Latest news with #NDCC
Time of India
a day ago
- Business
- Time of India
Farmers ready to repay only capital amount of loan taken from Nashik District Central Cooperative bank
Nashik: Members of the Shetkari Sanghatana's Nashik district unit met with the officials of the Nashik District Central Cooperative Bank to reiterate their demand that farmers who are defaulters should be allowed to refund the capital in instalments without any interest. Tired of too many ads? go ad free now According to Bhagwan Borade, the state coordinator for Shetkari Sanghatana, an agitation has been ongoing since June 1, 2023, in front of the Nashik Civil Hospital. The farmers are demanding that interest be completely waived on their loans. Borade, highlighting discrepancies in the bank's accounting, said, "Farmers who took a loan of Rs 2 lakh have already repaid more than Rs 4 lakh, and still the outstanding with them is about Rs 5 lakh. A farmer took a loan of Rs 7 lakh for a tractor, repaid Rs 16 lakh, and the outstanding shown is Rs 42 lakh. What kind of banking is done by the NDCC?" Borade further criticised the bank's reluctance to reduce interest rates despite farmers' willingness to repay after concessions. "When farmers were ready to repay the loan after a concession in interest, the bank was not ready to cut the interest. Now that the farmers are asking the bank to waive off the interest, the bank is coming up with lower interest rates," he said. The farmers have faced significant hardships, including the auctioning of their land. Borade said, "We have suffered immensely. The land of the defaulting farmers is being auctioned, and they are left with nothing. We, therefore, met Vidyadhar Anaskar, who is the chairman of the administrative board of Maharashtra State Cooperative Bank, which has been announced as the institutional advisor to the NDCC, and requested him to go through our proposal. Tired of too many ads? go ad free now " In response, the NDCC Bank announced a one-time settlement (OTS) scheme in its recent general body meeting. The scheme will charge 2% interest on loans of up to Rs 1 lakh, 4% on loans from Rs 1 to Rs 4 lakh, 5% for loans up to Rs 10 lakh, and 6% for loans beyond those amounts. Currently, the NDCC Bank has an outstanding of Rs 983.3 crore in capital and Rs 1,299.8 crore in interest from 56,040 defaulters, totalling Rs 2,283 crore. The farmers have proposed that since the bank has agreed to bear the loss of Rs 620 crore, the remaining interest of Rs 679 crore should be subsidised by state govt. This subsidy would enable farmers to repay the outstanding capital in 10 equated monthly instalments. Borade warned, "We are ready, and we need immediate results. If govt delays in taking a decision, we will be intensifying our agitation from Aug 15, and then our demands will change. "
Zawya
22-07-2025
- Business
- Zawya
Kuwait: MEW gets CAPT approval to link external sites, NDCC
KUWAIT CITY - The Ministry of Electricity, Water and Renewable Energy has obtained approval from the Central Agency for Public Tenders (CAPT) to issue a tender for linking the external sites of the ministry with the National Data Control Center (NDCC), say sources from the ministry. Sources indicated that this tender is included in the contracts of the ministry for the current fiscal year and are scheduled to be implemented by the Planning, Training and Information Systems Sector. Sources revealed that the tender is for linking the external branches with the data center in the main ministry building and the NDCC in order to allow the exchange of information and provision of electronic services. Sources pointed out that 'subject to the approval of CAPT, the tender will be announced and a date will be set for specialized companies to submit their bids, select the winning bid and implement the project under the regulations.' Sources added the ministry intends to install five main power transformer stations for the Automobile Circuit Project -- Rawda Block Three, Kabd C, cow farms, Sharq Block Four and Al- Arabi Club; in addition to supplying and extending the necessary underground cables to feed the five planned stations through two tenders: the first for the stations and the second for the cables. Sources said the two tenders aim to provide the energy needed to expand the high-voltage and ultra- high-voltage electrical networks resulting from the increased demand for electricity in the aforementioned areas, as well as to provide electricity continuously throughout the day. Moreover, the ministry also confirmed the start of electricity connection in Al-Mutlaa Residential City (N1 District - parts of Block One; in cooperation with the Public Authority for Housing Welfare (PAHW). It reiterated that it is now receiving applications to connect electricity to 251 plots Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Arab Times
21-07-2025
- Business
- Arab Times
MEW gets CAPT approval to link external sites, NDCC
KUWAIT CITY, July 21: The Ministry of Electricity, Water and Renewable Energy has obtained approval from the Central Agency for Public Tenders (CAPT) to issue a tender for linking the external sites of the ministry with the National Data Control Center (NDCC), say sources from the ministry. Sources indicated that this tender is included in the contracts of the ministry for the current fiscal year and are scheduled to be implemented by the Planning, Training and Information Systems Sector. Sources revealed that the tender is for linking the external branches with the data center in the main ministry building and the NDCC in order to allow the exchange of information and provision of electronic services. Sources pointed out that 'subject to the approval of CAPT, the tender will be announced and a date will be set for specialized companies to submit their bids, select the winning bid and implement the project under the regulations.' Sources added the ministry intends to install five main power transformer stations for the Automobile Circuit Project -- Rawda Block Three, Kabd C, cow farms, Sharq Block Four and Al- Arabi Club; in addition to supplying and extending the necessary underground cables to feed the five planned stations through two tenders: the first for the stations and the second for the cables. Sources said the two tenders aim to provide the energy needed to expand the high-voltage and ultra- high-voltage electrical networks resulting from the increased demand for electricity in the aforementioned areas, as well as to provide electricity continuously throughout the day. Moreover, the ministry also confirmed the start of electricity connection in Al-Mutlaa Residential City (N1 District - parts of Block One; in cooperation with the Public Authority for Housing Welfare (PAHW). It reiterated that it is now receiving applications to connect electricity to 251 plots Al-Seyassah/Arab Times Staff
