Co-op News - February 2020

GLOBAL
Woccu calls for nominations for Distinguished Service Award
The World Council of Credit Unions
(Woccu) is now accepting nominations
for its 2020 Distinguished Service Award
(DSA), for people and organisations who
have worked on credit union development
outside their own country.
The awards are aimed at individuals
and organisations who have “furthered
Woccu’s vision to expand financial
inclusion worldwide through credit
unions”, and nominations can
be submitted by Woccu member
organisations. Credit unions affiliated
with Woccu member organisations
can also nominate individuals or
organisations with the endorsement of
a Woccu member organisation.
Individual awards go to people who
have significantly benefited global credit
union development beyond their national
boundaries. Institutional awards go to
organisations that have provided financial
or technical assistance to develop
international credit union movements
and their service infrastructures over an
extended period.
“The Distinguished Service Award is
the highest honour one can receive in
the global credit union community,” said
Woccu president and CEO, Brian Branch.
“We are pleased to recognise and celebrate
those who have gone above and beyond,
leaving an impressionable footprint in our
global movement.”
The awards are presented based on
the proven achievements and worthiness
of candidates, according to the World
Council Award Committee’s review.
This year’s recipient will receive
a complimentary conference registration
Distinguished Service Award
and one companion registration for the
2020 Joint Credit Union Conference, where
the award will be presented.
At the 2019 World Credit Union
Conference in the Bahamas, the DSA
went to Sylvester Kadzola of Malawi
and the Organization of Brazilian
Cooperatives (OCB).
Nominations for this year’s award are
open until 27 March.
INDIA
“Scheme on voluntary transition of Urban proportion of its existing loan portfolio
Reserve The Distinguished Bank Service Co-operative Award (DSA) Bank is the into international a Small Finance credit was union already system’s classified highest as priority honor, sector.
Bank” issued in September 2018.
The bank’s chief executive, Suveer
of India gives
first
approval
presented by World Council in 1986 to recognize member organizations and individuals for
their outstanding contributions The decision to credit sets union a precedent development – it is the outside Kumar their Gupta, home said: country. “It is a privilege
for conversion of
first time a licence has been issued by and an honour for Shivalik to be the
the RBI to an urban co-op bank (UCB) to first UCB in the country to receive inprinciple
approval from the RBI for
co-operative bank
become a small finance bank. Saharanpurbased
Shivalik Categories
Mercantile Cooperative transitioning into a Small Finance Bank.
2020 Nomination
On 6 January the Reserve Bank of India Bank has 18 months to comply with all the The significant efforts put in by the team
World Council member organizations may submit nominations in the following categories:
gave its ‘in principle’ approval for the criteria required to obtain the small finance at Shivalik over a period of time have
Shivalik Mercantile Cooperative Bank bank licence.
led us to this momentous day and I’m
DSA Individual:
to convert into a Small Finance Bank Small finance banks in India face excited by the motivation this provides
(SFB). The transition Individuals is allowed under who have the provided lending exemplary restrictions, service unlike to the urban international us to credit move union forward movement to furthering and our
have positively influenced co-operative credit union banks, development which operate outside as their growth home ambitions. country qualify for the
individual category. universal banks and can undertake all “We will continue to service our goals
activities permitted to commercial banks. of financial inclusion and supporting
DSA Institutional: They are also required to extend 75% of the growth of small businesses through
their loans to priority sectors, such as a differentiated technology focus. We
Organizations that have provided financial and technical assistance over an extended period
agriculture, micro, small and medium believe these are essential to the growth
of time to develop international credit union movements and their service infrastructure may be
enterprises, education or housing. of our nation and technology adoption is
nominated in the institutional
These banks
category.
need to have 50% of their allowing us to leap frog into previously
loan portfolio as small loans of up to Rs under explored segments.”
2.5m (£27,000).
Indian urban co-operative banks have
2020 Nomination Criteria
Shivalik Mercantile Cooperative Bank been in the spotlight over a scandal
The World Council awards operates committee 31 branches reviews all across nominations Uttar Pradesh, and selects involving the DSA one recipients. of the sector’s Only World largest banks.
Council member organizations Madhya may Pradesh make DSA and nominations. Uttarakhand. Individuals nominated The Maharashtra for the Co-operative award should Bank was
demonstrate some or all of March the following: 2019 it had total deposits of Rs taken over by RBI last year after concerns
• Personal history of commitment 10.051bn (£110m), to international while credit its loan union book development about the outside accuracy the nominee’s of its home financial
country.
stood at Rs7.15bn (£7.6m).
statements. More than 20 co-op banks are
• A record of technical service
In
to
a
the
statement
development
on the
of other
RBI’s
credit
approval,
union movements
now under
beyond
RBI’s
their
administration.
own national
boundaries.
Shivalik Mercantile Cooperative Bank RBI has recently also revised its
said it was well placed with respect to Supervisory Action Framework to initiate
• Ongoing institutional development by playing a leading role in advancing World Council.
compliance to the operating guidelines prompt corrective action for urban co-op
• Ability to locate and mobilize resources needed by World Council and
for Small Finance Banks with a large banks
its affiliates
facing financial
to establish
stress.
strong
p Reserve Bank of India Building at Dalhousie
credit union movements wherever they are sought.
Institutions nominated for the DSA must meet the following qualifications:
20 | FEBRUARY 2020• Ongoing commitment to international credit union development for more than three years.
• Technical assistance provided beyond the nominee’s borders has led to measurable results within the
region receiving it and has an ongoing history following the end of the period of assistance.