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Money & Banking - Co-operatives
Panel on UCBs sought

Our Bureau

Coimbatore, Feb. 6

There is an urgent need to reassess the strengths and weaknesses of the urban cooperative banksaccording to the General Secretary of the All India Cooperative Bank Employees Federation Mr P. Balakrishnan.

Stressing the need for recognition of the UCBs by the Central Government as important instrument of credit, he said the Government should ensure that Professor Vaidyanathan's Task Force recommendations with reference to Agricultural Cooperative Banks vis-à-vis State Governments interference be made applicable for UCBs too. `The Government should immediately appoint an Expert Committee to explore the possibility of reviving the unviable UCBs and enhancing the overall financial viability of all UCBs.'

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