Page 17 - Banking Finance November 2019

CO-OPERATIVE BANK NEWS

CO-OPERATIVE BANK

NEWS
NEWS
NEWS
NEWS
NEWS

Rajasthan State Co-op Co-op bank regulatory framework likely to be

Bank releases a recruit- amended: FM
ment notification The government will set up a committee comprising two secretaries and a
Reserve Bank of India (RBI) deputy governor with an aim of
amending the cooperative bank regulatory framework, said
the Finance Minister Nirmala Sitharaman recently at the
backdrop of the recent developments at the Punjab and
Maharashtra Co-operative (PMC) Bank Ltd.
PMC Bank has allegedly enabled financial frauds amounting
The Rajasthan State Co-operative to Rs.6,500 crore by promoters of Housing Development
Bank (Apex Bank) has released a re- Infrastructure Ltd (HDIL), putting thousands of depositors and their money
cruitment notification for 715 vacan- at risk. More than two-third of the bank’s total loan book has an exposure to
cies in various positions. Candidates HDIL.
can visit the official website “I have asked secretaries of my ministry, -- economic affairs secretary and bank-
rajcrb.rajasthan.gov.in to apply for ing secretary, -to work with rural development and urban development minis-
these positions. tries to ensure that multi-state cooperatives, which also run banks to under-

The Rajasthan State Cooperative stand where there were shortcomings and look at ways in which different acts
Bank recruitment 2019 notification have to be amended," Sitharaman said at a press conference. The Finance
was released a few days ago. There Minister said that the revised framework will be submitted in the upcoming
are 47 vacancies in the Rajasthan winter session of the Parliament.
State Cooperative Bank (Apex Bank),
and 668 at district-level central co- K’taka State Apex Co-op Bank chief questioned by ED
operative banks.
in Shivakumar money laundering case
The posts for which the recruitment
process has been initiated include The Enforcement Directorate (ED) has questioned K N Rajanna, President,
those of Senior Manager, Manager, Karnataka State Apex Cooperative Bank, in relation with the investigations into
Computer Programmer, Banking As- the money laundering case against senior Congress leader D K Shivakumar.
sistant, and Stenographer. The quali- Shivakumar's brother D K Suresh, a Lok Sabha MP, and a transporter Sunil Kumar
fication requirement for each post is Sharma also appeared before the ED. According to the officials, Rajanna, a
different. Interested candidates can former MLA, was specifically questioned regarding the loan sanctioned to the
read the official notification for de- sugar factory owned by Belagavi Rural MLA Lakshmi Hebbalkar, who is a close
tails by visiting the official website.
associate of Shivakumar.

BANKING FINANCE | NOVEMBER | 2019 | 17