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| One yr extension sought from RBI Relief to 'victims' in criminal code amdmt bill | | Framing roadmap for two Coop Banks in financial crisis | | Early Times Report
Jammu, Mar 30: The cabinet today gave nod to the government proposal for seeking one year extension from RBI for preparing a roadmap for bailing out the two Central Cooperative Banks out of financial crisis. In one more significant decision that can provide relief to the victims of the criminal cases, the cabinet has also granted nod to the amendment bill for code of criminal proceedings 2012. The bill will be taken up for passage during the current session of Legislature.
Sources said the state government has sought one year extension from RBI with regard to recapitalization of the two Central Cooperative Banks - Jammu Central Cooperative Bank and Anantnag Central Cooperative Bank as no final decision could be taken in so far as the resurrecting them from the present crisis is concerned. The Cooperatives Department had mooted infusion of Rs 203 cr in the two banks so that these could be run as per the guidelines and norms set by RBI for any healthy financial institution. The government has also sent back the proposal to the parent department of Cooperatives and asked it to reconsider and reframe it so that it is commensurate with the RBI guidelines.
Even as the issue came up as main agenda in the cabinet meeting convened this evening under the chairmanship of Chief Minister Omar Abdullah, no decision could be arrived at with respect the financial status of Jammu Central Cooperative Bank and Central Cooperative Bank of Anantnag. Sources said government which has already taken up the matter for consultation in order to take them out of financial mess .
In one more vital decision the cabinet today approve Code of Criminal Procedure Amendment Bill 2012 by dint of which a provision would be incorporated to ensure compensation to the victims. This amendment is being done in compliance of Supreme Court directives. In the cabinet meeting approval was also granted for use of Forest land for some non forest development works in favour of some departments of the state.
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