PANAJI
Painting a bleak picture of the financial affairs at Goa State Co-operative Bank (GSCB), Chief Minister Manohar Parrikar on Friday said that the bank is currently facing capital inadequacy of Rs 120 crore.
Speaking on the floor of the House, Parrikar said, "The bank is in a precarious state. As per their calculations, the capital adequacy required is Rs 88 crore. When I independently carried out the audit, the capital inadequacy stands at Rs 120 crore as of today."
Informing that NABARD has agreed to provide a loan to the bank, Parrikar said, "May be we can give funds of Rs 15-20 crore. Once the bank becomes purely a Goan bank, we will declare it as an apex bank."
"The Board of Directors (BoD) has desired to resign. Some have already resigned. We will have to amend the act and put an administrator for 5 years, only then the Bank can survive," he said.
Parrikar also informed that six Sahakar Bhandars are running into losses while the remaining five have made profit. He was responding to a question tabled by Curtorim MLA Alexio Reginaldo Lourenco during the ongoing monsoon session.
Sahakar Bhandars at Dhavali in Ponda (net loss Rs 14.2 lakh), opposite Dr. Rajendra Prasad Stadium in Margao (net loss Rs 8.2 lakh), Mabai Hotel Building in Margao (net loss Rs 5.7 lakh), Usgaon in Ponda (net loss Rs 13.3 lakh), Marod in Mapusa (net loss Rs 0.4 lakh) and Sakhali (net loss Rs 12.5 lakhs) are struggling with losses.
On the other hand, Sahakar Bhandars at Junta House in Panaji (net profit Rs 60.4 lakh), opposite Municipal Market in Panaji (net profit Rs 59.4 lakh), Quepem (net profit Rs 33.7 lakh), Curchorem (net profit Rs 30.6 lakh) and Vasco (net profit Rs 25.8 lakh) have been successful in making profit.
