Nabard to enhance monitoring co-op banks

Mumbai: National Bank for Agriculture and Rural Development (Nabard) is in the process of strengthening the supervisory framework in all district central cooperative banks, regional rural banks and state cooperative banks.

We will have offsite surveillance systems and are also looking at training our own officials as well officials of cooperative banks, says Nabard chairman Y Nanda. Along with better supervision, Nabard will focus at maintaining a better quality of staff.

Nabard managing director M V S Chalapathi Rao says the bank is also planning surprise inspections instead of the current practice of inspections after informing the officials. A flying squad approach will also be formulated wherein Nabard will constitute a two-to-three-member team to carry out immediate investigation.