Panel Discussion: Safe & Secure Cooperative Banking (Urban & Rural): The way forward

Elets 2nd Maharashtra Cooperative Summit 2016 – Panel Discussion: Safe & Secure Cooperative Banking (Urban & Rural): The way forward

M L Sukhdeve, Chairman, The Maharashtra State Coop Bank Ltd

“In banking sector, one change or security breach bring changes to the entire sector. The failure of one cooperative bank impact the entire cooperative structure. In the technology-based banking, the most important factor is to take precautions in both urban and rural banking. So far, as the credit structure is concerned, it is the biggest network in urban and rural sector.”

Dilip N Kanhere, Chief Executive Officer, The City Cooperative Bank

“There is a lot of risk involved in the banking sector. No bank can do any business without taking risks. Banking involves risks pertaining to loan portfolio, investment portfolio, income tax department, ATM facility, online payment facilities, etc. Cooperative bank loan portfolio carries the highest risk. Cooperative banks unlike big banks do not have the liberty to survive with high NPAs.”

Vidyadhar V Samant, CEO, Ambarnath Jai Hind Coop Bank

“Financial Technology (FinTech) companies are emerging as new competitors to cooperative and urban cooperative banks, as they are offering more sophisticated services to customers. Their banking process is much easier than that of cooperative banks. Cooperative banks should also make the banking process easier so that we can earn the trust of customers.”

Satish A Sawant, Compilance Officer, Sanmitra Sahakari Bank

“RBI compliance is important and banks which face inspection every year are definitely in financial problem. Treat the RBI as financial doctor and adhere to its guidelines. This will definitely bring down the level of safety, security and financial complications. Every RBI compliance should be taken as an annual check up.”

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