The Hindu : Business : Task force for rural co-operative banks

Online edition of India's National Newspaper
Wednesday, Aug 11, 2004

Business

Business

Task force for rural co-operative banks

By Our Special Correspondent

NEW DELHI, AUG. 10. The Union Government has appointed another task force to prepare an action plan for reviving rural cooperative banking institutions. It will also suggest appropriate regulatory framework and has been asked to submit its report by October 31.

The task force has been asked to recommend an implementable action plan for reviving the rural cooperative banks, taking into consideration among other things, the main recommendations made by various committees in this regard.

It has also been asked to suggest an appropriate regulatory framework and the amendments that might be necessary for the purpose in the relevant laws and also to make an assessment of the financial assistance that the cooperative banking institutions would require for revival, along with the mode of such assistance, it sharing pattern and phasing.

The task force can also suggest any other measures required for improving the efficiency and viability of rural cooperative institutions.

The Chairman of the task force is A. Vaidyanathan, Madras Institute of Development Studies, Chennai. Its members are: Rama Reddy, President, Sahavikasa Cooperative Development Foundation, Hyderabad, M. S. Sriram, Indian Institute of Management, Ahmedabad, Representative of Department of Agriculture and Cooperation and Representatives of Governments of Orissa, Uttar Pradesh and Maharashtra.

While Y. S. P. Thorat, Managing Director, NABARD, would be the Member Secretary, A. V. Sardesai, Executive Director and the Legal Officer, Reserve Bank of India, Mumbai, would be the permanent invitees of the task force.

Printer friendly page
Send this article to Friends by E-Mail

Business