Saturday, Apr 20 2024 | Time 21:10 Hrs(IST)
image
Business EconomyPosted at: Mar 3 2021 7:05PM


Randhawa encourages coop banks to compete at par with pvt banks

Chandigarh, Mar 3 (UNI) Punjab Cooperation Minister Sukhjinder Singh Randhawa said the state government is going to revamp the cooperative banks by introducing new schemes including gold loan and insurance schemes to encourage the cooperative banks to compete with private banks.
Mr Randhawa said new recruitment will be done to deal with shortages of staff and for starting net banking and other online banking services will also be introduced to include the cooperative banks in top banks of the state.
The Minister Randhawa was here to inaugurate the workshop on ‘Micro Finance, New Buisness Opportunities for Cooperative Banks’ organised by Punjab State Cooperative Bank in association with NABARD.
Mr Randhawa said there are as many as 802 branches of cooperative banks in the state and due to the lack of professional approach of cooperative banking sector, these banks are lagging behind private banks besides having reach in the remote areas. He added that to compete with private banks, the cooperative banks will have to change its working for the welfare of the rural people by introducing marketing strategies.
He said strict action will be taken against the culprits of corruption and indiscipline. He also directed the bank officials to act tough against major defaulters.
The Minister thanked NABARD for providing financial assistance of Rs 750 crore to Punjab State Agriculture Development Bank and also appealed the NABARD to bound the state government to utilise these funds through cooperative banks which would strengthen them. He said after getting approval from Reserve Bank of India, the District Central Cooperative Banks (DCCBs) will be merged soon in Punjab State Cooperative Banks (PSCBs) which would add strength to these banks and help overcome new challenges as well.
MORE UNI DB SY 1904
Please log in to get detailed story.
Tags: #Randhawa encourages coop banks to compete at par with pvt banks
More News
HDFC Bank net up 37% in Q4; company recommends dividend of Rs 19 50 per share

HDFC Bank net up 37% in Q4; company recommends dividend of Rs 19 50 per share

20 Apr 2024 | 5:36 PM

New Delhi, Apr 20 (UNI) India’s largest private sector bank HDFC Bank on Saturday announced a jump of 37.1 per cent in net profit at Rs 16,511.85 crore for fourth quarter (January-March) of FY2023-24.

see more..

Kottayam-Kochi Rubber Market Rates

20 Apr 2024 | 4:46 PM

Kottayam, Apr 20 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Saturday per quintal.

see more..
ICICI Bank strengthens support for senior citizens in Bengal

ICICI Bank strengthens support for senior citizens in Bengal

20 Apr 2024 | 1:29 PM

Kolkata, April 20 (UNI) The ICICI Bank has announced a range of initiatives to make banking more convenient to its senior citizen customers in West Bengal.

see more..

IREDA nets all-time high at Rs 1,252 23 cr in FY24

19 Apr 2024 | 8:38 PM

New Delhi, April 19 (UNI) Indian Renewable Energy Development Agency Ltd. (IREDA), the nation's largest pure-play green financing NBFC, Friday announced an all-time high net profit of Rs. 1,252.23 crore in 2023-24, a 44.83 per cent jump over the previous fiscal year 2022-23.

see more..

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..
image