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Don’t consider cooperatives as obsolete rather take a look at the models of Amul, KRIBHCO, IFFCO and Lijjat Papad: Amit Shah

Don’t consider cooperatives as obsolete rather take a look at the models of Amul, KRIBHCO, IFFCO and Lijjat Papad: Amit Shah

The Union Home Minister and Minister of Cooperation Amit Shah addressed the National Convention of Scheduled and Multi-State Urban Co-operative Banks and Credit Societies in New Delhi on Thursday. It was organized by the Ministry of Cooperation and National Federation Of Urban Cooperative Banks And Credit Societies Limited (NAFCUB). 

Amit Shah said, “some people look at cooperatives from a different point of view and consider them obsolete, out of date and irrelevant. But I want to say take a look at the models of Amul, KRIBHCO, IFFCO and Lijjat Papad. Take a look at more than 195 Cooperative banks which are more than a hundred years old and you will know that they are equally relevant today.”

He further said, “a hundred years is a very long period and the cooperatives in the country have completed this journey with great success, but the journey of the next 100 years will have to be completed by contributing to the development of the country with great pride and accomplishment. For the next hundred years, the scope and acceptance of cooperatives has to be increased and on the basis of their actions, those who consider cooperatives to be irrelevant will have to be explained not on the basis of theory but on the basis of their performance and this is the responsibility of all of us.”

The minister said that only Urban State Cooperative Banks can give loans to the smallest section of society and upliftment of that section and making them participants in the process of development and a stakeholder in the country’s economy can be done only by cooperatives. 

Cooperatives and government to empower the people who have not been financially empowered. There can be no better way to do empowerment than through Urban Cooperative banks and Urban Cooperative credit societies. 

Since the formation of the Ministry of Cooperation, many changes have taken place including issues of taxation and assessment of sugar mills. The Government of India is creating a data bank of the entire cooperative sector, paving the way for the establishment of a cooperative university and the cabinet has also approved purchase through GeM by large cooperative societies.

On this occasion Minister of State for Cooperation B.L. Verma, senior officers of the Ministry of Cooperation, Chairman, NAFCUB, Jyotindra Mehta and many other dignitaries were present.

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