Co.Op Banks are covered under RTI ?

[Nitin Raval]

Co.Op Banks are covered under RTI ? If yes state Co.Op. departments are directed to take appropriate measures?

[kushal]

I am not sure about Cooperative Bank architecture hence would not be able to comment upon it's status, however, I had explained it in one of the appeal decided by the CIC here, which may help you in this issue.
http://www.rtiindia.org/forum/600-post1.html

Let us know if you were able to apply and deduct the conclusion for Cooperative Bank.

I cannot understood the 2nd query, can you be more elaborative on that issue?

[maneesh]

The Co operative banks in India started functioning almost 100 years ago. The Cooperative bank is an important constituent of the Indian Financial System, judging by the role assigned to co operative, the expectations the co operative is supposed to fulfil, their number, and the number of offices the cooperative bank operate. Though the co operative movement originated in the West, but the importance of such banks have assumed in India is rarely paralleled anywhere else in the world. The cooperative banks in India plays an important role even today in rural financing. The businessess of cooperative bank in the urban areas also has increased phenomenally in recent years due to the sharp increase in the number of primary co-operative banks.

Co operative Banks in India are registered under the Co-operative Societies Act. The cooperative bank is also regulated by the RBI. They are governed by the Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965.

Cooperative banks in India finance rural areas under:

* Farming
* Cattle
* Milk
* Hatchery
* Personal finance

Cooperative banks in India finance urban areas under:

* Self-employment
* Industries
* Small scale units
* Home finance
* Consumer finance
* Personal finance

Some facts about Cooperative banks in India

* Some cooperative banks in India are more forward than many of the state and private sector banks.

* According to NAFCUB the total deposits & lendings of Cooperative Banks in India is much more than Old Private Sector Banks & also the New Private Sector Banks.

* This exponential growth of Co operative Banks in India is attributed mainly to their much better local reach, personal interaction with customers, their ability to catch the nerve of the local clientele.




Coperative Bank can be private as well as State Coperative Bank. State Cooperative Bank appears to be covered under RTI . One can ask information from State Cooperative Banks.
Example: The Haryana State Cooperative Apex Bank Limited

List of State Cooperative Banks can be fouond here.
Reserve Bank of India-State Cooperative Banks

[ganpat1956]

Ahmedabad, April 24: RELYING on a reply from the Reserve Bank of India (RBI) press relation division, Gujarat State Co-operative Bank Ltd has claimed that co-operative banks are not required to provide any information under RTI Act.

Co-operative banks are established under Co-operatives Act of their respective state or multi-state Co-operative Societies Act and “not under any parliamentary statute. Therefore, they are not ‘public authority’ as per the Act’s definition,” said Rajiv Padia, Managing Director of the Bank on Tuesday. Padia has also quoted a circular, issued in March this year by the Registrar of Co-operative Societies, Gujarat, which says that co-operative societies are not covered under RTI Act.

However in a recent order, given in a case against Unjha Agricutural Produce Market Committee, Chief Information Commissioner declared this circular as void. “Therefore, the impression has been created that co-operative banks are now covered under RTI,” Padia said while explaining the reason for coming out with his statement.

He said that section 2(h) of RTI Act clearly specified that private sector and co-operative banks were not covered under RTI Act and “hence, they are not supposed to provide information under the said Act”.

Quoting RBI Chief General Manager, heading public relations division, Alpana Killawala, Padia has said UCBs are not covered under RTI Act.

‘Co-ops not required to provide info under RTI’

[Nitin Raval]

Originally Posted by Nitin Raval

Co.Op Banks are covered under RTI ? If yes state Co.Op. departments are directed to take appropriate measures?

1. Co.Op Banks are initially Registered as Co.Op. Society under State Co.Op. Act by the Legislaters of the State.
2. Getting Licence for Banking under Banking Regulation Act, 1949.
3. RBI controls the Banking Buisnes. Periodical Inspections, guidelines for finance, investments, deposits etc. Strictly from RBI.
4. Collects Deposit from Public.
5. Audit under Section 84 of State Co- Op. Act, strictly every year.

How do you think applicabality of RTI ?

[karira]

Attached is a judgement of the Tripura SIC ruling that Tripura State Cooperative Bank Ltd. is a Public Authority as defined in the RTI Act 2005.

Members can pick up some points from this judgement to decide whether other cooperative banks in different states are also PA's.

[Nitin Raval]

Dear friend,

Same decision regarding Co-operative bank is given by the Gujarat State Information Commiission in 2007 in my appeal; I reported RTI the success. But Gujarat High Court has stayed the same so helpless.

Nitin Raval.

[jps50]

Coop Dept, Govt of Gujarat has vide its circular dated 30-03-2007 advised coop banks in the state to comply with RTI Act. State or District Central Coop banks are govt owned and hence fall under RTI. However Gujarat and Karnataka SIC have decided that all coop banks are under RTI. Alternatively, one can collect information on any coop bank from Dist Registrar of Coop Societies and RBI under section 11 of RTI Act.

[Nitin Raval]

Co-op bank directors are having very sound political back ground. They are treating district registrar as a peon, DR is also habituated likewise ( this is my proved experience). Hence anything to get through DR regarding Co-op Bank is next to impossible.
Nitin Raval

[jps50]

Why not try RBI? At least audit reports will be available with RBI.