A delegation led by Nitin Patel, Chairman of Maharashtra-based leading bank-Satara District Central Cooperative Bank met Nabard Chairman G.R Chintala at Mumbai on Tuesday and raised many issues pertaining to district central cooperative banks especially revision in the Credit Monitoring Arrangement (CMA) scheme guidelines.
The delegation’s other members included bank Vice-Chairman Anil Desai, Director and Maharashtra Legislative Council Speaker Ramraje Nimbalkar, Pradeep Vidhate, Rajendra Rajpure, CEO Rajendra Sarkale, and others were present.
Soon after the meeting, talking to the Indian Cooperative the bank CEO Rajendra Sarkale said, “It was a fruitful meeting and a host of issues related to the district central cooperative banks were discussed. The Nabard Chairman patiently listened to our issues and assured us to resolve them sooner than later”.
“We have raised many issues including revision in the CMA scheme guidelines, provide benefit to DCCBs also under Pradhan Mantri Awas Yojana, an extension of the housing and individual loan limit and others” informed Sarkale.
He further added that “Since 2008 there is no revision done in the CMA scheme guidelines and we have asked the Nabard Chairman to take a call on this matter. At present we are not allowed to lend a single cooperative sugar factory not exceeding 60 percent of the capital fund of the bank and asked to extend it 100 percent for those DCCBs which are A grade. Our capital fund is around 535 crore”, added Sarkale.
In the meeting, the members of the delegation also requested to extend the housing loan limit from the existing Rs 30 lakh to Rs 80 lakh and the individual loan limit to Rs 1 crore. “Besides, other banks are giving benefit to the customers under the Pradhan Mantri Awas Yojana but DCCBs banks are not listed in the scheme. We have asked the Nabard Chairman to look into the issue”, the bank CEO informed.
Earlier, when the Union Cooperative Secretary Devendra Kumar Singh had visited the co-ops at Pune, the representatives of three District Central Cooperative Banks made a presentation on the wish list of DCCBs before him.
Satara DCCB had crossed the business mix of Rs 14k crore in the 2020-21 FY. Besides, the bank succeeded in maintaining the tradition of net NPA at Zero Percent. The bank earned a gross profit of Rs 150 crore and a net profit of Rs 65 crore in the said FY.