Keeping in view the urgent requirement arising out of a recent amendment to the National Banking (Regulation) Act, 1949, the STCI (State Trading Centre of India) organised a training camp for bank officials here recently. Senior officials of all the 17 Central Cooperative Banks in the State attended the camp.
The recent statutory amendment makes it mandatory for all cooperative banks to share a stipulated amount from its total deposits as Statutory liquidity Ratio (SlR) investment.
The recognised Primary Dealer (PD) of the Reserve Bank of India and the STCI having expertise in the treasury and bond business sectors organised the training camp at the Odisha State Cooperative Bank conference room under the chairmanship of the bank’s MD Tusharkanti Panda. STCI Vice-President Sidhharth Saha and Assistant Vice-Presidents Satish Sharma and Anshul Arora were also present in the camp. Around 35 senior officials from the 17 cooperative banks attended the training.
While STCI Vice-President spoke on the usability of the new law in profit making for the banks, the Assistant Vice-Presidents imparted detailed information on the new legal provisions and financial aspects. Post an RBI directive, the STCI is organising such training camps in every State.