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Sunday, August 03
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SCDCC Bank files objection to new rule of NABARD

SCDCC Bank files objection to new rule of NABARD


Mangalore Today News Network

MANGALORE, Aug 13, 2013 : A latest order from NABARD  which  deprives  co-operative societies in villages from advancing loans has been strongly opposed by the SCDCC Bank.

 MN Rajendra Kumar, President of SCDCC Bank said the new rule issued on July 27  has weakened the co-operative societies and will  convert the co-operative societies into an agent of disbursing loans.


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He said the rule would be opposed at the state level meeting to be held in Bangalore shortly. Rajendra Kumar has also sought the support of all political parties for this cause and added the SCDCC Bank has already appealed to the state government  against implementing the new rule of NABARD in Karnataka.


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