The apex body of urban cooperative banks-Nafcub has finalized the venue for extending thanks to Union Home and Cooperation Minister Amit Shah for resolving the long-standing demands of urban cooperative banks.
The event is set to be organized at the Bharat Mandapam, Pragati Maidan, where the G20 summit was organized, on 12th October 2023 at 6:00 P.M, followed by a dinner.
Meanwhile, the Nafcub team in the leadership of its President Jyotindra Mehta is giving the final touches to the preparations.
Sources said, more than 150 delegates representing Multi State Cooperative Banks (Scheduled and Non-Scheduled banks) will grace the occasion. The representatives from three largest urban cooperative of India i.e. Saraswat Cooperative Bank, SVC Cooperative Bank and Cosmos Cooperative Bank have confirmed their participation.
It is worth repeating that the first event of this kind organized by the Nafcub for the representatives of urban cooperative banks at Vigyan Bhawan, had several issues related to UCBs placed before Shah. Secondly, in the span of around 16 months, under the leadership of Amit Shah many long pending issues were resolved underlining the commitment of the Union Cooperation Minister to the cooperative sector.
Recently the RBI had allowed Tier 3 and Tier 4 urban cooperative banks to be included in Schedule II of the RBI Act 1934 and get ‘Scheduled’ status. At present, there are more than 120 UCBs in tier 3 and tier 4 categories. 52 UCBs are already scheduled.
Besides, there are many other issues related to UCBs, which were resolved after Shah took over. Such issues include opening of branches of UCBs, provision of OTS of outstanding loans, providing door-step banking services, doubling individual housing loan limits and others. The latest one is extending gold loan limits.