About the Co-operative department

s-mohanty · Post by **s-mohanty** » Apr 28th, '11, 17:32

Hello every body,
I've a question in my mind. We always read in news papers about diff types of corruption, froud in diff co-operative socities. frouds in diff industry adding with their names "co-operative". What about this "co-operative" thing in orissa ?

**Sponsor**

ashok sahoo · Post by **ashok sahoo** » Apr 29th, '11, 21:50

Hello,
I'm Ashok sahoo.I 've some qwery about this dept.
If a co-operative bank is liquidated ,how the people will get back their money?

M C Padhi · Post by **M C Padhi** » Apr 30th, '11, 22:45

Hello Mr Ashok Sahoo,
I am a senior employee of this dept.
You've asked a question about the liquidated co-operative bank.Here is your answer.

If the deposits are insured properly with premium in the DICGC Bombay,a sector under RBI , that the said sector is to make payment as per the rules .

RkMishra · Post by **RkMishra** » May 3rd, '11, 23:58

Hi all,
I am also associated with Co-operative Bank. Sri MC Padhi has rightly explained. I am to add a little more...
Have you ever thought about liquidation of a Nationalised Bank. In some worst cases, if a Nationalised Bank fails to pay back the customers' deposits, the only resort for the depositor is to claim from DICGC ( same as co-operative banks) not to claim from Govt.
Insurance coverage is now mandatory for all Banks. (There are certain limitations)
Co-operative Societies can be easily formed and registered.Funds can be raised by inducing members easily.Most of the societies carry on business like marketing, agriculture,fisheries,micro finance etc. Sometimes such societies are lead by persons without sufficient education/experience.Some societies are left un-audited for years. Therefore, people having malicious bent of mind get chance to mis-appropriate money easily. In many cases small issues are explored in media appearing as corruption and innocent employees are victimized without significant fault.
There is no minimum educational qualification criteria for election of directors, hence there is every possibility of blow-holes in a sensitive decision.

This is my personal opinion as a general citizen and I suggest a top-to-bottom revolution in co-operative sector.

Mr.Ravi.N.Sahu · Post by **Mr.Ravi.N.Sahu** » May 4th, '11, 15:54

Hello,
I'm also an employee of a co-operative bank of Odisha.I'm 100% agree with the opinion of Mr RK Mishra .
Trere is no certain rules in this Dept.What is the future of the Co-operative banks(mainly the Urban Co-operative banks)?Can they develop like other nationalised banks?

ABINASH · Post by **ABINASH** » May 6th, '11, 17:12

I had heard last year,that the Dhenkanal Urban Co-operative bank was going to be liquidised,What is the news about the bank right now?

Bhaagi · Post by **Bhaagi** » Jul 20th, '11, 13:41

Thank you all who ever answered this query. I had doubt on co-operative department. Thanks for your clear explanation.

Regards

Current Affairs

niranjan senapati · Post by **niranjan senapati** » Jul 21st, '11, 23:27

Namaskar,
I 'm Niranjan Senapati from Baripada, working in the same field.I want to know about the current position of the Dhenkanal Urban Co-operative Bank.Whether the govt helped in some extent or not? Did all the depositors get back their money?
Was not it the wrong decision of the reserve bank/govt? It is very easy to break an organization/industry easily.Can it be easy to make a new one? Why the conscious politicians do not think so?

mr.k.m swain · Post by **mr.k.m swain** » Apr 9th, '12, 23:56

All the depositors of the Dhenkanal Urban Co-operative Bank are going to get back their money very soon.

badal · Post by **badal** » Jan 26th, '13, 14:26

Deposit Insurance and Credit Guarantee Corporation, Mumbai have settled an amount of Rs.7,77,60,164.82 towards the eligible deposit insurance claims of the Dhenkanal urban co-operative bank ltd.,Dhenkanal (U/L).

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