NT NETWORK
PANAJI
Coming out with the information that the Goa State Co-operative Bank has reached a financially precarious position with its present capital inadequacy standing at Rs 128 crore, Chief Minister Manohar Parrikar on Friday said that board of directors of the bank has agreed to resign, with the government seriously considering bringing an amendment to the Goa Co-operative Societies Act so as to appoint an administrator on the bank, for a period of five years.
“I carried out an independent audit of the bank and found out these facts,” he added.
Parrikar, who also holds the co-operation portfolio, replying to a related question from Curtorim MLA Aleixo Reginaldo Lourenco in the state legislative assembly said the bank needs to be brought under financial control by immediately appointing a financial expert in banking.
“The particular bank presently enjoys the status of a multi-state bank and the exercise of converting it into a state co-operative bank is on the verge of completion,” he noted.
The Chief Minister also informed the House that the National Bank for Agriculture and Rural Development has agreed to provide loan to the Goa State Co-operative Bank.
It was also informed that Suresh Lotlikar, the managing director of the bank, retired on superannuation on December 31, 2015, but was granted an extension in service on contract basis, and is still holding the said post.
“The Registrar of Co-operative Societies has advised that the senior most official of the bank next to the managing director in hierarchy be given additional charge,” Parrikar informed, adding that a complaint was received from one Evencio Quadros on September 23, 2016 complaining that the managing director is being instrumental for not releasing the loan sanctioned to him.