Andhra Pradesh - Vijayawada   

City to host coop bank staff meet

By Our Special Correspondent

VIJAYAWADA, JULY 14. The fourth national conference of the All India Cooperative Bank Employees Federation (AICBEF) will be held at Vijayawada from September 25 to 27.

The conference will be inaugurated by the Chief Minister, Y.S. Rajasekhara Reddy, and the delegates from different parts of the country are expected to participate in it for discussing the problems faced by cooperative banks. The conference has been convened to discuss, among other things, the indifferent attitude being adopted by successive Governments at the Centre towards rejuvenation of the more than 100-year-old cooperation movement in the country. The delegates will discuss several problems facing the cooperative banking sector like non-release of the assured recapitalisation assistance funds, political interference hindering the progress of the cooperative banks and recovery of non-performing assets which and finalise their future course of action.

Informing this at a press conference, the AICBEF general secretary, P. Balakrishnan, expressed concern over the "political interference" in the cooperative banks which was adversely hitting their performance. The federation had been demanding that all the cooperative banks in the country be brought under the control of the Reserve Bank of India. However, the reluctance on the part of the State Governments to lose their control on the cooperative banking sector owing to political interference was preventing it.

On the recovery of the non-performing assets, he said that the Government on the one hand did not accept a proposal mooting the publication of the names of major defaulters facilitating stringent action against them and on the other insisting that the banks give fresh loans.

This apart, the changes in the policies of the successive Governments at the Centre were also hitting the cooperative banks.

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