NEW DELHI: Union home and cooperation minister Amit Shah on Sunday appealed to people associated with cooperative institutions to open their bank accounts in District Cooperative Banks (DCBs) to help the cooperative sector become viable.
He said if the mantra of “cooperation among cooperatives” is successful, cooperative institutions will not need to take help from anyone.”There is no need to take even a single rupee from central or state govt. The entire cooperative movement can run strongly with money of cooperative institutions,” he said.
Shah was addressing the 76th AGM of Kheda District Central Cooperative Bank Limited, Nadiad, through video conferencing. The bank has introduced loan management, document management system and tablet banking for the first time in the cooperative banking system of Gujarat, which is considered a landmark achievement. Nadiad is in Kheda district from where Amul was started.
Referring to this successful model of cooperatives, Shah said Amul set an example of achieving “Sahkar se Samriddhi” (prosperity through cooperation) in front of the entire country and the world.
The Union minister said since its inauguration in 1950, Kheda District Cooperative Bank has served farmers of the region well and today it is in net profit of about Rs 31 crore. There were times when there were apprehensions about its future, but after getting the license in 2012, it now has a reserve fund of Rs 258 crore and deposits of Rs 2,500 crore.
Shah expressed the need for involving DCBs for strengthening Primary Agricultural Credit Societies (PACS), saying stronger PACS will further strengthen cooperative banks.
He said if the mantra of “cooperation among cooperatives” is successful, cooperative institutions will not need to take help from anyone.”There is no need to take even a single rupee from central or state govt. The entire cooperative movement can run strongly with money of cooperative institutions,” he said.
Shah was addressing the 76th AGM of Kheda District Central Cooperative Bank Limited, Nadiad, through video conferencing. The bank has introduced loan management, document management system and tablet banking for the first time in the cooperative banking system of Gujarat, which is considered a landmark achievement. Nadiad is in Kheda district from where Amul was started.
Referring to this successful model of cooperatives, Shah said Amul set an example of achieving “Sahkar se Samriddhi” (prosperity through cooperation) in front of the entire country and the world.
The Union minister said since its inauguration in 1950, Kheda District Cooperative Bank has served farmers of the region well and today it is in net profit of about Rs 31 crore. There were times when there were apprehensions about its future, but after getting the license in 2012, it now has a reserve fund of Rs 258 crore and deposits of Rs 2,500 crore.
Shah expressed the need for involving DCBs for strengthening Primary Agricultural Credit Societies (PACS), saying stronger PACS will further strengthen cooperative banks.