Punjab Chief Minister Parkash Singh Badal on Friday approved a slew of reforms for the upgradation of services in the co-operative banking sector in the State to the advantage of the farmers.
Badal has also made up his mind to do away with the prevalent practice of electing political appointees as managing directors in the district branches of banks across the State.
The decisions were taken in a high level review meeting of the co-operation department held under the Chief Minister.
Badal proposed to appoint professionals as MDs in lieu of political appointees, mainly to bring far more efficiency in the delivery system of the banks on one hand, and enhancing profitability, on the other.
“Appointment of professionals on these posts will make these institutions financially viable and economically sustainable,” said the spokesperson, adding that the process of making appointments with professionals with expertise in banking sector would be implemented gradually.
Badal also laid thrust on the complete renovation of these banks by computerisation of all its 805 branches in the State along with implementing the Core Banking Service in them.
Giving his nod for the recruitment of 300 clerks, 21 assistant system analysist and 50 managers, Badal asked the department to ensure that the recruitment was held every year through centralised recruitment process in a transparent manner so as to attract the best talent for the banking services.