Development

Our office is flooded with phone calls from persons working in the field projects of National Cooperative Union of India. They have not received salaries for last the 3-4 months and their future hangs in the balance. Caught in the cross-fire of Agricultural Ministry’s babus and obstinate cooperative leaders these poor fellows do not know where to go, what to do. Indian Cooperative is also in no position to help them. Ministry insists that without making suitable changes in the bye-laws ...

With a view to upholding the principle of egalitarianism and affordability in housing development for the disadvantaged groups in big cities, the RBI has called upon the urban cooperative banks to increase the limit for home loans under priority sector lending. According to the apex bank, poor people and slum dwellers can now avail themselves of a home loan to the tune of Rs 10 lakh. The RBI has also asked commercial and other banks to help the poor with loans upto 10 lakh. As per the RBI ...

Government has informed Parliament that NABARD will move nearly a score of district development managers to poverty-stricken areas and set up several new branches in areas that are affected by ultra-leftism. NABARD will also cover areas where women self-help groups are at work, Parliament was told. According to Union Finance Minister, there would be more than 4 hundred DDM offices and NABARD would cover altogether 510 districts in the country. Sources say most of the new DDM offices would be ...

Vice Chairman of Urban Cooperative Bank (UCB) was killed and two others were injured when their car rammed into a truck near Lakhimpur in Uttar Pradesh, police said. Satya Prakash Yadav (50) died on the spot, while the two others, identified as Vineet Pandey and Sarvesh, were injured in the accident that took place on yesterday near Chimney village, they said.

A delay in the payment of dues by the sugar factory has begun fuelling anger among the sugarcane farmers in Ganjam district of Orissa. Farmers are especially irked by the fact that even when the cooperative sugar factory has completed its crushing and processing operations last month, it has not shown any willingness to pay their dues. Farmers are worried if they do not get their amount on time, they would fail to start farming crops afresh. Sources close to the sugar factory, however, ...

One Anil Gupta who had his account in the Hindu Cooperative Bank in Pathankot in Punjab has made allegations that a little less than Rs 30 lakh has been withdrawn from his account and some bank employees have been involved in it. The bank authorities have not denied the allegations and said only a proper enquiry could bring out the truth. However, the way the bank is handling the case has set tongues wagging. The cases of fraud in cooperative banks are on rise leading to ...

Some armed criminals hit an honest cooperative official on his head with a rod with the express intention of killing him in Bangalore, according to local police. S.P.Mahantesh , deputy director  working in the department  of cooperative  audit  is seriously injured and being kept on life support system in a hospital in the city. Sources say most of the cooperative societies are synonymous with graft and fraudulent activities. The Mafiosi controlling them are so powerful that they can go to ...

According to knowledgeable sources, the RBI has slapped a huge fine on a Delhi based National Urban Cooperative Bank for sanctioning loans  in an irregular manner. The Bank flouted the guidelines laid down by the apex bank by favouring its own directors and their relatives and favourite firms with loans. When the apex bank came to know of it, sought explanation from the bank and immediately dismissed from consideration the bank’s explanation as irrelevant.