Other Initiatives

  • Functioning of the supervised banks is being monitored through various statutory returns prescribed by the RBI/NABARD including OSS returns
  • State Level Groups comprising Registrar of Cooperative Societies (RCS), Apex Bank, Cooperation & Finance Department of State Government, Director of Audit and non-compliant banks have been constituted for preparing / discussing suitable strategy for banks not complying with the provisions of Section 11(1) of BR Act, 1949 (AACS) and monitoring the progress of Action Plan prepared by them to facilitate recompliance with the provisions.
  • After implementation of revival package under VC-I, State Level Task Force (SLTF) has been constituted and is meeting periodically. Issues related to the financial health of the cooperative banks and various other important issues are being discussed therein.
  • Periodic discussions are held with the CEOs of Apex Banks, RCS, State Government, etc., as also with the Chairmen of RRBs about the supervisory concerns.
  • Training for submission and processing of Revised Off-Site Surveillance System Returns conducted;
  • Workshops for Statutory Auditors were conducted at the State Level to improve the quality and effectiveness of the statutory audit in Cooperative Banks;
  • Regional Offices of NABARD & Training Establishments conduct sensitisation workshops on KYC (Know Your Customer) /AML (Anti-Money Laundering), Credit Monitoring Arrangement (CMA), Frauds, Investments, Internal Checks & Controls, Corporate Governance, Investment Management, Asset Liability Management (ALM) etc. for supervised entities;
  • NABARD HO in association with the Financial Intelligence Unit-India (FIU-IND), Government of India had also conducted two workshops-cum-review meets of supervised banks to review and sensitise the Principal Officers regarding implementation of KYC/AML.
  • In lines with the revised supervision strategy, during 2017-18, NABARD conducted statutory inspections of 346 banks with reference to financial position as on 31 March 2017. 
  • The data portal EnSuRE  enabled to submit Off-Site Surveillance (OSS) Returns on online by banks, has stabilised. This portal is an enterprise level, web-enabled data collection and management system. It helps in the convergence of onsite inspection and offsite surveillance systems, resulting in quality  and timely availability of data.