Gujarat CM moots task force for co-operative banking sector

Gujarat Chief Minister Narendra Modi today asked the co-operative banking sector of the state to set up a task force to provide a next generation co-operative banking model to take the movement forward.

"It is the time for you to set up a task force to prepare a model to take the co-operative banking movement to the next generation," Modi said, inaugurating the newly constructed Sardar Vallabhbhai Patel Sahkar Bhavan of the Gujarat State Co-operative (GSC) Bank.

Modi said the co-operative banking sector should think about how to face global competition and modernise banking operations.

He said that there should be a movement towards cashless transactions in co-operative banks.
 

The role of urban and district co-operative banks is not restricted to balance credit-deposit ratio, but to take up social responsibility, he said.