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Regarding the announcement by the Minister of Finance, the government created a task force to prepare an action plan for the revitalization of rural credit cooperatives. It is also an appropriate regulatory framework and defines its report on October 31, 2004.
The mandate of the Task Force would be: (i) to recommend to implement an action plan for the revitalization of World Rural Cooperative Bank institutions, taking into account, Interalia, the main recommendations of various commissions, in this respect, (ii ) Suggest that a proper regulatory framework and changes that are necessary for in the relevant laws (iii) for an assessment of financial support, that the credit union, a revival of the nature of aid, participate in models And the gradual and (iv) suggest that other measures which contribute to improving the effectiveness and sustainability of the rural cooperative institutions.
The chairman of the Task Force is Professor A. Vaidyanathan, Madras Institute of Development Studies, Chennai. Its members are Shri Rama Reddy, President Sahavikasa Cooperative Development Foundation, Hyderabad, Prof. P Sriram, Indian Institute of Management, Ahmedabad, representatives of the Ministry of Agriculture and Cooperation and government representatives of Orissa, the Government of Uttar Pradesh, the Government of Maharashtra. While Dr Y.S.P. Thorat, MD, NABARD is a member of the secretary, Shri AV Sardesai, Executive Director, RBI, Mumbai and the Legal Officer, Reserve Bank of India, Mumbai are permanent guests of the Task Force.
Tags: bank institutions, bank of india, cooperative development, cooperative institutions, credit institutions, government of maharashtra, government of uttar pradesh, indian institute of management, indian institute of management ahmedabad, minister of finance, ministry of agriculture, nabard, reserve bank of india, rural credit cooperatives, vaidyanathan, y s p thorat |
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