Banking sector enjoys public confidence

BANGALORE: Urging the state government to build more institutions in the co-operative banking sector, Governor H R Bhardwaj said the banking sector has the privilege of ‘enjoying public confidence’.Speaking at the inauguration of the fifth branch of Sree Charan Co-operative Bank in Jayanagar, he said that banks in India have saved the country during economic crisis.Explaining the importance of the co-operative sector, Bhardwaj said that both agriculture and education sector are being controlled by the co-operative sector. While he praised the strength of the country‘s banking system, he regretted decline in Gandhian values. “The country has seen a reversal of economic policies. But these are on the lines of the American system. What about Gandhian values or Vinoba Bhave’s ideas?” he questioned.He recounted the lack of dedicated policies and programmes for the poor when he was part of the Planning Commission. “Many changes have been brought in and there are many pro-poor policies now. NREGA is one among them,” he added.Refuting allegations levelled against the co-operative sector calling it incompetent, Justice M N Venkatachaliah, former chief justice of India, he said that all institutions have suffered because of increasing politicisation and it is incorrect to call the co-operative sector incompetent because it is a tool of the Government.