The Union Minister of Home Affairs and Cooperation, Shri Amit Shah, has welcomed the important steps announced by the RBI to increase debt flow through Cooperative Banks. Shri Amit Shah said in less than a year, Prime Minister Narendra Modi had taken many historic decisions in the co-operative sector, which were needed for a long time. On behalf of the Department of Cooperatives and the thousands of people involved in the co-operative sector, I extend my gratitude to the Prime Minister Shri Narendra Modi for the decisions that have given new impetus to the development of this sector.
Many of the old demands and problems of the co-operative sector have been resolved since the establishment of the new Co-operative Department under the direction of the Minister of Cooperative Union Shri Amit Shah. These decisions will meet the requirements of Co-operative Banks.Shri Amit Shah said there were many opportunities for the development and empowerment of farmers, agriculture and rural areas in the co-operative sector, which is why under the leadership of Prime Minister Shri Narendra Modi, the Union government empowers the co-operative sector. The mantra of ‘Sahakar Se Samriddhi’ also takes many decisions that have never been seen before. He said today I am very pleased to announce that the Reserve Bank of India has announced three key policy decisions for the co-operative sector –
Firstly, the Urban Co-operative Bank loan limit has doubled. With this decision, the mortgage lending limit for Tier 1 Urban Cooperative Banks (UCBs) has now been increased from R30 lakh to R60 lakh, Tier 2 UCB from Rh 70 lakh to 40 1.40 crore and to -Rural Cooperative Banks (RCBs)). The limit has been increased from 20 lakhs and 30 lakhs to 50 lakhs and 75 lakhs respectively.In another important decision, Rural Banks (RCBs) are allowed to borrow from the Retail Real Estate sector, which will increase the scope of our Rural Co-operative Banks and give impetus to the decision to provide affordable housing. to people.
In the third major decision, Urban Co-operative banks are now allowed to provide door-to-door banking services to their customers as commercial banks. With this decision, the federal banks will now be able to find a platform in the competitive banking sector and will be able to provide door-to-door banking services to customers like other banks. Increased lending in the housing sector by the federal banks will lead to increased economic activity, increased financial creation and job creation, which will have a significant impact on the economy.
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