The idea of forming a separate federation at National Level for the District Central Cooperative Banks, has become a thorny issue for co-operators, especially for the leaders connected with National Federation of State Co-operative Banks (NAFSCOB).
Wary of the idea, Nafscob Chairman Ravinder Rao said, “The idea of a new federation for DCCBs is totally unacceptable because we are already working to strengthen the rural cooperative banking structure”.
“We are not only raising the issues related to State Cooperative Banks but also highlighting the issues pertaining to district central cooperative banks. There may be some error in the name of Nafscob but we will change it accordingly”, he asserted.
Rao further added, “Nafscob has done many new studies on Rural Short-term Cooperative Credit Structure given by the Ministry of Cooperation. We are also organizing a National level Seminar on Vision for Amrit Kal (2022-2047) by & for STCCS in Chennai on 28 April 2023. All SCBs, DCCBs and PACS will be delegates”.
“Though NAFSCOB is the only organization addressing the issues of DCCBs & PACS, this seminar may lead to creation of a United Forum in appropriate form. Need of the STCCS”, he added.
In his reaction, Nafscob MD Bhima Subramanyam said, “The formation of a new federation will be a failure and it will weaken the rural cooperative bank movement. There should be one federation for Short Term Credit Structure”.
“We should come forward to work together instead of creating a new federation. For many years, we have been raising the issues of DCCBs as well as PACCs and will also make the necessary change in the Nafscob structure in the interest of the latter, if needed”, he added.
It is reported that the said issue also came up for discussion during the board of directors meeting held on Monday at Mahabaleshwar, Maharashtra.
It bears recall that the Maharashtra based Satara District Central Cooperative Bank called a meeting in association with several district central cooperative banks of the state in Mumbai on Monday to discuss several challenges before DCCBs, in which constituting the National Level Federation of District Central Cooperative Banks (NAFCDOB) was echoed.