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Resentment among Bank Directors

CHANDIGARH: Resentment is brewing among the Directors of the Chandigarh State Cooperative Bank over the “powers” of Assistant Registrar, Cooperative Societies to a General Manager of the Bank who is on deputation from Harco Bank of Haryana.

According to some of the Directors, Risal Singh Sangwan was transferred to the Chandigarh State Cooperative bank as General Manager from Harco Bank last year. Interestingly, the UT Administration also gave him the charge of Assistant Registrar with the power to listen to cases relating to cooperative matters.

This has created a virtual anomaly as this officer notes down the proceedings of the meetings of the Board of Directors in his capacity as General Manager but can also annul, modify or confirm them exercising the powers of Assistant Registrar.

The Directors point out that since Harco Bank and Chandigarh State Cooperative Bank are both cooperative societies, Mr.Sangwan is virtually an employee of the cooperative society and can, therefore, not be given the powers of the Assistant Registrar which should normally vest in a Government employee.

A Director said that earlier too Government employees used to be posted as Assistant Registrar. It was only a recent occurrence that a senior bureaucrat of the Haryana cadre on deputation with the Chandigarh Administration and holding the charge of Registrar,Cooperative Societies had reportedly changed the rules.

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