Another issue, these banks can do their business in limited areas and the newly appointed governor should enhance the scope by amending norms. And lastly, cooperative banks should not be converted into private entities.
Jai Prakash Gulati, Chairman, Keshav Sahkari Bank
It is a right decision taken by the Modi government and as the Deputy Governor Urjit Patel had curbed inflation and
Subhash Behar, Chairman, Udham Singh Nagar DCCB
I welcome to appoint the RBI governor Shri Urjit Patel who had suggested the path to get inflation down to 4 percent in the medium term.