Make performance of PACS the topmost criterion for DCCBs & SCBs
Banking Frontiers|Achievements of Cooperative Banks 2019-2020
Hanumanthagowda Krishnegowda Patil - popularly called H.K. Patil - is an acknowledged leader of the cooperative banking movement in India. The apex cooperative banking organization, NAFCUB, has for the first time created a position, ‘Chairman Emeritus’, specifically for him in recognition of his contributions to the cooperative banking sector. He is also a former minister and an MLA from Karnataka. Patil responds to a series of questions from Banking Frontiers:
Make performance of PACS the topmost criterion for DCCBs & SCBs

H.K. Patil argues that it is of little or no use to have higher tiers in the cooperative banking structure if PACS languish without help and effective hand holding

Mehul Dani: You being Chairman Emeritus of NAFCUB, what major initiatives are you suggesting for revamping the cooperative banking sector in India?

H.K. Patil: I may have to touch upon both rural and urban cooperative banking sectors which have their own distinct issues. As regards initiating crucial steps for the betterment of cooperatives, I may state that the High Power Committee constituted by the Government of India in 2005-06, of which I was a member, made very important recommendations which were incorporated in the 97th Constitutional Amendment. An extremely important clause of the amendment was the introduction of the concept of ‘active membership’ and making it a necessary condition for a person to exercise all rights of being a member.

Some of the other major initiatives are:

Rural Cooperative Credit

I have always been a votary for making primary agricultural credit societies, or PACS, as the focal point of the rural cooperative credit system. Rural cooperative banking system was initially evolved around agriculture and farmers. It is a 3-tier structure with the 95,000 PACS at the core of the system, supported by 33 state cooperative banks and 363 district central cooperative banks in what is known as short term credit structure. We also have Rural Development Cooperative Banks at state and district levels which are not full-fledged banks and have not made much impact as such due to their constraints.

This story is from the Achievements of Cooperative Banks 2019-2020 edition of Banking Frontiers.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the Achievements of Cooperative Banks 2019-2020 edition of Banking Frontiers.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM BANKING FRONTIERSView All
Kamdhenu & Sammrudhi loans top rural customers
Banking Frontiers

Kamdhenu & Sammrudhi loans top rural customers

Unnayan Bharat Finance Corporation (UBFC) Director & Co-Founder Avneesh Trivedi shares the company's attempts to enhance the rural lending environment & deliver better services to its consumers:

time-read
3 mins  |
September 2023
It's going to be a 'world' of CBDCs
Banking Frontiers

It's going to be a 'world' of CBDCs

Practically, every central bank in the world is testing and readying a CBDC system:

time-read
8 mins  |
September 2023
Training for behavioral & social skills is key
Banking Frontiers

Training for behavioral & social skills is key

3 CHROs from the top BFSI companies in India open up about their training and motivation programs aimed at enhancing employee effectiveness. The story is divided into 4 parts: (i) functional and behavioral training, (ii) manager to leadership training, (iii) learning-based training, (iv) motivational programs:

time-read
9 mins  |
September 2023
THE AI COMPASS
Banking Frontiers

THE AI COMPASS

Artificial Intelligence has risen to be the hottest topic of discussion today. It is expected to impact everyone, and the impact could exceed that of war, global warming, supply chain disruptions, geopolitics, and much more.

time-read
10+ mins  |
September 2023
To mentor & coach emerging leaders
Banking Frontiers

To mentor & coach emerging leaders

Manish Shah, MD & CEO of Godrej Capital, outlines his focus areas today and in the future:

time-read
3 mins  |
September 2023
Innovation will unlock India's Mission 'Atmanirbhar’
Banking Frontiers

Innovation will unlock India's Mission 'Atmanirbhar’

Sunita Handa is Chairman, Toyota FSIN and Principal Advisor & TLAB Chairman, Protectt.ai Labs. She shares her current activities and her deep insights on innovaiton in an interaction with Manoj Agrawal:

time-read
6 mins  |
September 2023
Algorithm is the Boss
Banking Frontiers

Algorithm is the Boss

Irem Sayeed, Chief Credit Officer at U GRO Capital, dwells into business focus and modernization at the lender:

time-read
6 mins  |
September 2023
Fintech and Neobank under the same Umbrella
Banking Frontiers

Fintech and Neobank under the same Umbrella

It was started in 1902 to build what came to be called Israel:

time-read
3 mins  |
September 2023
Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation
Banking Frontiers

Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation

A productivity booster shot at BALIC:

time-read
2 mins  |
September 2023
Small Beginning for a Big Opportunity
Banking Frontiers

Small Beginning for a Big Opportunity

AMU Leasing's focus on serving the underserved market of individuals and fleets looking for financing for electric 3-wheelers and 2-wheelers:

time-read
3 mins  |
September 2023