Business Daily from THE HINDU group of publications
Wednesday, Sep 19, 2007
ePaper


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Money & Banking - Trade & Labour Unions
States - Tamil Nadu
‘Cooperative banks deteriorating across country’

Our Bureau

Coimbatore, Sept. 18

Representatives of the Co-operative Bank Employees’ Union plan to stage a dharna in front of Nabard offices and other places on Wednesday.

The proposed dharna, which is at the call of the All-India Co-operative Bank Employees’ Federation, seeks to draw the Government’s attention to the deterioration in the health of the cooperative banks across the country. Seeking Government intervention to resolve this crisis, the federation has urged the implementation of Prof A. Vaidyanathan’s task force recommendations — constitution of an expert committee for revamping the Urban Cooperative Banks, repealing Section 80 P of the Income-Tax Act and allow the cooperative banks to continue to get exemption from paying income-tax enhancing the refinance extended by Nabard from the current 40 per cent to 80 per cent to enable these banks extend crop loans at 5 per cent and so on.

‘Revitalise banks’

The General Secretary of the Coimbatore District Central Co-operative Bank Employees Union, Mr A. Ganesan, said the State Government should implement the task force recommendation for revitalising the short-term agricultural cooperative banks and help them wipe out the losses of agricultural and non agricultural credit. “Both the Centre and the State should jointly provide not less than Rs 1,250 crore by way of recapitalisation to all the primary agricultural cooperative banks/societies in Tamil Nadu. This capital infusion, coupled with the implementation of the task force recommendation, would put an end to dual control on these banks,” he said.

More Stories on : Trade & Labour Unions | Co-operatives | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Indians take to insurance spending in a big way


Rupee gains against dollar
Lakshmi Vilas goes live with RTGS
Bank stocks shine as Sensex gains 165 points
Munich Re Group for branch office
SBH on deposit drive
IDBI cuts fixed home loan rates
Fed will go 50 bps
Call rates close lower
Plan to set up control registry for mortgage loans in Karnataka
Merger move opposed
‘Cooperative banks deteriorating across country’
Govt must exit all but SBI: Meghnad Desai
Insurance going places
Vinayak Chatterjee resigns from IFCI board
New Tata Capital MD


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line