Nagpur: The Co-operation, Marketing, and Textiles Department of Maharashtra Government has appointed a committee headed by District Collector of Nagpur to monitor the functioning of beleaguered Nagpur District Central Co-operative Bank (NDCCB) Ltd. The six-member committee has been constituted to revive the bank, after taking stock of the loan recovery.
The committee headed by District Collector of Nagpur, will have District Deputy Registrar (Co-operatives) as Member Secretary. Additional Commissioner and Special Registrar (Co-operatives), Pune; Dinesh Oulkar, retired Additional Commissioner and Special Registrar, Pune; Divisional Joint Registrar of Co-operative Societies, Nagpur; Divisional Manager, Maharashtra State Co-operative Bank Ltd, Nagpur Division, will be the members of the committee.
The said committee has been entrusted with the task of taking stock of the functioning and financial position of NDCCB every month, and offer guidance to the board of administration on improving the bank’s finances. An important mandate of the committee is to review the loan recovery and guide the administration on expediting recovery. Besides, it is expected that the committee will suggest various measures to increase the deposits in the NDCCB.
Other matters on which the committee is expected to guide the board of administration include enhancing credibility of the bank among ordinary depositors and institutional depositors in Nagpur district, suggesting measures to cut down on expenditure and increase income and business, updating the CBS and operationalising it, bringing complete transparency in the financial transactions of the bank, taking stock of the target set in the action plan submitted by NDCCB to NABARD, and suggesting measures to the Government to improve the bank’s functioning.
The committee is expected to submit its monthly report to the Commissioner Cooperatives and Registrar of Co-operatives Society, Pune. The committee for NDCCB has been appointed following the reported good results in case of another beleaguered co-operative bank — Wardha District Central Co-operative Bank Ltd. On January 9, 2024, the Government appointed a committee headed by the District Collector of Wardha to monitor the functioning of Wardha DCCB.
