Page 19 - Banking Finance June 2019

Co-opt hsg societies to Maharashtra State Cooperative Bank heads towards
receive loan worth Rs infra and retail lending
While continuing to be under a RBI-appointed administrator, Maharashtra State
1216.13 from MDCC
Cooperative Bank plans to make an entry into re-
30 cooperative housing societies lo-
tail lending and infrastructure segments with a
cated in
view to broaden its borrower profile.
Mumbai will
The administrator, Vidyadhar Anaskar remarked,
receive loans
"We cannot have all our lending to the sugar fac-
worth Rs
tories (cooperatives) alone. What if they go
1216.13 for
down? Therefore, we have decided to diversify
self-develop-
and start infra and retail lending." He further added that the focus will be on
ment for self-development as ap-
home, automobile and personal loans under the retail segment. Meanwhile,
proved by the Mumbai District Cen-
the projects generating benefits will receive the infrastructure loans.
tral Cooperative (MDCC) Bank.
He also said allowances are given to the co-operative banks to write unsecured
While 7 housing societies received Rs
loans worth up to 2 lakh which can increase in case of its attachment with a
75.87 crore in loans, 23 societies re-
salary-linked account. He stated, "Maharashtra State Cooperative Bank is con-
ceived in principle approval for loans
ducting diligence and negotiations to merge with two struggling co-operative
valuing Rs 1140.26 crore from the
banks, each based in Mumbai and Pune."
MDDC Bank, out of 839 societies who
have approached the self-develop-
OSBC's mobile ATMs play crucial role in Puri
ment cell of the bank.
The ATM services of Odisha State Cooperative Bank have been hailed by the
Recently, keeping the rising trend of
residents of Puri after the cyclone Fani hit the state. The
housing societies moving towards
banking as well as ATM service, which was completely gone
self-development in view, a loan
out of service after the storm, is yet to be completely re-
policy for self-development projects
stored. As per the OSCB sources, the bank's mobile ATM
has been published by the MDDC
service has been used by 5524 people of the town while
Bank.
their withdrawal cash amount worth Rs. 2.34 crore over the last 7 days.
The policy underscores the non-eligi-
The role of mobile ATMs has been crucial as 75 among 275 ATMS became func-
bility of the ceased buildings for self-
tional till date. In case of banks, 180 banks out of 222 have begun to function-
developments loans and it states that
ing in the district. 12 mobile ATMs have been deployed by OSCB all over the
the arrears must be cleared by every
district. Among them, while 6 have been functioning in Puri, others have been
members of the housing society.
set up in places like Konark, Nimpara and Gop.
BANKING FINANCE | JUNE | 2019 | 19