The Co-operative Bank Employees Federation (West Bengal), under the stewardship of Bank Employees Federation, organised a day long sit-in-demonstration on Monday.

According to Sudipta Saha Ray, General Secretary, the Federation also organised a rally to put forth its demands to reorganise the co-operative credit structure in the country.

Developing co-operative consciousness among the various stakeholders of cooperative banking structure; exempting smaller co-operative banks from the income tax net; capital infusion in weaker co-operative banks and closer co-ordination between Reserve Bank of India and Government Registrar of Co-operative Societies are some of the key demands of the Federation.

“Co-operative banks are under severe stress due to the policy of the Government. The co-operative credit structure in the country in general and in West Bengal in particular is infringed by various structures like the chit fund companies. These need to be regulated and supervised by the government to help the co-operative movement in the country,” Ray said.

(This article was published on December 10, 2012)
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