With hopes of higher sugar production in this marketing year from the earlier estimates,

the government on Monday said a proposal will soon be placed before a high-level ministerial panel to allow some quantities of sugar exports.

“We stick to our initial production estimate of 24.7 million tonnes in 2011-12 marketing year (October-September). But output can go up a little to 25 million tonnes,” Food

Minister K V Thomas told reporters after meeting Agriculture  Minister Sharad Pawar to discuss issues related to sugar sector.

India’s sugar production stood at 24.3 million tonnes in the 2010-11 marketing year. For the current year, there has been some differences over production estimates between food

and agriculture ministries and also with industry bodies.

While, industry has pegged sugar production at 26 million tonnes, Pawar had said it would be 25 million tonnes. Thomas had estimated it at 24.7 million tonnes based on the reports from the major sugar-producing states.

Asked about exports for this marketing year, Thomas said: “On the basis of production, we will soon work out a scheme so that some quantity can be exported”.

He, however, made it clear that like last marketing year, the sugar exports would be allowed in tranches.

“The Food Ministry will prepare the modalities for exports in the current marketing year and will take up the proposal in the next meeting of empowered group of ministers

(eGoM),” Thomas said.

Both Pawar and Thomas had recently said that the decision on exports would be taken in the first week of November.

In the last marketing year, government had allowed exports of 2.6 million tonnes of sugar, out of which 1.5 million tonnes was under Open General Licence (OGL) in three

equal tranches.

Indian Sugar Mills Association (ISMA) is demanding exports of 4 million tonnes this year, out of which it wants 2 million tonnes in one tranche and at the earliest.

On stock-holding limits for the sweetener, the minister said, “We will lift the stock-holding limit on sugar and rice”. In the last eGOM, the stock-holding limit on these two

items was extended for two months till November.

Courtsey:PTI

The government should allow 2.5 million tonnes of sugar export from Maharashtra in the current marketing year to help millers pay good prices to farmers, Science and Technology Minister Vilasrao Deshmukh said on Monday.

“We have demanded allowing export of 2.5 million tones of sugar this season (from Maharashtra) as our output is expected to be higher this year,” he told reporters after

meeting Food Minister K V Thomas.

Deshmukh, former Chief Minister of Maharashtra, noted that allowing exports would improve cash flow of mills and help them pay better prices to growers.

Sugar production in Maharashtra, the country’s largest producing state, stood at 9.1 million tonnes (MT) in 2010-11 marketing year (October-September) and is expected to be higher in the current marketing year, he added.

Deshmukh pointed out that cane crushing in the state has been delayed as farmers are demanding higher prices up to Rs 330 per quintal.

The crushing, which was expected to start from this month itself, also got delayed because of labour shortage, he added.

“There is ample sugar in the country. The new crushing season will add to the existing stock,” he said.

India, the world’s second largest sugar producer, had produced 24.3 MT in the last marketing year. The annual demand stood at 21.5 MT.

In the current year, the output is pegged at up to 26 MT and industry is demanding export of 4 MT as against 2.6 MT in the last marketing year.

The United Nations is to officially launch the International Year of Co-operatives at its New York City headquarters on Monday.
Members of states from around the world will hear about the co-operative movement throughout the day to encourage as many countries as possible to support the year.

The events begin with a roundtable discussion involving some of the world’s co-operative leaders, Maria Aranzazu Laskurain, Secretary General of Mondragon; LiChengyu, President of the All China Federation of Supply and Marketing Co-operatives and Piet Moerland, Chairman of Rabobank.

After the roundtable, International Co-operative Alliance President Dame Pauline Green will deliver an address to the United Nations General Assembly, which will be live streamed on this website from 3pm (Eastern Standard Time / 7pm UK / Tuesday 6am Sydney). In her speech, she will emphasise the important role that co-operatives play in global sustainable development and financial stability.
Former British Prime Minister Gordon Brown will also pledge his support for co-operatives in an address to the Assembly. Mr Brown, a supporter of credit unions and the co-operative model, was also the first serving Prime Minister to be a member of the Co-operative Party in the British Parliament.

Dr. Asha-Rose Migiro will speak on behalf on the UN’s Secretary-General, alongside Nassir Abdulaziz Al-Nasser, President of the General Assembly.

