Like the cooperators of other sectors, the fraternity of urban cooperative banks has also welcomed the move of creating a separate ministry for cooperation.
Excerpts
Nafcub, President, Jyotindra Mehta
“Sahakar se Samriddhi” —a dream comes true for the co-operative sector of the Modi Govt creating a new ministry for co-operation. A road map for the development of the country through the way of cooperation was unveiled. Thanks Modiji for a historic decision.
Maharashtra UCB Federation, Chairman, Vidyadhar Anaskar
Great. We welcome the step. Now the subject of co-operation may come in the concurrent list or the ministry will only look after the multi-state co-operative societies. Let’s see.
Previously the ministry of cooperation was attached with the Agricultural Ministry. Now it is separated. The Bill of multi-state Cooperatives has been pending since 2010,in fact it was lapsed unless by the constitutional amendment the said subject would be brought under the central or the concurrent list , only then could the proposed ministry do something for the entire co-op sector and not only for multi-state co-operatives. If it is brought under the central list, then what will happen to the state cooperatives?
Only Multi state falls under the entry 44 of the union list
Satish Marathe, RBI, Central Board Director
Thanks Hon Modiji, Ease of Doing Business Norms to be extended to CoOps! Sahakar_Bharati was the first Organization to demand a separate #ministry for the #CoOp Sector.
We #thank Hon PM @narendramodi ji for conceding our demand and hope it will now empower the CoOps to play a meaningful role in making Bharat.
Kaijs Bank, Vice-Chairman, Chandrakant Chougule
Dedicated people are cooperators and not corporators.
As per my experience and opinion economic, educational and social development of the common people can be made only by cooperators and not corporators.
I am glad of the decision made by the central govt. Though late, the PMO did wake up to understand the importance of the cooperative movement.
Nagaland State Cooperative Bank, Vice Chairman, Kekhwengulo Lea
So glad that the central government under the visionary leadership of Shri Narendra Modi had created a new ministry of cooperation. On behalf of cooperators from the state of Nagaland I express our profound gratitude to the leaders of cooperators who had put their efforts to make the dream of cooperators into reality, we also like to put on record our appreciation and gratitude to the hon’ble Prime Minister of India Shri Narendra Modi for taking the landmark decision in creating a new cooperation ministry which will definitely bring cheer to lakhs of cooperatives and cooperators across the country.
Tumkur Merchant Credit Cooperative Society, President, Jayakumar
Awesome it’s a good move
SUCO Bank, Chairman, Mohit Maski
It is a very welcoming move, regulating Multi State co-operatives and building confidence about Cooperatives among the public, it is the need of the hour.
Jalgaon Janata Sahakari Bank, former CEO, Vidyadhar B Dandawate
Last year the Central Government amended the Banking Regulation Act (AACS) 1949 and brought all UCBs under direct control of RBI . With the change, now UCBs are on par with scheduled commercial banks. There was always a fear of losing the cooperative character of UCBs.
Considering the peculiar character of UCBs, they need special treatment by regulators. Against the background of the Central Government’s move to create a separate ‘Ministry of Cooperation’, one can feel assured that there will be separate mechanisms which can help the center resolve our problems at the centre and thus give justice to the sector.
Varachha Cooperative Bank, former Chairman and Director, K R Bhalala
It’s a very good step for the cooperative movement. It was necessary for cooperative banks & their development since long time. The cooperative movement will become stronger. There are many problems and hurdles in the way of UCB that will stand taken care of.
Specially thanks are due to Sahkar Bharati & the government.
Sharangowda Patil, CEO, Karnataka State Souharda Federal Cooperative
Hearty congrats to the Central Government for the creation of a Separate Ministry of cooperation in the central government.
Kangra Cooperative Bank, Former CEO, Jagmohan Taneja
Wonderful idea of the Govt. Cooperative structure will further become stronger hopefully under the supervision of the new minister and the new ministry and it will provide further impetus to this sector recognizing inherent strength of the cooperative sector. Hopefully, now the Cooperative sector will be used fairly under the close supervision of the ministry.
Industrial Cooperative Bank, CEO, Subhra jyoti Bharali
It is great news for the cooperative institutions of the country. Hope the Ministry will address the majority of issues evolved in and around cooperatives due to their characteristics different from other sets of institutions. Now the constitutional amendment for cooperation will be meaningful.
Chalasani Raghvendra Rao, Chairman, Visakhapatnam Cooperative Bank
Formation of a separate ministry for Cooperation is a welcome move. It is hoped that keeping in view the letter and spirit of the 97th Amendment to the Constitution the Government of India will restore the Cooperative character of Cooperative banks and other cooperative institutions. We further hope the New Ministry will rectify all the wrongs done to the cooperative sector and restore the section 56 of BR act to protect the cooperative character of the cooperative urban banks.
Zoroastrian Cooperative Bank, CEO, Daljit Dogra
Excellent move. Strong compliance and special focus on the Cooperative Movement will give a boost to the Cooperative Sector.
Thane Janata Sahakari Bank, CEO, Shekhar Desai
Fulfillment of budget announcements by FM. The best move for development and strengthening of the Co Operative sector.