Ahmedabad DCCB has solidified its reputation as the 'Tirth Sthan' (Place of Pilgrimage) for all cooperative banks: Union Minister for Home Affairs and Cooperation Amit Shah
The Union Minister for Home Affairs and Cooperation, Shri Amit Shah attends the Centennial celebration of the Ahmedabad District Cooperative (ADC) Bank as the chief guest in Gandhinagar, with other dignitaries
FinTech BizNews Service
Mumbai, 4 October, 2024: The Swarnim Shatabdi Mahotsav of Ahmedabad District Cooperative Bank (ADC) was held today at Mahatma Mandir in Gandhinagar, chaired by Union Home and Cooperation Minister Shri Amit Shah, with Chief Minister Shri Bhupendra Patel in attendance.
In his address, Union Home & Cooperation Minister Shri Amit Shah congratulated the ADC Bank Members on successfully completing a century of service. The Minister emphasized that an organization that sustains itself for 100 years through various challenges is a source of pride for society. He noted that the primary goal of cooperatives is collective upliftment, a commitment that Ahmedabad District Cooperative Bank has upheld for the past century. Beyond financial transactions, ADC Bank has made significant contributions to the social sector, enhancing the lives of many ordinary citizens. This is why ADC has genuinely become the Big Bank for Small Men.
The Union Minister stated that the centenary celebration of ADC Bank symbolizes 100 years of upliftment for farmers throughout Gujarat, including the Ahmedabad district. He recalled that ADC Bank, which began in a small room in Ahmedabad in 1925 to protect farmers and ordinary citizens from the predatory practices of moneylenders, has encountered numerous challenges over the years. Today, with a business volume exceeding Rs 17,000 crores, a profit of Rs 100 crores, a non-performing asset (NPA) rate of less than half a per cent, and loans amounting to approximately Rs 6,500 crores, ADC Bank stands as the leading district cooperative bank in the country. Shri Amit Shah highlighted that farmers in Gujarat struggled with the absence of a unified system, faced financial difficulties due to drought, and became trapped in the vicious cycle of moneylenders. In these challenging times, Mahatma Gandhi called upon Sardar Vallabhbhai Patel to lay the groundwork for cooperation in Gujarat. Prime Minister Shri Narendra Modi has since accelerated the cooperative journey started by Sardar Vallabhbhai Patel. What began as a cooperative movement in Gujarat has now transformed into a nationwide initiative. Consequently, he expressed confidence that the contributions of the country’s citizens in the realm of cooperation will significantly increase over the next century. Furthermore, the Union Minister paid tribute to Shyamji Krishna Varma on the occasion of his birth anniversary, reflecting on his life events. He characterized Shyamji Krishna Varma as an extraordinary freedom fighter and true patriot who made notable contributions to the freedom movement while residing abroad.
The Union Cooperation Minister emphasized that ADC has truly embodied the mantra of a big bank of a small man. He pointed out that people from humble backgrounds have made significant contributions to the nation’s economic development through cooperative banks. For 70 years, there has been a demand for establishing a separate Ministry of Cooperation to prioritize cooperative activities, and Prime Minister Shri Narendra Modi has met this need by creating a dedicated ministry. Since its establishment, the new ministry has enacted several policy decisions that benefit farmers and animal husbandry farmers, effectively removing many obstacles within the cooperative sector.
The minister further highlighted that ADC Bank, which once operated at a loss, has now transformed into the most profitable cooperative bank in the country. Numerous small and large enterprises, including petrol pumps, fertilizer sales centres, budget food grain shops, and salons, are now being initiated by service cooperative societies. The Central Government has also developed model bylaws for the cooperative sector, which have been accepted by all states. In this digital age, banks and cooperatives have embraced computerization. Approximately 300 Central and State Government schemes have directly benefited the cooperative sector. For the first time, the bank accounts of all cooperative societies in the Panchmahal and Banaskantha districts have been opened at the cooperative bank, setting a precedent for implementation across the country.
Union Minister of Cooperation Shri Amit Shah stated that as ADC Bank celebrates its 100th anniversary, it should initiate services aimed at enhancing the health, nutrition, and education of the citizens of Ahmedabad-Gandhinagar. ADC has solidified its reputation as the 'Tirth Sthan' (Place of Pilgrimage) for all cooperative banks, boasting an NPA rate of less than half a per cent, significantly lower than the RBI's threshold of five per cent. This achievement demonstrates the commitment and transparency of the bank's management toward its depositors and constituents. Shri Amit Shah expressed his aim to further enhance ADC Bank's transparency, cooperation, and public service model, extending his greetings to all officials, including the Chairman and Vice Chairman, during the bank's centenary celebrations.