More than 150 CEOs and Presidents of some of the world’s largest co-operatives will gather  for the launch and to consider how to create the conditions that ignite the growth of co-operative enterprise throughout the decade.
Throughout the morning the roundtable discussions will consider how ‘Co-operative Enterprises Build a Better World’, which is the theme of the International Year. The round-table will discuss the impact of co-operatives in development with specific focus on food security, financial and economic stability, and environmental sustainability, while highlighting the uniqueness and resilience of the co-operative enterprise model as driving their strong role in these areas.

It will also touch on their role in peacebuilding and creating bridges of communication in areas of conflict and discuss the roles of stakeholders in developing the internal capacity and policy space for strengthening co-operatives.
Dame Pauline said: “What’s ironic about co-operatives is that they are everywhere. They are part of everyone’s daily life, but until you stop and look at their scope and effectiveness you don’t realize that this values-based business model is what people have been yearning for and what governments need in order to support and solve many of these international crises that we face today.

“In these economic hard times when financial institutions are failing, credit unions and banking co-operatives have been able to weather the storms. For the world’s economies and the public that invests their money, this is of critical importance.”

The day will also see the launch of the latest Global 300 report,  prepared by the ICA, which will show the world’s largest 300 co-operatives generate revenues of USD 1.6 trillion —equal to the GDP of the world’s ninth largest economy.

On the following day, leaders of some of the world’s largest co-operatives will meet at the ICA Leadership Forum in New York to identify the conditions needed to incite dramatic growth and make co-operativeenterprise the fastest-growing business model by the end of the decade. Hosted by Dame Pauline, delegates will receive keynote presentations from Peter Marks, CEO of the Co-operative Group, UK  and Monique Leroux, President and CEO of Desjardins Group, Canada.

In conversation with Co-operatives UK, Dame Pauline also shared her excitement about the event. In a video, she said: “I’m hugely excited, that place that has seen so many great speakers, so many hugely important events. Crucial issues being solved. To be standing there in that room that has such significance after the last war and to be able to speak in that place is something that is massively emotional and a powerful thing to do. Thank you to the co-op movement for giving me the chance.

“The significance of going to the General Assembly and speaking at the podium is tremendous. It’s a great personal privilege for me, but I’m very conscious that I’m representing the worldwide movement. Putting forward the case for co-operation. It’s a huge opportunity.”

Washington, DC  — NCB, a leading financial services company dedicated to serving cooperatives has announced  Bank President and CEO, Charles E. Snyder as  2012 Cooperative Hall of Fame inductees. Mr. Snyder, and three other honorees, will be recognized with this distinction for their dedication to fostering cooperative enterprises nationwide. The highest honor to be bestowed in the cooperative sector, Mr. Snyder will join a select group of individuals who have made substantial contributions to this community.

The Cooperative Hall of Fame is administered by the Cooperative Development Foundation (CDF), the  non-profit affiliate of the National Cooperative Business Association (NCBA). Nominations are received annually from throughout the cooperative community, with the final selection made by the NCBA Board of Directors on the recommendations of a selection committee of national cooperative leaders.

“I’m extremely honored and humbled to be inducted into the Cooperative Hall of Fame,” said Mr. Snyder. “To be in the company of these individuals who shape and foster the expansion of cooperative communities nationwide, is exciting. I hope to continue to do my part to find innovative ways to support the cooperative sector in the years to come.”

Since joining NCB in 1983, Mr. Snyder has played a transformational role in navigating the Bank through its early years, and throughout its evolution into the complex and successful financial institution it is today. Mr. Snyder helped the Bank maintain its commitment to socially-responsible banking, and has been instrumental in other leadership roles for the cooperative sector.

Most notably he has aided in the growth of the purchasing/shared services co-op sector, the establishment of the dot.coop domain name, and the development of successful marketing pieces, like the NCB Co-op 100, that give cooperatives valuable exposure to new audiences.

For almost 20 years and through numerous economic cycles, Mr. Snyder has led the Bank and its affiliates through challenging times while at the same time strengthening existing cooperatives and nourishing new market development. He is responsible for NCB’s commitment to Mission Banking, which in 2010 alone accounted for $347 million in direct lending, investments and facilitation of creative transactions to support low- to moderate-income communities.

