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Coop banks to have an apex body

Gujarat Urban Cooperative Banks Federation (GUCBF) and Gujarat State Coop Bank have collaborated to form an umbrella organization which will help cooperative banks in technological upgrading, capacity building, research and in increasing financial literacy. This being set up on a recommendation of the RBI. The GUCBF and the Gujarat State Cooperative Bank are organizing a two-day conference-cum-exhibition, ‘Sahakar Setu-2014’, on the theme, ‘NextGen Cooperative Banks’, in Gandhinagar. Chief minister Aanandiben Patel will inaugurate ‘Centre for Banking Research, Development & Excellence’ (CBRDE),’ which is designed for the development of Gujarat’s cooperative banks on the lines recommended by the RBI. Sahakar Setu-2014 would provide a common platform for confidence-building, review developments, recognizing achievements, capacity building, technology up-gradation and creation of a roadmap for future. More than 1500 delegates, including senior officials of the RBI, will be present at the conference. Jyotindra Mehta, chairman GUCBF, said based on RBI’s recommendations and suggestions, the umbrella organization will provide the sector with a range of products and services like asset liability management, funds management and investment banking. This would be the first such organization in the country.

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