Addressing the Swarnim Shatabdi Mahotsav of ADC Bank, Chief Minister Shri Bhupendra Patel noted that Prime Minister Shri Narendra Modi has established a separate Ministry of Cooperation for the first time in the country, creating a national platform for the cooperative sector. He highlighted that the leadership of the Ministry of Cooperation has been entrusted to Lok Sabha MP and youth cooperative leader Shri Amit Shah. The Chief Minister praised Shri Amit Shah's visionary leadership during his tenure as Chairman of ADC Bank. The Chief Minister further noted that Shri Amit Shah utilized his unique insight, tact, and administrative skills to bring ADC Bank back on track after it faced significant book losses due to rising NPAs for six consecutive years. He highlighted that ADC Bank, which had been operating at a loss for years, began generating profits from the very first year of Shri Amit Shah's leadership. At a time when Madhupura Bank was struggling, the Chief Minister emphasized that Shri Amit Shah took special care to ensure that public trust in the cooperative sector remained intact.
In discussing the initiatives led by Shri Amit Shah in the cooperative sector, the Chief Minister pointed out that several exemplary measures, such as interest subsidies and safe investment of bank funds, have been implemented under Shri Amit Shah's guidance to facilitate low-interest credit for farmers through cooperative banks. He also remarked that by transforming the challenges faced by cooperative banks into opportunities, Shri Amit Shah has provided a new direction for the cooperative structure of the country. The Chief Minister remarked that the entire cooperative sector has made significant strides toward sustainable development and growth under the guidance of Shri Amit Shah. He emphasized that the visionary planning of Prime Minister Shri Narendra Modi and Shri Amit Shah has charted the course for 'Sahkar Se Samriddhi,' with Gujarat at the forefront. The Chief Minister further noted that cooperation among cooperative banks has strengthened through the movement of 'Cooperation Among Co-operatives.'
During the 100th anniversary celebration of ADC Bank, the Minister of Cooperation, Shri Jagdish Vishwakarma, congratulated all the bank leaders, highlighting that Shri Amit Shah is advancing the slogans of 'Sahkar Se Samriddhi' and 'Atmanirbhar Bharat' set forth by Prime Minister Shri Narendra Modi. Since its establishment in 1925, ADC Bank has grown from a single tree into a banyan tree with 208 branches. It has embraced a modern approach, transparent administration, and a strong commitment to result-oriented banking. Shri Jagdish Vishwakarma remarked that ADC Bank has fulfilled all the criteria to be regarded as an ideal bank and has emerged as a leader among District Cooperative Banks in the State. Today, ADC Bank has flourished into a significant banyan tree, owing to the relentless efforts and vision of Shri Amit Shah. His business acumen has greatly improved the bank's administration. So far, over 21.44 lakh new accounts have been opened, with deposits amounting to approximately Rs 6,188 crore.
In his welcome address, ADC Bank Chairman Shri Ajay Patel noted that under the strong leadership of the Union Minister of Cooperation Shri Amit Shah, the cooperative sector is taking numerous new developmental steps. Since assuming charge of the Cooperative Department, he has implemented 54 reforms. The 'Cooperation over Cooperatives' initiative has been rolled out in Gujarat, providing benefits to citizens in the interior areas of the state. This initiative aims to create a new dimension in the cooperative sector. To celebrate the centenary, the bank has organized a special 180-day service initiative, running until March 31, 2025, which will include activities such as medical camps, blood donation drives, and educational services in nearby villages. Additionally, a vote of thanks was given by Shri Jagdish Patel, Vice Chairman of ADC.
Along with walkers, wheelchairs, and tricycles, members of the 575 Seva Saharkar Mandals affiliated with ADC received symbolic musical instruments for 673 Bhajan Mandals from Union Minister of Cooperation Shri Amit Shah in the presence of dignitaries. During the event, a documentary film highlighting the development journey of ADC Bank was released to celebrate 100 years of trust and success. In attendance were Minister of State for Social Justice Shri Bhikhusinhji Parmar, Deputy Speaker of the Gujarat Legislative Assembly and Chairman of NAFED Shri Jethabhai Bharwad, Chairman of IFFCO Shri Dilip Sanghani, Rajya Sabha MP Shri Mayank Nayak, former Deputy Chief Minister Shri Nitin Patel, former Minister Shri Bhupendrasinh Chudasama, and Central Cooperation Secretary Shri Ashish Butani, Numerous directors of various cooperative banks, leaders from the cooperative sector, bank employees, and members.
