NABARD Monitors Performance of Cooperative Banks to improve their Functioning

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..... NABARD Monitors Performance of Cooperative Banks to improve their Functioning
News and Press Release
Dated:- 25-11-2011

Press Information Bureau Government of India Ministry of Finance 25-November-2011 18:50 IST There are 31 State Cooperative Banks, 370 District Central Cooperative Banks (DCCBs), 20 State Co-operative Agriculture and Rural Development Banks (SCARDBs) and 697 Pri .....

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..... mary Co-operative Agriculture and Rural Development Banks (PCARDBs) in the country. As per the information available with National Bank for Agriculture and Rural Development (NABARD) the amount of loss/profit made by Cooperative Banks in the country during 2008-09 and 2009-10 is as under : (Rs. in crore) Cooperative Banks 2008-09 2009-10 Profit L oss Profit Loss SCBs 408.78 (26) 70.61 .....

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..... (5) 491.41 (29) 208.06 (2) DCCBs 1595.23 (324) 216.10 (46) 1711.62 (326) 475.10 (44) SCARDBs $ 404.07 (12) 87.62 (7) 127.47 (10) 154.92 (9) PCARDBs 220.21 (344) 342.30 (353) 131.76 (297) 526.34 (400) (number of banks shown in bracket) Data for the year 2009-10 is provisional $ Manipur SCARDB is defunct During the inspections of the banks, various irregularities, such as non-m .....

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..... aintenance of minimum capital requirement, maintenance of Cash Reserve Ratio, Statutory Liquidity Ratio, non-compliance with various provisions of Banking Regulation Act, 1949 (As Applicable to Cooperative Societies), irregularities in sanction of loans and advances, violation of investment guidelines of RBI, etc., are being observed. The deficiencies observed in the functioning of the banks durin .....

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..... g the inspection by NABARD are being brought to the notice of the banks and the Registrar of Cooperative Societies of the State concerned with an advice to take rectification measures. These violations are being monitored/rectified through compliance mechanism. In case of serious violations, RBI has taken action by way of imposing penalty for violation under Section 46 and 47 of Banking Regulation .....

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..... Act, 1949. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to an Unstarred Question in Lok Sabha today. DSM/Hb
News - Press release - PIB .....

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