Tag: Cooperative Banks

Bhubaneswar: With the deadline for disbursal of kharif crop loan approaching fast, the Registrar of Cooperative Societies wrote to cooperative banks to lend Rs 7,000 crore loans to farmers by September 30. As per the letter written on Monday, Rs 5,499 crore kharif loan amount has been sanctioned to 15,056,228 farmers till date this season. […]

Bhubaneswar: Apprehending difficulties in disbursing kharif loans due to inordinate delay in conversion of old Kisan Credit Card (KCC) into Rupay Kisan Credit Card (RKCC), the National Bank for Agriculture and Rural Development (NABARD) has cautioned the State government asking it to complete the process at the earliest for smooth monetary transaction for farmers. In […]

Koraput: Taking cognisance of the plight of farmers at the hand of middlemen, Odisha government had made online registration mandatory to sell paddy via respective PACS (primary agricultural credit societies). However, it seems, it has become a soft ground for bank officials and middlemen to illegally hoard money. OTV has unearthed a scam in which […]

Bhubaneswar: Cooperative banks in the state have been mostly affected due to the demonetisation, said Excise Minister Damodar Rout in the State Assembly here today. Replying to a question raised by Congress MLA Chiranjib Biswal, he said, “Following the demonetisation, cooperative banks in the country were barred from accepting and exchanging the demonetized Rs 500 […]

Mumbai: Allaying fears of any threat to the banking system, Reserve Bank governor Shaktikanta Das on Friday asked the public not to panic as the entire banking system, including cooperative ones, continue to remain sound and stable. Das also said in the wake of the crisis at Punjab & Maharashtra Cooperative (PMC) Bank, the RBI […]

New Delhi: Finance Minister Nirmala Sitharman on Friday said the government will bring legislation on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks. These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here. These legislations assume significance […]

New Delhi: Finance Minister Nirmala Sitharaman on Friday said cooperative banks would be under the RBI’s prudential norms to prevent any PMC Bank-like situations, there will be a rise from Rs 1 lakh in deposit insurance cover for account holders in the new FRDI Bill and the Finance Ministry will shortly move the proposal before […]