WBSCB seeks more autonomy

The West Bengal State Cooperative Bank (WBSCB) has sought more autonomy in opening branches in Coochbehar, North 24-Parganas and South 24-Parganas districts of West Bengal.

WBSCB provides services directly to primary agriculture credit societies (PACS) in the three districts, as in view of certain operational problems in the District Central Cooperative Banks (DCCBs) there, the three district cooperative banks were merged with the WBSCB long back.

However, as DCCBs do not require Reserve Bank of India (RBI) nod to open branches, unlike the state level cooperative banks, there has been a rapid expansion of cooperative banking in districts other than Coochbehar, North 24-Parganas and South 24-Parganas.

Recently, Samir Ghosh,WBSCB chairman, in a letter to D Subbarao, governor, RBI, requested the central bank to ease norms for opening new branches in the areas, and treat WBSCB at par with District Central Cooperative Banks (DCCBs).

During the last four years, WBSCB was permitted to open only two branches in North 24-Parganas.

The rural cooperative credit structure in West Bengal is a three-tier structure, with the State Cooperative Bank being the representative body at the state level, followed by the DCCBs at the district level, and PACS at the lowest level.

According to Ghosh, the issue was also taken up with a state level task force for monitoring the functioning of the cooperative banks.

"In view of the fact that the regional offices of the WBSCB are working as Central financing agency in the three districts, the committee had recommended that mere permission of the Registrar of Cooperative Socities, West Bengal, should be suffice in opening new branches," according to the letter.

WBSCB planned to open about 15 new branches in the three districts.

This apart, WBSCB has also sought RBI licence to launch forex