NABARD conducts inspection at Rajkot Co-operative Bank

Rajkot:Officials of National Bank for Agriculture and Rural Development (NABARD) today conducted an inspection at the Rajkot District Co-operative Bank (RDCB) here.

Vitthal Radadiya, the BJP MP from Porbandar who is also Chairman of RDCB, termed the inspection as “a routine process” undertaken by NABARD every year.

After his meeting with NABARD officials, Radadiya clarified their visit to the bank had nothing to do with the Centre’s demonetisation move.

“It was nothing more than a routine inspection from NABARD. They conduct such audit every year to know about the performance of the bank as well as problems faced by us,” said Radadiya.

“Today, they completed their audit and held a meeting with the bank management. This visit had nothing to do with the Central Government’s demonetisation decision,” the Lok Sabha MP said.

Post the currency replacement scheme, RBI banned District Central Cooperative Banks (DCCBs) in Gujarat and other States from accepting or exchanging scrapped notes of Rs 500 and Rs 1,000 denominations.

Rajkot, Dec 16 (PTI) Officials of National Bank for Agriculture and Rural Development (NABARD) today conducted an inspection at the Rajkot District Co-operative Bank (RDCB) here.

Vitthal Radadiya, the BJP MP from Porbandar who is also Chairman of RDCB, termed the inspection as “a routine process” undertaken by NABARD every year.

After his meeting with NABARD officials, Radadiya clarified their visit to the bank had nothing to do with the Centre’s demonetisation move.

“It was nothing more than a routine inspection from NABARD. They conduct such audit every year to know about the performance of the bank as well as problems faced by us,” said Radadiya.

“Today, they completed their audit and held a meeting with the bank management. This visit had nothing to do with the Central Government’s demonetisation decision,” the Lok Sabha MP said.

Post the currency replacement scheme, RBI banned District Central Cooperative Banks (DCCBs) in Gujarat and other States from accepting or exchanging scrapped notes of Rs 500 and Rs 1,000 denominations.

PTI