Organisational Development Intervention (ODI) - Guidelines
It has been decided that only ‘ODI’ has to be used as standardised nomenclature for both RRBs as well as Cooperative Banks. We, therefore, advise that henceforth, in all communications, for the interventions in Cooperative Banks and RRBs, ‘ODI’ will be uniformly used.
(Ref.No.NB.IDD.ODI / 1185 / ODI-8 / 2010-11 dated 04 October 2010.Circular No. 191 / IDD- 10 / 2010)
Revival Package for the STCCS – Procedure for Release of Recapitalisation Assistance to CCBs
After the completion of procedure for recapitalization of PACS, the overdues of next higher tier, i.e. CCBs have to be settled. The procedures to be followed for release of recapitalization assistance to CCBs as under.
2. ROs will disburse the recapitalization amount comprising accumulated losses and CRAR amount in respect of each CCB (as worked out in Table I of Special Audit format) through SCB for credit of the Current Account of the CCB concerned. The accounting entries to be passed in this regard are indicated in Annexure I of the Circular.
3. In order to keep track of the disbursements from the GoI and the State Govt, it is necessary that CCB-wise records in the form of a register of eligible financial assistance and disbursements of GoI and State Government’ contribution on progressive basis are maintained at SCB Level as per Annexure II of the Circular. In this regard, the concerned SCB also will issue a utilization certificate within 10 days stating that the recapitalisation assistance received from GoI and State Govt. has been properly credited to the current account of CCB. The format for issue of utilization certificate by the DCCB is indicated in Annexure III of the Circular.
4. SLIC will arrange to verify, within a fortnight, the credit of recapitalization assistance (both GoI and State Govt. contribution) through the CA member of the SLIC who will confirm the certificate issued by the SCB. Thereafter, the matter regarding release and credit of the recapitalization amount to the accounts of the respective CCB should be discussed in the SLIC and properly minuted.
(Ref No. NB.DCRR/ 569 /D-1 & D-6/2010-11 dated 05 October 2010.Circular No192/ DCRR- 03/2010)
Disclosure in Financial Statements - Half Yearly Review
It is clarified as under:
(a) The guidelines for half-yearly review issued vide our circular dated 16 June 2009 referred to above may be followed by the RRBs for carrying out half yearly review as on 30 September 2010 and in future as well.
(b) The half yearly review may be done by the Central Statutory Auditor who was entrusted with the audit of the bank for the previous year. Even if the term of the auditor has expired as at the end of March, the same auditor may be advised to carry out the half yearly review, as the fresh panel of auditors would be available after January.
(c) Half yearly review reports should be submitted to NABARD Regional Offices only.
(NB.DoS.HO.POL./ 2898 /J-1/2010-11 dated 29 October, 2010.Circular No 198/ DoS - 23 /2010)
Bank Finance for Rural Housing & Rural Habitat Development - Model formats for sanctioning the proposals
In continuation of our circular No.NB.DPD-NFS/2104/RH-1/2009-10 dated 19 February 2010 it is advised that :
1. While scrutinising the proposals for sanctioning housing loans, it is desirable to calculate financial ratios like loan coverage ratios, residual income per person (RIPP), etc., and based on the same, decision may be taken to sanction the loan.
2. A memorandum of mortgage from the borrower should also be obtained as per the model formats, which may be modified (if necessary) as per the policy of the bank and to meet other statutory requirements. Decision regarding stamp duty etc. may be taken as per the provisions of the various Acts applicable in the respective states.
(Ref.No.NB.DPD-NFS/ 980/RH-1/2010-11 dated 08 October 2010.Circular No. 196 /DPD-NFS 03 /2010) |
