The Hindu : 7-member expert panel set up

Online edition of India's National Newspaper
Friday, Jul 25, 2003

Southern States

Southern States - Andhra Pradesh

7-member expert panel set up

By Our Staff Reporter

HYDERABAD July 24. The State Government has constituted a seven-member expert committee, headed by Rama Rao, former NABARD managing director, to assist the Cabinet Committee in its task of looking into reforms in the cooperative credit system.

Besides Mr. Rao who is chairman, the committee members are K. Narasimha Murthy (cost accountant and member of the implementation and monitoring committee on urban cooperative banks), B. Ramachandra Rao (former CGM of SBI, A. Madhava Rao (retired additional registrar), APCOB chairman/PIC chairman, Bal Godhole (FAO consultant), and APCOB managing director, member-secretary.

According to a GO issued by the Agriculture and Cooperation Department on Wednesday, the expert committee will submit a report in a month. It will advise a suitable tiered structure of cooperative rural credit institutions. It will specifically study whether the present three-tier structure should exist or not.

The committee will examine the financial implications and effects of the merger of the long-term credit structure of cooperative rural credit institutions and advise on how the existing system could be improved in order to dispense credit effectively and efficiently.

It will suggest suitable measures by which the sanctioning and accounting systems could be improved in the context of the provisioning norms prescribed by the NABARD and the RBI.

The committee will critically analyse the functioning of APCOB and district cooperative central banks in State and advise a package of legal/administrative reforms and develop appropriate business plans, strategies for each DCCB.

It will also evolve viability norms for PACS and suggest measures of restructuring, suggest immediate, short-term and long-term action plans for revival and revitalisation of weak DCCBs, prescribe HRD policies for DCCBs.

The GO stated that APCOB is to pay Rs. 60,000 and Rs. 40,000 as honorarium to the chairman and members respectively. The APCOB managing director/chairman/PIC chairman will not be eligible for any honorarium.

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