Various issues related to scheduled and multi-state urban cooperative banks and credit societies will be discussed in the conference, an official statement said.
Various issues related to scheduled and multi-state urban cooperative banks and credit societies will be discussed in the conference, an official statement said.
Union Cooperation Minister Amit Shah is scheduled to address a national conference that will deliberate on the future role of the urban cooperative credit sector in the country.
The conference will discuss various issues related to scheduled and multi-state urban co-operative banks and credit societies and also felicitate those urban co-operative banks that have completed 100 years of service to the society, an official statement said.
Minister of State for Cooperation BL Verma, Honorary President of National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB) HK Patil and senior officials of the Ministry will be present in the event.
Among other issues, the conclave will discuss the recommendations of the Reserve Bank of India’s expert committee, the Banking Regulation (Amendment) Act, 2020 and its impact and development, with special reference to the role of credit societies in the financial sector scenario. The issue of regulation and taxation of State Societies and Co-operative Credit Societies.
The conclave will also felicitate those urban co-operative banks which have completed 100 years of service to the society. There are 197 such banks in the country. Urban Co-operative Banks are one of the oldest banking institutions in the country. They have been in existence for more than a century. They are banks organized and managed by a cross section of the people of the society which may include teachers, lawyers, businessmen, doctors, engineers, social workers and others who provide banking services to their members.