NABARD to help co-op banks to have better balance sheet
The National Bank for Agriculture and Rural Development (NABARD) will help district cooperative banks in the state to improve their balance sheet by end of March. It will also help to regain their leadership in the banking industry, said its officials at a seminar on Saturday.
The initiatives by NABARD and the strategy for business growth by the cooperatives were the highlights of the programme, the release said. Its Vision 2013 would cover all the 18 cooperative banks to improve their balance sheet at least by 50 per cent and thus bring them in the mainstream banking.
The cooperative banks are expected to be more customer-friendly and efficient. It said the NABARD had tied up with IT giants like TCS and Wipro for implementation of core banking solutions in these banks.
The NABARD also sanctioned assistance of Rs 1.13 crore to cooperative banks to set up computer training facilities for their staff on an on-going basis, the release said.
It has also launched a programme for encouraging primary cooperative societies to become multi-service cooperative societies, the release said adding that 1,200 primary societies would take up at least one additional commercially viable activity in their areas.
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