After the report of Sahakar Bharati opposition to Yogi govt move to merge DCCBs was published, reports have come detailing the govt’s grand plan.
An expert panel formed by the UP govt on the issue has advanced the idea of creating a single state-run lender in Uttar Pradesh merging all the cooperative sector banks with the state.
The merger will lead to the rise of the state Co-operative Bank which will comprise more than 1,000 branches with Rs 35,000 crore, which could even exceed Rs 50,000 crore in a few years down the road.
The idea is to merge UP Co-operative Bank (UPCB), UP Sahkari Gram Vikas Bank (UPSGVB) and 50 district co-operative banks (DCBs).
