RBI signs MoU with West Bengal Government

By Staff
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Google Oneindia News

Mumbai, Aug 8 (UNI) The Reserve bank has set up a task force for the promotion of urban co-operative banks in West Bengal for which a Memorandum of Understanding (MoU) was signed today.

The Reserve bank, in a notification, said the state level Task Force on Urban Co-operative Banks (TAFCUB), would be chaired by B Mahapatra, Regional Director for West Bengal and Sikkim, RBI.

As part of its efforts to promote functioning of urban co-operative banks, it had earlier signed MoUs with many state governments including Gujarat, Andhra Pradesh, Karnataka, Madhya Pradesh, Rajasthan, Uttaranchal, Chattisgarh, Goa, Maharashtra, Haryana and Delhi.

The central bank said it would also be assessing the training and computerization needs of the urban co-operative banks in the state of West Bengal with the objective of upgrading their human resources skills and technological infrastructure.

In the mid-term review of annual Policy on October 2004, Reserve bank had announced that a vision document for urban co-operative banks would be prepared in due course.

Signing of MoUs with state governements are believed to have come in order to converge the dual control on cooperative banks from the Reserve bank and state governments.

A Bhattacharyya, Registrar of Co-operative Societies, Government of West Bengal, has been appointed as Co-Chairman of the West Bengal task force.

UNI

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