State seeks withdrawal of RBI notice on coop. societies
The Hindu
RBI cautioned against societies using ‘bank’ in their names without authorisation
The State government has urged the Reserve Bank of India (RBI) to withdraw the ‘caution notice’ issued by it regarding cooperative societies stating that it sows confusion among the public and harms the credibility of the societies in Kerala.
Minister for Cooperation V.N. Vasavan, in a letter on Thursday, requested RBI Governor Shaktikanta Das to direct the officials to draft their messages without ambiguity.
In a separate letter to Yogesh Dayal, Chief General Manager (Department of Communication), RBI, on Wednesday, the Registrar of Cooperative Societies, Kerala, P.B. Nooh, sought the withdrawal of the RBI notice saying that it was contrary to law and would create confusion among the members of cooperative societies and the public.