Cooperative Bank Failures - Moneylife

Cooperative Bank Failures - Moneylife



My VIEW:

There are essentially two categories of cooperative banks. One, which caters to the credit needs of farm and rural sector with a two-tier (State Cooperative Bank and primary cooperative societies)or Three-tier(State and District Cooperative Banks and primary societies) and two, primary (urban) cooperative banks which are for all practical purposes, miniature commercial banks in the cooperative sector. The dual control (cooperation being a concurrent subject) and politicisation (because of the democratic cooperative structure) have been affecting their functioning all along. While primary (urban) cooperative banks-to which the 165 failed banks(in Maharashtra alone) referred to in this article belong- are under regulatory control of RBI, supervision of the other category of cooperatives has shifted to NABARD since early 1980’s. The cooperative institutions including banks deserve more attention from government/s and regulatory/supervisory bodies. Commercial banks in India do not have the kind of outreach cooperative institutions have and that is good enough reason to revamp and protect the cooperative structure. 

M G Warrier

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