On Friday, the National Federation of State Cooperative Banks (NAFSCOB) and the Ministry of Cooperation will launch the one-day National Conference of Rural Cooperative Banks.
Union Home Minister Amit Shah will serve as the keynote speaker. According to a press release, Amit Shah will honor a few short-term cooperative lending institutions for their 100 years of service and award Performance Awards to a chosen group of State Cooperative Banks, District Central Cooperative Banks (DCCBs), and PACS.
The government has been trying to improve agriculture and rural regions; as a result, it has increased its investment in agricultural infrastructure, which has a positive impact on cooperatives’ potential and function.
In India, there are 34 State Cooperative Banks, 351 District Central Cooperative Banks, and 96,575 PACS that make up the short-term cooperative credit framework.
The establishment of a short-term cooperative credit framework and the smooth functioning of the state and cooperative central banks were two major goals of the National Federation of State Cooperative Banks, founded on May 19, 1964.
For its members, their affiliates, shareholders, and owners, NAFSCOB offers a shared venue where they may present their accomplishments, concentrate their worries, and advance their interests.
In addition to Secretary of the Ministry of Cooperation Gyanesh Kumar, NAFSCOB Chairman Konduru Ravinder Rao, and NAFSCOB Managing Director Bhima Subrahmanyam being present, notable speakers for the conference’s closing session include Union Minister of State for Cooperation BL Verma.