Time of India
18-05-2025
- Business
- Time of India
NDCC administrator: Focus on recovery & transparency
Nashik: With a clear mandate to revitalize the Nashik District Central Cooperative (NDCC) bank, newly appointed administrator Santosh Bidwai wasted no time in outlining his strategy, prioritizing loan recovery from defaulters and signalling the imminent auctioning of properties. Bidwai, who also serves as the divisional deputy registrar, has been entrusted by state govt with the responsibility of revitalizing the bank. His appointment follows the resignation of the previous administrator Pratapsinh Chavan. Bidwai is expected to spearhead efforts to restore the bank's financial health and reputation. "I will engage with both loan defaulters and investors to assure that the process would be conducted transparently, in the interest of the bank and its investors," he said. He also emphasised the importance of conducting the recovery process by implementing necessary measures in the coming month and seeking the required permissions for property auctions to recover outstanding money from defaulters. "This approach aims to boost investor confidence and attract more investment, which will help the rotation of money in the bank. The bank will get business, thus earn some money and help retain the banking licence that is now at the mercy of the Reserve Bank of India (RBI) following an outstanding of over Rs2,200 crore," said Bidwai. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo Retaining the banking licence is of utmost importance, and Bidwai plans to seek state govt's assistance wherever needed. "I will follow up with the govt to get a new one-time settlement scheme that aligns with the needs of the farmers, encouraging them to repay the loans and help the bank recover some of the losses. The bank will also follow up with state govt for the share capital it requires to function properly," he said. Bidwai said his target was the circulation of funds in the bank and added that he was confident that investors and defaulters would cooperate.
Time of India
02-05-2025
- Business
- Time of India
Administrator of NDCC Bank ‘unable to carry forward recovery process', resigns
Nashik: Nashik District Central Cooperative (NDCC) bank administrator Pratapsinh Chavan has sent a resignation letter to the commissioner of cooperatives, Maharashtra. The letter was sent by post on April 24 and then emailed on May 2. Tired of too many ads? go ad free now Commissioner of cooperatives Deepak Taware said, "We have received the resignation letter, but it has not been accepted as of now." Taware did not divulge the contents of the resignation letter, while Chavan refused to comment on it. According to a senior officer from the bank, the administrator expressed his inability to carry forward the process of recovery. The bank has 80% of the outstanding Rs 2,200 crore with the farmers and political intervention has delayed the recovery, further threatening the existence of the bank. "The administrator recently visited my office when we discussed the recovery. He expressed his inability to continue as the administrator. As of now, he has tendered his resignation, which has still not been accepted. Having said that, we are looking for his replacement," Taware said. In the resignation letter, sources said the administrator clearly marked his annoyance with the developments. "At the last AGM of the bank, held at Dadasaheb Gaikwad Sabhagriha, the administrator emotionally appealed to the concerned to contribute to the recovery and ensure that this was not the last AGM of the bank. Non-recovery would lead to strong action by RBI, which could strip the bank of its banking licence," the source said. "The resignation cites temporary stay on the recovery drive for three weeks during a meeting held at the district collectorate in Nashik, recently announced by agriculture minister Manikrao Kokate. This was followed by possible changes in the new one-time settlement scheme, where interest rates were likely to be lowered, creating more hurdles for the recovery and increasing the losses," said a senior officer of the bank. Tired of too many ads? go ad free now Nashik: Nashik District Central Cooperative (NDCC) bank administrator Pratapsinh Chavan has sent a resignation letter to the commissioner of cooperatives, Maharashtra. The letter was sent by post on April 24 and then emailed on May 2. Commissioner of cooperatives Deepak Taware said, "We have received the resignation letter, but it has not been accepted as of now." Taware did not divulge the contents of the resignation letter, while Chavan refused to comment on it. According to a senior officer from the bank, the administrator expressed his inability to carry forward the process of recovery. The bank has 80% of the outstanding Rs 2,200 crore with the farmers and political intervention has delayed the recovery, further threatening the existence of the bank. "The administrator recently visited my office when we discussed the recovery. He expressed his inability to continue as the administrator. As of now, he has tendered his resignation, which has still not been accepted. Having said that, we are looking for his replacement," Taware said. In the resignation letter, sources said the administrator clearly marked his annoyance with the developments. "At the last AGM of the bank, held at Dadasaheb Gaikwad Sabhagriha, the administrator emotionally appealed to the concerned to contribute to the recovery and ensure that this was not the last AGM of the bank. Non-recovery would lead to strong action by RBI, which could strip the bank of its banking licence," the source said. "The resignation cites temporary stay on the recovery drive for three weeks during a meeting held at the district collectorate in Nashik, recently announced by agriculture minister Manikrao Kokate. This was followed by possible changes in the new one-time settlement scheme, where interest rates were likely to be lowered, creating more hurdles for the recovery and increasing the losses," said a senior officer of the bank.
