Page 22 - BANKING FINANCE FEBRUARY 2016 ONLINE

CO-OPERATIVE BANK NEWS

Dehradun Dist Co-op Bank gets a pat from Minister Cosmos Bank: Kale for

Dehradun District Cooperative Bank not technically strong, they would fall revival of ancient science
had recently organized its 74th Annual down.
General Meeting where rural develop- Deccan College-the Deemed Univer-
ment and Panchayati Raj Dehradun District Co-op Bank Chair- sity has arranged
Minister Pritam Singh was man Dr K.S.Rana said that an international
invited as the chief guest. the bank had earned a conference on An-
net profit of Rs 11 crore, cient Science and
Addressing over 400 Del- before tax and giving 20 Technology – Ret-
egates, Singh said the gov- percent dividend to more rospection and As-
ernment fund should be kept in coop-
erative banks instead of private banks than 250 member societies. pirations, or ASTRA 2016 and The
as the state cabinet had passed the Cosmos Co-operative Bank took the
proposal and soon it would be imple- The Bank has also been active in lead to bring it on the forefront for
mented. He said the government ef- adopting the latest developments in the benefit of the society, informed
forts are to make cooperative banks the field of technology. The bank chair- Cosmos Bank’s Chairman – CA Milind
and cooperative societies stronger. man said, “bank provided the facilities Kale.
such as CBS, ATM, RTGS and NIFT and
He warned if cooperative banks were soon we are going to provide mobile Considering the Cosmos Bank’s values,
banking facilities to our customers”. vision-mission and policies, it has de-
cided to bring the Ancient Science and
Rupee Bank board to meet RBI officials for clearances Technology at the forefront in today’s
society, stated Kale. Cosmos Bank has
The Administrative Board of Rupee is nonetheless negotiating with the RBI always been dedicated to sensitive &
Bank is meeting RBI officials to seek to get a nod and the meeting assumes effective use of science and technol-
certain clearances for the struggling importance in light of this. ogy and keen on education.
UCB to be back on the rails. Some tech-
nical aspects and policy matters will be The extended tenure of the Adminis- As part of this initiative students will
talked about in the meeting said the trative Board is coming to an end on be elucidated with the Ancient Indian
Board Chairman Mr Mukund Abhyankar. 20th of February and it is in great Science, Technology and Culture.
haste to solve the issue of merger with They will also be educated about
RBI underlines that; any move by the other banks before the time is up. how Yoga, Health, Dance, Math-
Administrative Board of the Rupee Co- ematics and Science based on An-
operative Bank should give justice to all "We have already begun the negotia- cient Indian Science can be co-re-
the victims. tions with 3-4 potential players for the lated to the modern science of today.
merger and one of them is also a well- They will be encouraged and sup-
Seized with the issue of lessening the known nationalized bank", Abhyankar ported for further research on these
burden as much as possible the Board said shielding the bank's anonymity. subjects.

TN: Loans from Co-op banks waived; PSU wants Bank proposes to provide scholarship
and assistance to students taking
equality part in this conference. Others who
are part of this conference can also
For once PSU banks demand parity with co-op Bank. The demand has been not take benefit informed Chairman Kale
made by them but by the farmers of Tamil Nadu who have on this occasion.
called upon the state government write off their loans pend-
ing in various public sector banks as the govt. decision to Cosmos Bank is the leading multi-
waive only the loans taken from cooperative banks is not fair. state co-operative bank of India,
Farmers federation says out of the 1.2 crore farmer families with its strong presence in 7 states
cooperative have given loans to only 11.5 lakh families. But with its 140 branches giving all tech-
what the farmers fail to comprehend is that while Chief Min- nologically advanced services to its
ister Jayalalitha could arm-twist cooperative banks her writ 20 lac satisfied customers.

does not run in public sector banks.

22 | 2016 | FEBRUARY | BANKING FINANCE

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