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TMI BlogScheme for Revival of 23 unlicensed District Central Cooperative Banks in Uttar Pradesh, Maharashtra, West Bengal and Jammu & KashmirX X X X Extracts X X X X X X X X Extracts X X X X ..... Scheme for Revival of 23 unlicensed District Central Cooperative Banks in Uttar Pradesh, Maharashtra, West Bengal and Jammu & Kashmir - News and Press Release Dated:- 7-11-2014 - News - The Cabinet at the meeting chaired by the Prime Minister, Shri Narendra Modi gave its approval to the following: (i) To implement the Scheme for Revival of 23 unlicensed District Central Cooperative Banks (DC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CBs) in four States. These are 16 in Uttar Pradesh, three in Jammu Kashmir, three in Maharashtra and one in West Bengal. Under the Scheme, the total capital infusion required for revival of these 23 DCCBs would be ₹ 2375.42 crore, out of which the commitment from the Central Government would be ₹ 673.29 crore, from State Governments ₹ 1464.59 crore and from NABARD ₹ 237. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 54 crore. (ii) The Gol`s share of ₹ 673.29 crore would be released through NABARD as interest-free loan and would be converted into grant on fulfilment of conditionalities/deliverables outlined in the Scheme which, among other things includes bringing the NPAs to at least half of the current levels by 31.3.2017; making 15 percent growth rate of deposits for next two years; drawing up of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... monthly Monitorable Action Plan; placement of competent CEOs fulfilling `Fit Proper` criteria; and putting Corporate Governance Systems in place. The assistance from NABARD would be in the form of loan to the respective State Governments under Section 27 of NABARD Act, 1981. The Scheme for revival of these unlicensed DCCBs will help in revival of these cooperative banks. This will result i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n protecting the interests of depositors and catering to the credit needs of farmers. Once revived, these cooperative banks would become eligible for obtaining licenses from RBI for continuing their operations in rural areas and would also be able to achieve CRAR requirement prescribed by RBI. This means 7 percent CRAR by 31st March, 2015 and 9 percent CRAR by 31st March, 2017. For the purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of implementation of the Scheme, a tripartite agreement in the form of Memorandum of Understanding (MoU), stipulating conditionalities and deliverables, will be signed between the Central Government, concerned State Government and NABARD. During the implementation of the Scheme, operations of these 23 unlicensed DCCBs would be closely monitored by NABARD and RBI, so that they meet the licensing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... requirement within the time frame as prescribed in the Scheme. The list of the places where the DCCBs are located is given below: Uttar Pradesh: 1. Deoria 2. Bahraich 3. Siddharth Nagar 4. Sultanpur 5. Jaunpur 6. Hardoi 7. Basti 8. Ballia, 9. Azamgarh 10. Gorakhpur 11. Fatehpur 12. Sitapur 13. Varanasi 14. Allahabad, 15. Ghazipur and 16. F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aizabad Maharashtra: 17. Buldhana 18. Nagpur 19. Wardha Jammu Kashmir: 20. Baramullah 21. Anantnag 22. Jammu West Bengal: 23. Birbhum - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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