Urban co-op banks need to focus on symmetric development, adopt modern banking methods: Shah
PTI, Jun 23, 2022, 1:14 PM IST
Cooperation Minister Amit Shah on Thursday said urban cooperative banks need to focus on symmetric development and adopt modern banking methods to stay in the competition.
He emphasized on the reforms in urban cooperative banks and asked them to make structural changes, computerize accounting processes, and infuse young talent in the sector.
Presently, the role of urban cooperative banks is negligible in the total banking sector in terms of deposit and advance payment, he added.
”There are 1,534 urban cooperative banks, 54 scheduled urban cooperative banks… but the development is uneven. We need symmetric development of urban cooperative banks,” Shah said at an event here.
The symmetric development of cooperative banks will help sustain competition in the future, he said.
The minister also felicitated several urban cooperative banks which have completed 100 years of operation.
Minister of state for cooperation B L Verma, National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB) President Jyotindra Mehta and Cooperation Secretary Gyanesh Kumar were present at the event.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Ensure safety of minorities: India on arrest of Hindu leader Chinmoy Das in Bangladesh
Rituals being conducted at temples for Shinde’s continuation as Maharashtra CM
BJP in no hurry to announce CM candidate until portfolio allocation finalised: sources
Atishi inaugurates 24×7 underground shooting range in Delhi’s Rohini
Sad to see you go, hope we can reunite: Delhi Capitals’ co-owner to Rishabh Pant
MUST WATCH
Latest Additions
Two leopards captured in village near Bengaluru after fatal attack on woman
Ensure safety of minorities: India on arrest of Hindu leader Chinmoy Das in Bangladesh
Rituals being conducted at temples for Shinde’s continuation as Maharashtra CM
BJP in no hurry to announce CM candidate until portfolio allocation finalised: sources
Atishi inaugurates 24×7 underground shooting range in Delhi’s Rohini
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.