Page 23 - BANKING FINANCE November 2018

unja o rea o er e DCC in o S a e Co o
Ma ara ra S a e Co
ank
o era i e ank o en er
unja State o ern ent is read to erge the District Central Coo erati e
re ail ankin rou
anks DCC s ith the a e ank unja State Coo era
er er o C ran e ti e ank he decision as taken the state Coo era
Maharashtra State Co o erati e ti e Minister Sukhjinder Singh Randha a at a high o
MSC ank ered eeting held recentl
lans to en
aisrat Singh Sandhoo ice Chair an o ank said es
ter the retail
e ca e to kno a out this and it s a elco e ste the state go ern ent
anking sec
or the gro th and ell eing o the DCC s o the state here are DCC s
tor and co
ha ing ore than ranches all o er unja ostl in rural areas o state
ete ith
arlier Reser e ank o ndia has recentl gi en a ro al or erging the si
the ri ate sector t has ro osed a
DCC s o Chhattisgarh ith State Coo erati e ank the a e anking entit in
ne olic o erging ur an coo
the state harkhand has alread done so and erala is in the rocess o erger
erati e anks C s as ell or onl
Sahakar harati argu ent against the erala DCC s erger ent or a toss
so e ranches o C s in so e
hen se eral states the sel es su scri ed to the idea
cases So ar onl district coo era
ti e anks DC s could e erged t ears recall that ost o the ar ers in unja are de endent on coo era
ith the MSC ank ti e anks or loans hich could not e gi en ecause o the CR R issue he
erger o the DCC s ill raise the CR R to o er er cent hich in turn ill
e ha e su itted a ro osal to
hel the erged ank to enhance usiness Rs crore
the R Reser e ank o ndia to
erge the C s nstead o ank he DCC s cater to se en lakh ar ers in unja and ha e a total usiness ad
ergers e ha e ro osed erger ances o Rs crore er the ears lo ering ank argins i acted
o onl the inanciall eak ranches their iscal health said o icials
o C s said idh adhar naskar
chair an MSC ank lthough the erala Coo era i e ank o e e a li e oon
ro osal is et to e cleared the
erala go ern ent is lanning to launch the erala Co o erati e ank in si
R the MSC ank has alread re
onths erging the district and state coo
cei ed a ro osal o erger ro the
erati e anks t recei ed the uch a aited
Ru ee Co o erati e ank he MSC
Reser e ank o ndia R nod or the ne ank
ank the ain lender to
recentl he ne ank is e ected to ha e
Maharashtra s coo erati e sugar
around touch oints and a de osit o o er Rs illion said adaka all
ills S re orted a turn
Surendran inister or co o eration touris and De as o s
o er o Rs crore ith o n
he R has asked the state go ern ent to i le ent the conditions ut
unds o Rs crore in the re i
or ard in the in rinci le a ro al e ore March and a roach the
ous inancial ear
through RD or inal a ro al e are taking ste s to co l ith the
o reco er non er or ing assets or
conditions and the ank ill e or ed ithin si onths Surendran told
s o Rs crore o hich
he ank is e ected to see a erger o around ranches o district
sugar ills account or Rs crore
the ank has announced a one ti e coo erati e anks and the State Coo erati e ank ithin the ti e nitiall its
settle ent sche e n the ast it had ca ital is e ected to e around Rs illion he added
sold so e o the non unctional
he R in a letter sent to the state go ern ent on cto er has ut in lace
sugar ills to reduce its s ut
conditions including that the erala State Coo erati e ct and rules ha e to e
since it as inding it tough to sell
adhered to during the erger o the coo erati e anks and that the go ern ent
the re aining sugar ills it has no
should ensure that there are no court orders against the erger urther the State
allo ed an e tended lease eriod o
Coo erati e ank and the district coo erati e anks ha e to re are a erger
u to ears
rogra e and it has to e a ro ed in a general od ith a certain ajorit
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