UCBs have to be prepared for branchless banking: Amin

Gujarat State Cooperative Union held a banking webinar on “Challenges, Changes and Changes Post Covid -19” recently which was presided over by Ghanshyambhai Amin, Chairman of the Gujarat state cooperative union.

Sharing his own experiences with regard to the changes in banking technology Amin recalled that as the Chairman of Cooperative Bank of India, he had arranged a visit to Sweden for the delegates of the country and held a Banking Seminar there.

Recalling the take aways from the COB seminar, Amin said the time has come for Branchless Banking. “Responding to the need of the time, Urban Cooperative Banks also will have to embark upon the latest technology by way of the up-gradation so the customers can be attracted by way of catering the latest services and protecting them from the cyber hackers”, Amin stated.

The Urban Cooperative Banks will have to be efficient and professional bankers to withstand and survive the stiff competition in the banking sector, he underlined. He also said the Union Government has taken up the merger of 3 to 4 Public Sector Banks and this merger is likely to benefit the economy. It is also important the office bearers and the employees of the Urban Cooperative Banks make an in-depth study of the guidelines of RBI.

Kanjibhai Bhalada, Chairman of Varachha Cooperative Bank, Surat, said in the present time, it is necessary that the administrators and employees of the Cooperative Banks and Institutes remain continuously in close contact and coordination through Cooperative Training Classes and Webinar and keep themselves in touch with the latest situation of the market.