Chandigarh: Punjab Chief Minister Parkash Singh Badal today sought personal intervention of Union Finance Minister Arun Jaitley to direct the Reserve Bank of India (RBI) to allow the District Central Cooperative Banks (DCCBs) to participate in the implementation of the Scheme at par with other ‘Banks’ defined under Banking Regulation Act, 1949.
In a letter to the Union Finance Minister, Badal stated that the acceptance of deposits/repayment of loans shall be strictly based on the instructions issued earlier. The Chief Minister also apprised Jaitley that several branches of DCCBs were operational in areas where there was no presence of other public or private sector banks, which would also prevent the public particularly the farmers from facing inconvenience and ease pressure on the other banks.
Reiterating his request for prompt intervention, Mr. Badal impressed upon the Union Finance Minister to advice the RBI to allow DCCBs to be a part of this Scheme for giving relief to the farmers in particular and other public stakeholders in general.
For more news updates Follow and Like us on Facebook