State Registrar urges RBI to remove co-op bank directors serving over 10 years

Surat: Acting on a complaint filed by Surat district cooperative leader and Pradesh Congress General Secretary Darshan Nayak, the Registrar of Cooperative Societies, Gujarat State, has written to the General Manager of the Reserve Bank of India’s Department of Supervision. The letter urges the Central Government to seek the resignation of directors in cooperative banks who have completed 10 years of service and to implement the relevant new reforms.

Meanwhile, Darshan Nayak alleged that despite several cooperative bank directors having served for over a decade, the State Registrar has taken no strict action and has instead shifted the responsibility to the RBI office in Ahmedabad. He pointed out that both the State Registrar and the District Registrar have the authority to remove such directors but are merely engaging in a “letter-writing game” rather than taking decisive steps.

Nayak further stated that the details of the issue will be forwarded to Gujarat Rajya Sabha MP Shaktisinh Gohil and Lok Sabha MP Geniben Thakor, and the matter will again be raised in both Houses of Parliament. A demand will also be made for the immediate dismissal of officers who fail to enforce the law.

Earlier, the District Registrar of Surat sought factual reports from the General Managers and Managing Directors of five cooperative banks.

According to the complaint, the tenure of office bearers and directors is being reviewed in the following banks: Surat Mercantile Co-operative Bank Ltd., The Surat District Co-operative Bank Ltd., Panchshil Mercantile Co-operative Bank Ltd., Prime Co-operative Bank Ltd., and Varachha Co-operative Bank Ltd. DeshGujarat