Finance Minister T.M. Thomas Isaac and Cooperation Minister Kadakampally Surendran held talks with Union Finance Minister Arun Jaitley on the crisis in the cooperative sector in New Delhi on Friday.
The RBI had denied permission to the District Cooperative Banks to remit demonetised currency worth Rs.848.65 crore collected by them in the Kerala State Cooperative Bank (KSCB). This has affected the transactions in the DCBs and has led to a crisis for the customers as well as the banks.
The Ministers said Mr. Jaitley should ensure that the DCBs are permitted to remit the funds in the KSCB. Dr. Isaac participated in the fifth GST Council meeting too.
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