As a strong and vocal advocate for cooperative values and principles, Mr. Snyder has consistently looked for opportunities to advance cooperatives in all sectors and has risen to their defense when cooperatives and their business model have been threatened.

Source: Press Release NCB

The Reserve Bank has imposed a penalty of Rs 5 lakh each on two cooperative banks  – the Pravara Sahakari Bank and the Baroda Traders Co-operative Bank — for violation of various norms.

“RBI has imposed a monetary penalty of Rs 5 lakh on Pravara Sahakari Bank Ltd, Ahmednagar, Maharashtra… for violation of directives/guidelines of the RBI on maximum limit on advances as modified from time to time, by sanctioning

loans to trusts managing different colleges in excess of the single borrower norm,” the apex bank said in a statement.

The Baroda Traders Co-operative Bank has been penalized for non-adherence to Know Your Customers (KYC)norms, it said in another statement.

RBI had issued separate show cause notices to these banks in response to which they had submitted written replies.

The central bank, after studying their replies, came to the conclusion that the violations were substantiated and warranted imposition of the penalty, the statements said.

Nafscob, the apex body of state cooperative banks is on collision course with the government on the issue of income tax exemption. When resolutions and delegations have failed to bear any fruit, we decided to call strike  on 8^th of December on all India level, said MD of Nafscob  Mr B Subrahmanyam to Indiancooperative.com.

Subrahmanyam further said  that we have also requested urban cooperative banks numbering about 1700 to participate in the strike in our support.

Nafscob has asked all member State Cooperative Banks and all District Central Cooperative Banks to close operation for a day on 8^th December for demanding restoration of tax exemptions

Income tax exemption was in vogue till 2006-07. However, with the amendment to Finance Act, 2006 this provision was done away with.

As a result of the said amendment, the income earned by the SCBs and DCCBs has become taxable with effect from the financial year 2006-07. NAFSCOB including the entire Cooperative Banking Structure has been unsuccessful in persuading Government of India  to revisit the said provision of the Act.

The Board of Directors of Nafscob in their meeting held at Bangalore on October 15, 2011 once again reviewed the efforts of Nafscoband the entire Cooperative Banking Structure in this regard and resolved not to carry out their banking business by resorting to one day Strike on December 08, 2011 as a protest  towards non-acceptance of the demand to restore the tax exemption.

Nafscob has also planned to send appeals from November on wards on continuous basis till the Union Budget is presented for the exemption to Union Government.

Jharkhand cooperatives have a big role to play as the state has decided to take their help along with other agencies for procuring paddy.

After two years, crop is bumper and an atmosphere of optimism is widespread. Arjun Munda government has announced Rs 1100 per quintal of paddy as support price for farmers.

Several kiosks are going to be opened where farmers can sell their paddy directly.This will save them from middle man

“This will help the farmers find market and profit from it. The government will also use the grains in distribution of various welfare projects,” Chief Minister Arjun Munda told reporters in Ranchi. Women self-help-groups will be give preference in the network, Munda added.

Kiran Kumar, Chief Minister of Hyderabad named Sree Nidhi Credit Cooperative society as one of agents which would help Andhra Pradesh achieve a target of 10 per cent growth.

He was speaking at National Development Council meet in N Delhi

Sree Nidhi Credit Cooperative is women-owned, women-operated micro finance

System and is making huge change in the lives of people in many areas of Andhra Pradesh.

The corresponding sectoral growth targets would be 6 per cent for agriculture, 10.5 per cent for industry and 11.5 per cent for services, Reddy said.

Earlier, Reddy, Chief Minister of Andhra  has pitched for  increase in the interest subvention to cooperative societies in the state from 1.5 per cent to 2 per cent.

A strange case of cheating by Beed District Central Cooperative bank has come to fore in which the CEO and his predecessor have been arrested.

People used to deposit their electricity bills to the BDCCB which would later deposit the amount to a nationalized bank in the account of Maharashtra State Electricity Distribution Company.

For the past two months this cooperative bank did not deposit the money in the nationalized bank despite having received the amount from consumers. The CEO B S Deshmukh failed to provide proper answer.A case of more than Rs five crores has been lodged against him.