Kerala CM asks coop. banks to adopt core banking
Thiruvananthapuram: Stung by the post-demonetisation RBI curbs on cooperatives in Kerala, Chief Minister Pinarayi Vijayan has asked the primary cooperative credit institutions in the State to adopt a common software that would make them fully compliant with RBI norms.
Addressing a meeting of cooperators and cooperative institution representatives, Mr. Vijayan said the cooperatives could either go for the RBI's core banking software or have some other software that is chosen entirely on the basis of merit. This should be done in consultation with NABARD, he said.
The Chief Minister also asked the cooperative credit institutions to see if they could collectively come out with a card modelled on the RuPay card and revise the interest being paid for deposits. The government, he said, would give full guarantee for every paisa deposited with cooperative banks and credit institutions. Those heading such institutions should visit homes of depositors about the safety of their money, he added.
The Chief Minister's statement assume significance in the light of the stringent curbs imposed on District Cooperative Banks (DCBs) by the RBI following reports that their activities in the hours following the announcement of demonetisation called for a closer look. Roughly Rs. 2,200 crore in the demonetised currencies, receiving from primary credit bodies and individual depositors, is reported to be remaining stuck with the DCBs.
Source:The Hindu
No comments:
Post a Comment