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States » NorthPosted at: Dec 3 2018 5:26PM


Punjab cabinet okays merger of 20 DCCBs with PSCB to strengthen rural credit system

Chandigarh, Dec 3 (UNI) The Punjab cabinet has okayed the merger of 20 District Central Cooperative Banks (DCCBs) with the Punjab State Cooperative Bank (PSCB) to strengthen the state’s rural credit system and facilitate farmers taking credit from cooperative banks.
With the cabinet giving the green signal to change the state’s three-tier cooperative credit structure into two-tier, by amalgamating the DCCBs with the PSCB, the latter has now become a larger entity bank. This has paved the way for PSCB to play a greater role in the area of rural credit, according to an official spokesperson.
The spokesperson said the decision had been taken in view of RBI guidelines, which mandate that all DCCBs should have a minimum capital adequacy ratio of 9 per cent (CRAR). Although at present the DCCBs are adhering to the required CRAR of 9 per cent (CRAR), there is hardly any space for majority of these DCCBs to enhance their business and to increase their profitability. Without further capital induction the CRAR stipulation given by the RBI cannot be met. Hence, the cooperative credit structure in the state is facing severe hardships.
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