TEAM HERALD
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PANJIM: If the mining ban continues for another three months, the entire co-operative sector in the State could sink, Chief Minister Manohar Parrikar told the House on Tuesday.
Parrikar also told the House that he was trying desperately to meet the Governor of the Reserve Bank of India in a bid to work out a solution to save the State’s co-operative banks faced with mounting NPAs to the tune of Rs 600 crore.
“The co-operative movement in the State is closely linked to the mining industry, to the tune of Rs 600 crore. If the mining ban continues for another five to six months the entire cooperative sector could sink with it,” Parrikar, who participated in the discussion on demand for grants for the co-operative sector, said.
“I’m making a desperate attempt to get in touch with the RBI governor to restructure the loans,” Parrikar said, adding that the State’s apex (co-operative) bank had a total loan liability of truck and barge owners, to the tune of Rs 101 crore, while other banks like the Goa Urban Co Operative Bank have a liability of Rs 77 crore, while smaller banks had Rs one or two crore liability.
“Each cooperative bank has at least one or two trucks and barges liability. Once it starts, it will have a cascading effect. People have not taken it too seriously,” Parrikar said.
Currently, the GSCB has liability of Rs 11 crore which could soon jump up to Rs 101 crore over the next five to six months, Parrikar said. He however, assured that government would make efforts to ensure that no bank will sink.
“We will work out a solution. We will get something going,” Parrikar said.
The issue came up during the discussion for demands for grants for the cooperative department where the precarious situation of the state’s cooperative banks was discussed.
Ruling MLAs including Nilesh Cabral demanded that action be taken against banks especially Shiroda Cooperative Society and the Curti Cooperative Society which they said should be probed for their suspicious dealings, doling out of loans and other irregularities.
Parrikar promised to bring to book all those involved in the fraudulent transactions of these banks.
Cabral had demanded that action be taken against the chairmen who were at the helm of these banks during those times.
