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November 5, 2001 - November 5, 2001

Co-op banks agree to pitch in for MMCB Monday, November 5, 2001

News Source : Times News Network
AHMEDABAD: Co-operative banks in Gujarat have finally agreed to infuse Rs 800 crore for revival of the ill-fated Madhavpura Mercantile Co-operative Bank (MMCB), thus bringing an end to the long-drawn suspense.

A committee of 14 co-operative banks was formed to step up resource mobilisation for MMCB revival, the decision for which was taken at a board meeting of the Gujarat State Urban Co-operative Banks Federation on Saturday.

Two of the key players in this revival process - chairman of the Gujarat State Urban Co-operative Bank Jairam Patel, and chairman of the Gujarat State Urban Co-operative Bank federation Atmaram Patel -, who were initially reluctant about the entire MMCB revival process, have agreed to back the plan, sources said.

The board meeting was held after persuasion of the state finance minister Nitin Patel who also attended it. The federation was asked on October 29, 2001 to hold a board meeting to convince their member banks to adhere to their commitment, which has been given to the revival committee set up for the MMCB revival.

It may be pointed out that the member banks of the Federation and the Ahmedabad District and City Bank Union had agreed to contribute 4 per cent (Rs 800 crore) of the total deposit amount towards MMCB revival.

The board meeting also decided that the co-operative banks would deposit their contributions in the Gujarat State Co-operative Bank, against which the Centre and the state governments have given a guarantee in the ratio of 70:30.

The state government had approached the Central Registrar of Co-operative Societies seeking a two-month extension of its October 31, 2001, deadline for revival of MMCB.

The extension was being sought mainly due to the fact that the state government and the co-operative banks had failed to raise the required Rs 800 crore in stipulated time.

News Source : The Times of India [India's best Newspaper]


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Quake-hit people seek loans Monday, November 5, 2001

GANDHIDHAM: Group 2001, an association of quake-hit people, of Gandhidham has decided to take up the issue of difficulty in getting proper certificates from revenue authorities to secure subsidies, loans and ration cards with the district collector. They say the mamlatdar office do not issue the necessary certificates which has compounded to their problems.
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JUNAGADH::Liquor seized Monday, November 5, 2001

JUNAGADH: A special squad of the prohibition department seized 151 bottles of Indian-Made Foreign Liquor (IMFL) worth Rs 52,850 from a Maruti car in Nagarvada area here on Thursday night. One Chandu Bachu of Kadiawad area was arrested and his car seized.
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JAMANGAR::Foundation for a health centre laid Monday, November 5, 2001

JAMNAGAR: The foundation stone for the Rs 1.65-crore community health centre complex at Kalavad was laid by state health minister Ashok Bhatt on Saturday. The centre was destroyed during the January 26 earthquake. Most of the funds were collected from non-resident Indians (NRIs) led by Mukesh Patel. The American Association of Physicians of Indian Origin Charitable Foundation, the American Indian Foundation and Shakti Kripa Charitable Trust of Vadodara also contributed towards building the complex.

News Source : The Times of India [India's best Newspaper]


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JUNAGADH::Contaminated water Monday, November 5, 2001

JUNAGADH: Water pipelines along the way to Mt Girnar were breached due to the construction of a four-track road. People of this area have complained of receiving contaminated drinking water for the last two weeks. They say despite informing the authorities and the talati-cum-mantri nothing has been done yet.

News Source : The Times of India [India's best Newspaper]



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