The government has appointed a Task Force headed by A Vaidyanathan of Madras Institute of Development Studies, to prepare an action plan for reviving rural cooperative banking institutions and suggest appropriate regulatory framework for that.
The Task Force, which will also assess the financial assistance required by the cooperative banking institutions for their revival, will submit its report by October 31 this year, an official release said.
The other members of the task force include Shri Rama Reddy, President Sahavikasa Cooperative Development Foundation, Hyderabad, Prof M S Sriram, Indian Institute of Management, Ahmedabad, Representative of the Department of Agriculture and Cooperation and Representatives of Governments of Orissa, Uttar Pradesh and Maharashtra.
Dr Y S P Thorat, NABARD is the member secretary, A V Sardesai, Executive Director, RBI, Mumbai and the legal officer, RBI, Mumbai are the permanent invitees of the Task Force.