The Hindu Business Line : National body sees threat to co-op movement

Hyderabad, Aug. 30 Opposing certain recommendations made by the Vaidyanathan Committee, the National Federation of State Cooperative Banks (NAFSCOB) has said that putting restrictions such as upper age limit and allowing graduates to hold some posts are against the basic tenets of the cooperative movement. These would have adverse impact on the cooperative sector.

The association is also opposed to allow cooperatives to associate or disassociate from the federal structure of the sector.

Addressing a press conference here recently, Dr Bijender Singh, and Mr Vasanta Nageswara Rao, Chairman and Vice-Chairman, NAFSCOB, said in the name of infusing funds into the cooperative sector the Committee’s recommendations were taking away the democratic and Constitutional rights.

The association has convened an executive committee meeting here to discuss the fallout of the recommendations. The Federation has set up a sub-committee, headed by Mr Jagneswar, President, Orissa State Cooperative Bank, to look into the issue and come out with its recommendations. It is expected to submit a report in January next.

The sub-panel would also look into proposal to expand the base of NAFSCOB membership by including DCCBs and PACs.

APCOB plan

Mr Nageswara Rao, Chairman of AP State Cooperative Bank and former Home Minister of Andhra Pradesh, said the bank would lead a delegation to the Prime Minister, Union Agricultural Minister and Finance Minister soon.

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