An expert committee, headed by Prakash Bakshi, Chairman, National Bank for Agriculture and Rural Development (NABARD), has been constituted to assess the role played by the State and district central cooperative banks in fulfilling the requirement of agriculture credit, the primary purpose for which they were set up.
In a statement, NABARD said the eight-member committee had been constituted to examine the functioning of the three-tier short-term cooperative credit structure (STCCS).
Reserve Bank of India, as per the Annual Policy Statement announcement for 2012-13, has constituted the committee to make an in-depth analysis of the STCCS and to examine various alternatives with a view to reducing the cost of credit and for enhancing agriculture credit. It would also study the feasibility of having appropriate structure of the existing STCCS.
The committee would identify cooperative banks that may not be sustainable in the long-term even if some of them have met the diluted licensing criteria for the time being. It would suggest mechanism for consolidation by way of amalgamation, merger, takeover and liquidation. The panel would also suggest pro-active measures that need to be taken in this direction by the cooperative banks themselves, the Central and State governments, RBI and NABARD.
The committee has invited comments and suggestions on these issues, which may be e-mailed to rbicomm@nabard.org by October 25, the statement said.
In a statement, NABARD said the eight-member committee had been constituted to examine the functioning of the three-tier short-term cooperative credit structure (STCCS).
Reserve Bank of India, as per the Annual Policy Statement announcement for 2012-13, has constituted the committee to make an in-depth analysis of the STCCS and to examine various alternatives with a view to reducing the cost of credit and for enhancing agriculture credit. It would also study the feasibility of having appropriate structure of the existing STCCS.
The committee would identify cooperative banks that may not be sustainable in the long-term even if some of them have met the diluted licensing criteria for the time being. It would suggest mechanism for consolidation by way of amalgamation, merger, takeover and liquidation. The panel would also suggest pro-active measures that need to be taken in this direction by the cooperative banks themselves, the Central and State governments, RBI and NABARD.
The committee has invited comments and suggestions on these issues, which may be e-mailed to rbicomm@nabard.org by October 25, the statement said.
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