Rajasthan: CM Ashok Gehlot has written a letter to PM Narendra Modi (Narendra Modi) demanding the state's right to take action against Multilevel Co-operative Societies.
CM Ashok Gehlot has written a letter to PM Narendra Modi demanding that the state governments be empowered to take action against Multilevel Co-operative Societies.
Along with this, Gehlot has also demanded the withdrawal of the amendments made in the new banking regulation act related to cooperative banks. CM Gehlot has given this information by tweeting.
CM Gehlot tweeted that a large number of people have invested in multi-state co-operative societies. In Rajasthan, we have received complaints of irregularities worth Rs 1419.77 crore from 73 thousand investors.
Multi-level co-operative societies are under the administrative control of the central government. CM said that he has written a letter to Prime Minister Narendra Modi in this regard.
In the letter, the PM has been requested to direct the Central Registrar to give the right to take action against multi-level co-operative societies to the State Cooperative Department so that the interests of investors can be protected.
A large number of common people have invested in Multi State Cooperative Societies. In Rajasthan, we have received complaints from around 73 thousand investors regarding irregularities amounting to 1419.77 crore Rupees.— Ashok Gehlot (@ashokgehlot51) October 19, 2020
As Multi State Cooperative Societies r under administrative control of GoI,written a letter to PM Narendra Modi ji seeking remedial measures including directing Central Registrar to authorise State’s Cooperative dept to tk action in matter in order to save interests of common ppl— Ashok Gehlot (@ashokgehlot51) October 19, 2020
Central Govt has recently amended provisions of Banking Regulation Act,which are against basic principles of cooperatives & would have a negative impact on functioning of State Cooperative Banks.Have written to PM Narendra Modi ji asking him that these amendments be withdrawn.— Ashok Gehlot (@ashokgehlot51) October 19, 2020
Under the new provisions, all administrative control of the Co-operative Banks has been given to the RBI. As a result, the administrative control of the co-operative banks under the state govt will go under RBI, which is an encroachment on the principle of co-operatives.— Ashok Gehlot (@ashokgehlot51) October 19, 2020
Under amended provisions, the principle of one member one vote does not hold any longer. The previous structure and provisions must be restored in the interest of cooperatives.— Ashok Gehlot (@ashokgehlot51) October 19, 2020
In the letter, CM has also demanded the withdrawal of several amendments in the Banking Regulation Act. CM has written to the PM that the Central Government has recently amended the Banking Regulation Act. This is against the basic principles of cooperatives. This will have a negative impact on the functioning of state cooperative banks. Under the new provision, all administrative controls of cooperative banks have been given to RBI.
As a result, cooperative banks with administrative control of state governments will come under the control of RBI. It transcends the spirit of co-operation. Under the new provisions, a person will not have the principle of one vote. The old provisions should be reverted in the interest of cooperatives.