Under the new initiative of “Cooperation Amongst Cooperatives”, Govt. of India has taken Banaskantha and Panchmahal districts as a pilot project
FinTech BizNews Service
Mumbai, June 30, 2024: Union Home Minister and Minister of Cooperation Shri Amit Shah today addressed the 76th Annual General Meeting of Kheda District Central Cooperative (KDCC) Bank Limited, Nadiad, Gujarat through video conferencing and inaugurated the new building of the bank (Sardar Patel Sahkar Bhavan) constructed at a cost of Rs18 crore 70 lakh. Many dignitaries including the Minister of Cooperation of Gujarat and the Chairman of National Agricultural Cooperative Marketing Federation of India (NAFED) were present on this occasion.
Addressing the program, the Union Home and Cooperative Minister said that Kheda is the same district from where Amul was started under the successful guidance of the country's first Home Minister Sardar Vallabhbhai Patel. He said that Amul set an example of achieving "Sahkar se Samriddhi” (Prosperity through Cooperation) in front of the entire country and the world. Shri Shah said that till some time ago there were talks of closure of Kheda District Cooperative Bank, but today this bank has constructed its own building of 36,000 square feet and has realized the dreams of implementing all rules of e-banking.
Shri Amit Shah said that under the leadership of Prime Minister Shri Narendra Modi, the people of the country have got the formula of “Sahkar se Samriddhi aur Samriddhi se Sampoornata". He said that under this vision, Prime Minister Shri Narendra Modi established the Ministry of Cooperation at the Centre for the first time after 75 years of independence. Shri Shah said that this initiative will play an important role in giving the cooperative sector an added life of at least 100 years in the coming times.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that Sardar Patel Sahkar Bhavan is a modern, four-storey, centrally air-conditioned building which will prove to be very useful for the farmers and residents of Kheda district. Speaking at the 76th Annual General Meeting of the bank, Shri Shah said that Kheda District Central Cooperative Bank has introduced loan management, document management system and tablet banking for the first time in the cooperative banking system of Gujarat, which is a landmark achievement.
Shri Amit Shah said that since its inauguration in 1950, Kheda District Cooperative Bank has served the farmers of the region well and today it is in a 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 has now a reserve fund of Rs 258 crore and deposits of Rs 2500 crore.
The Union Minister of Cooperation said that Centre is running pilot projects under the new initiative “Cooperation Amongst Cooperatives” in Banaskantha and Panchmahal districts. Shri Amit Shah appealed to the people associated with cooperative institutions to open their bank accounts in the District Cooperative Banks, so that a strong economic structure can be built in the cooperative sector. He said that if the mantra of “Cooperation Amongst Cooperatives” is successful, then India does not need to take help from anyone in the cooperative sector. There is no need to take even a single rupee from the Central or the State Government. Shri Shah said that the entire cooperative movement can run strongly only with the money of cooperative institutions.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that the District Cooperative Banks should also contribute towards strengthening the Primary Agricultural Credit Societies (PACS). He said that the Government of India has started strengthening PACSs by taking 20 different initiatives and the District Cooperative Banks should also come forward in this work. He said that stronger PACS will further strengthen the cooperative banks.
