The National Federation of State Cooperative Banks (NAFSCOB) organized the National Seminar on “Future of Rural Cooperative Banks” in the Short Term Cooperative Credit Structure (STCCS) in Hotel Courtyard by Marriott, Mumbai International Airport, Mumbai, India on 23 September 2021. The National seminar aimed to facilitate a wide range of consultations on the most crucial issues like
- Banking Regulation (Amendment) Act 2020: Issues related to Statutory Provisions applicable to State Cooperative Banks (SCBs) and District Central Cooperative Banks (DCCBs)
- Ministry of Cooperation: Vision and Mission, Objectives & Functions: Where do RCBs stand?
- Delayering: Amalgamation/Merger of DCCBs in SCBs- A 3-decade long directive!
- Constitutional (97th Amendment) Act 2011 Vs Supreme Court Verdict 2021
- Policy, Monetary, Regulatory and Supervisory Measures to address issues emerging out of the spread of COVID-19-Impact Assessment
- Issues related to Governance and management in SCBs & DCCBs
- Adoption of Technology
The seminar was attended by Dr. Chandra Pal Singh Yadav, Chairman, KRIBHCO; Mr. Dileep Sanghani, President, NCUI; Dr. Chintala Govinda Rajulu, Chairman, National Bank for Agriculture and Rural Development (NABARD); Dr. Bijender Singh, Ex. MLA & Chairman, NAFED; Dr. Sunil Kumar Singh, MLC & Chairman, Bihar State Cooperative Marketing Union Ltd. (BISCOMAUN); Mr. G. H. Amin, Chairman, Cooperative Bank of India (COBI); Mr. Konduru Ravinder Rao, Chairman, NAFSCOB; Mr. Bhima Subrahmanyam, Managing Director, NAFSCOB; and Dr. Sundeep Kumar Nayak, IAS, Managing Director, National Cooperative Development Corporation (NCDC).
Dr. Rajulu delivered the keynote address and the participants discussed the need
- Dr. Rajulu delivered the keynote address and the participants discussed the need
- For detailed consultations on the applicability of statutory provisions to SCBs/ DCCBs under the BR Act 2020.
- To make representation to the new Ministry of Cooperation regarding issues related to Rural Cooperative Banks.
- To consider the seriousness/impact of delayering on three-tier Short Term Cooperative Credit Structure (STCCS) and accordingly act further. The participants were against delayering and amalgamation
- To encourage the adoption of technology to help SCBS/DCCBs/PACS to serve small/ marginal farmers to serve better and compete with Commercial Banks and Private Banks.
- For revision in National Cooperative Policy – 2002.
The seminar also provided an opportunity to understand the impact of the amendments in the banking-related activities on cooperative principles, identity ethics, values and highlighted the need to assess these and justify the salient features in national policy. The discussions further revolved around the to expedite the amendments in MSCS Act 2002 to impress upon the incorporation of the identified eight areas of the amendment, protect and support the 100-year-old cooperative movement in India, focus on training of cooperative personnel and computerization, and adoption of good governance and best practices for possible replication.
The participants noted that the cooperatives should be developed as a one-stop shop for farmers and should cover the last man in the system for rural credit disbursement.
