Modi Government is bringing the Cooperative University Bill to empower our youth with cooperative education.
Union Minister Amit Shah, chaired the 27th meeting of the Western Zonal Council in Pune on Saturday, attended by CMs of Maharashtra, Gujarat and Goa, Administrator of Dadra and Nagar Haveli and Daman and Diu and Deputy Chief Minister of Maharashtra
FinTech BizNews Service
Mumbai, February 22, 2025: The National Urban Co-operative Finance and Development Corporation (NUCFDC) was under consideration for a long time. "Now the work has been completed to mobilize an amount of Rs. 300 crore for this organization. NUCFDC will be able to provide all kinds of support to the cooperative banks. For the first time, a clearing house for Cooperative Banks has been envisaged in the country which is set to be completed in the next 2 years, said Union Home Minister and Minister of Cooperation Shri Amit Shah today. He was addressing the valedictory function of Diamond Jubilee celebrations of Janata Sahakari Bank Limited in Pune Maharashtra today. Union Minister of State for Cooperation, Shri Murlidhar Mohol and several other dignitaries including the Chief Minister of Maharashtra, Shri Devendra Fadnavis, Deputy Chief Ministers of the state, Shri Eknath Shinde and Shri Ajit Pawar were present, on the occasion.
Union Home Minister and Minister of Cooperation said that the newer technologies by the cooperatives is imperative for continued growth. After the formation of an umbrella organization, clearing for any cooperative bank located anywhere in the country will be done through cooperative banks themselves. To address the growing competition from nationalized banks, small financing banks, and NBFCs, the Government is setting up a monitoring committee to strengthen governance and incorporate technological innovations in Cooperative Banks.
He further added thatunder the leadership of Prime Minister Modi, the Ministry of Cooperation has taken several steps to enhance the business of urban cooperative banks. He mentioned that Aadhaar-enabled payment system has been opened for cooperative banks, the limits for gold loans and housing loans have been enhanced, and a provisionfor one-time loan settlement has been introducedfor cooperative banks. The Modi government has given specialimpetus to the cooperative movement in the last 3 years. He said that India's model of cooperatives has been made marketable, and the Modi Government is bringing the Cooperative University Bill to empower our youth with cooperative education. He also stated that the government wants to integrate cooperative innovation and make it a driving force for the country's development. He added Prime Minister Modihas played a key role in providing the right direction to cooperative development.
He said that there are a total of 1465 Urban Cooperative Banks in the country out of which 460 are in Maharashtra alone. Amit Shah said that after its establishment in 1949, Janata Sahakari Bank became a scheduled cooperative bank in 1988, adopted core banking in 2005, became a multi-state scheduled cooperative bank in 2012, and also got the honor of starting the country’s first cooperative demat institution. He mentioned that with 71 branches, 2 extension counters, 1,75,000 members, and over 10 lakh satisfied customers, this is not just a bank, but a large family. He stated that today, the bank's deposit exceeds ₹9,600 crore, which reflects the trust people have in the bank. Shri Shah also highlighted that Janata Sahakari Bank has never backed out, be it in terms of social service, during Latur earthquake, or the Kolhapur-Sangli floods, or the COVID-19 pandemic.
Topics of digital infrastructure and cyber crime will also be included in the purview of the Inter State Council
Union Home Minister and Minister of Cooperation, Shri Amit Shah, chaired the 27th meeting of the Western Zonal Council in Pune, Maharashtra today. The meeting was attended by several dignitaries including Chief Ministers of Maharashtra, Gujarat and Goa, Administrator of Dadra and Nagar Haveli and Daman and Diu and Deputy Chief Minister of Maharashtra. The Union Home Secretary, Secretary, Inter State Council Secretariat, Secretary, Ministry of Cooperation, Chief Secretaries of States of Western Region, and other senior officials of State and Union Ministries and Departments also attended the meeting.
The Union Home Minister emphasized that it is now time to ensure that citizens receive 100% of the constitutional rights granted to them. He further stated that in the coming days, issues related to digital infrastructure and cybercrime will also be brought under the purview of the Inter State Council. He urged the states to proactively prepare for these developments.
A total of 18 issues were discussed in the 27th meeting of the Western Zonal Council. In the meeting, some important issues related to the member states and the country as a whole was discussed in detail. These include land transfer, mining, speedy investigation of rape cases against women and children, implementation of Fast Track Special Courts (FTSC) scheme for speedy disposal of rape and POCSO Act cases, implementation of Emergency Response Support System (ERSS-112), bank branches/postal banking facility in every village, issues related to railway project and food security norms etc.
Apart from these, 6 issues of national importance were also discussed, which include - urban master plan and affordable housing, electricity operation/supply, eliminating malnutrition in children through Poshan Abhiyan, reducing drop-out rate of school children, participation of government hospitals in Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana, strengthening Primary Agricultural Credit Societies (PACS). Best practices adopted by Member States/UTs were also shared in the meeting.
