Author: SahkarNet

The Reserve Bank of India (RBI) has imposed penalties totaling ₹14.10 lakhs on five cooperative banks—four from Maharashtra and one from Madhya Pradesh—for failing to comply with regulatory directives. The largest penalty, amounting to ₹7.50 lakhs, was levied against Vaijapur Merchants Cooperative Bank Ltd. in Maharashtra. Other penalized institutions include Gondia District Central Cooperative Bank Ltd, Prerna Nagari Sahakari Bank Ltd, and Shri Shiveshwar Nagari Sahakari Bank Ltd, all from Maharashtra, along with Madhya Pradesh’s Maa Sharda Mahila Nagrik Sahakari Bank Maryadit. Vaijapur Merchants Cooperative Bank faced penalties for not adhering to specific directions under the supervisory action framework (SAF)…

The International Cooperative Alliance – Asia Pacific ( ICA-AP) Committee on Cooperative Research (CCR) organized the 18th ICA Asia Pacific Research Conference on ‘Cooperatives in the Next Industrial Revolution’ in collaboration with the Indian Institute of Management Kozhikode (IIM-K) and Uralungal Labour Contract Co-operative Society (ULCCS) Ltd. in Kozhikode, Kerala, India from 15-18 October 2024. The various sessions during the conference explored the role of cooperatives in shaping the future of work amidst the ongoing technological advancements and industrial transformations. In an era marked by automation, digitalization and globalization, cooperatives emerge as a resilient and sustainable alternative, fostering democratic workplaces, equitable distribution of wealth, and community…

The Reserve Bank of India (RBI) is set to outline new norms for capital-raising instruments, including the issuance of premium shares for urban cooperative banks (UCBs). This initiative aims to enhance flexibility in resource mobilization and foster growth of the sector. RBI Governor Shaktikanta Das announced that a discussion paper will be released to gather feedback and suggestions from stakeholders on various capital-raising avenues for UCBs. In a statement regarding developmental and regulatory policies, the RBI noted that initial guidelines for the issuance and regulation of share capital and securities for UCBs were introduced in 2022 to ensure alignment with…

Jayen Mehta, Managing Director of AMUL and the Gujarat Co-operative Milk Marketing Federation Limited (GCMMF), recently announced the brand’s upcoming entry into the European market, following the “extremely successful” launch of AMUL’s milk in the United States. This move is set to be a landmark achievement for the iconic Indian dairy brand. Speaking at the 11th Dr. Verghese Kurien Memorial Lecture on the topic “AMUL Model: Transforming Lives of Millions,” organized by XLRI Jamshedpur, Mehta highlighted India’s prominent role in the global dairy industry. “India is now the largest milk producer in the world, and in the coming years, one-third…

Two-day National Review Meeting organized by the Ministry of Cooperation successfully concluded in Bhubaneswar, Odisha today, focusing on empowering cooperatives and enhancing their role in rural areas. The event was inaugurated by Manoj Ahuja, Chief Secretary, Odisha with Dr. Ashish Kumar Bhutani, Secretary of Union Ministry of Cooperation as a distinguished guest. A central agenda of the meeting was the effective implementation of Standard Operating Procedures (SOPs) related to three major initiatives recently launched by Union Home & Cooperation Minister Amit Shah. These initiatives aim to promote the establishment and strengthening of 2 lakh new MPACS as well as cooperatives…

भारतीय बीज सहकारी समिति लिमिटेड (BBSSL) ने IFFCO मुख्यालय में अपनी दूसरी वार्षिक आम बैठक (annual general body meeting, AGM) आयोजित की, जिसमें पांच वर्षों के भीतर ₹15,000 करोड़ का कारोबार करने की महत्वाकांक्षी योजनाओं का अनावरण किया गया। सहकारिता मंत्री अमित शाह के मार्गदर्शन में 2023 में स्थापित, इस समिति का लक्ष्य उच्च गुणवत्ता वाले बीजों और बढ़ी हुई पैदावार के माध्यम से किसानों की आय को बढ़ावा देना है। बीज उत्पादन का विस्तार: 78 बीज उत्पादकों ने 1100 एकड़ में बीज बोए सहकारी समिति को बीज उत्पादन और विपणन कार्यक्रमों को लागू करने के लिए राज्य सरकारों से …

Now that the news of cancellation of FCRA (Foreign Contribution Registration Act) license of International Cooperatives Alliance (ICA) has settled to some extent, it has definitely created an awkward situation for the Indian government, the ICA, and the broader Indian cooperative movement. Usually the Ministry of Home Affairs, Government of India cancels FCRA license for violations related to foreign funding. The ICA is the apex organization representing cooperatives globally, offering expertise, knowledge, and coordinated support in the cooperative sector. Established in 1895, it is one of the oldest non-governmental organizations in the world, with over one billion members. Notably, the ICA’s work is…

Date: 25 – 30 November, 2024 Location: New Delhi, India Organizer: International Cooperative Alliance (ICA) Brief Details: The cooperative movement is invited to participate in the Global Conference of the International Cooperative Alliance (ICA) to be held in New Delhi, India from 25 to 30 November 2024. An important ICA General Assembly will also be held, as well as meetings of ICA’s Sectoral Organisations, Regional Offices and Thematic Committees. More details expected in March 2024. For Further Details, Please Visit: https://www.ica.coop/en/events/ica-global-conference-general-assembly-2024

The Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM) in Pune has been chosen as a Training Partner for the Acharya Chanakya Kaushalya Vikas Kendra (ACKVK) under the Pramod Mahajan Kaushalya Uddyojagta Vikas Abhiyan, part of the Maharashtra State Skill Mission. This initiative aims to enhance the skills of cooperative stakeholders, fostering business diversification and employment generation. Prime Minister Narendra Modi launched the ‘Acharya Chanakya Skill Development’ scheme, with a virtual broadcast from Pune. VAMNICOM participated in the program online, emphasizing its commitment to skill development. For the 2024-25 financial year, the Maharashtra State Skill Development Society (MSSDS) has opened…

In a significant move to transform India’s dairy cooperative landscape, Union Home and Cooperation Minister Amit Shah today launched White Revolution 2.0, a comprehensive initiative designed to empower women farmers and create job opportunities within the sector. The Union Cooperation Minister chaired a National Conference in New Delhi on the initiatives taken by the Ministry of Cooperation in the first 100 days of the third term of Prime Minister Modi led NDA government. Addressing the Conference, Shah said that in the 100 days of the third term of the Prime Minister Modi’s led government, the Ministry of Cooperation has taken…