NABARD - National Bank For Agriculture And Rural Development

Other Initiatives

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 re-compliance 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.
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.
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.

Other Initiatives

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