NAFSCOB urges Union govt to provide credit guarantee scheme to cooperative banks also

K M Dayashankar


KARIMNAGAR: The National federation of States cooperative banks (NAFSCOB) had conducted its Board of Directors meeting at board meeting hall on the premises of Karimnagar District Cooperative Central Bank in Karimnagar town on Tuesday evening.

The meeting was organised under the chairmanship of its president Konduru Ravinder Rao, vice president Dhan Singh Rawath, board members Dileep Sanghani, Mallela Jhansi Rani, Kushiram Balnath and Managing Director Bhima Subramanyam and others.

On this occasion, the NAFSCOB has urged the Union Cooperation Ministry headed by Amit Shah to provide credit guarantee scheme for the cooperative banks also on par with the commercial banks. The meeting discussed about the need to provide the CGTMSE (credit guarantee trust fund for minor and small enterprises) facilities to the cooperative banks.

The meeting had decided to set up a committee to look into the long pending issues pertaining to the cooperatives in the country including state cooperative banks and district cooperative central banks to the notice of the Union Ministry of Cooperation. The meeting had also urged the Union Ministry to give a panel of 10 to 12 big service providers for selecting among them by SCBs to ensure transparency.

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