Author: SahkarNet

The Orissa High Court recently ruled that service matters of cooperative banks are outside its jurisdiction, as the state does not exert functional control over these institutions. The court’s decision came while dismissing a petition challenging an appointment made by the Cuttack Central Cooperative Bank (CCCB). The single-judge bench of justice S.K. Panigrahi observed that any ‘other authority’ must perform ‘public duty’ to fall within the high court’s jurisdiction and the dispute between parties shall persist regarding the non-performing of such duty or function. Justice Panigrahi added that the state may promote such entities (cooperative banks) as part of its…

Union Home and Cooperation Minister Amit Shah was the Chief Guest at the Sugar Conclave ad National Efficiency Award ceremony organized by NFCSF. While welcoming the chief guest, Harshvardhan Patil, President of NFCSF hailed Prime Minister Modi’s historic decision to establish a separate Ministry of Cooperation. He also profusely praised Shah for his dynamic leadership and unwavering support to the cooperative sugar industry. In his welcome address, Patil praised the Government for increase in FRP which would help more than 5 crore sugarcane farmers and their families. However, he said that a higher FRP coupled with a static MSP is…

In a recent podcast, Smt. Alka Upadhyaya, Secretary of the Department of Animal Husbandry and Dairying, shared valuable insights into India’s livestock sector and its profound socio-economic impact. With 10 crore households engaged in this sector, India is a global leader in milk production, primarily driven by women. The dairy industry currently generates ₹12 lakh crores and is projected to reach 300 million metric tonnes by 2030. Ms. Upadhyaya emphasized India’s potential to become the “Dairy to the World,” being the largest milk-producing nation. She also discussed the importance of the global ‘One Health’ concept, highlighting livestock health as critical…

Union Home and Cooperation Minister Amit Shah presented the National Efficiency Awards on Saturday to cooperative sugar mills that excelled in various areas of operations These prestigious awards, conferred by the National Federation of Cooperative Sugar Factories (NFCSF), recognize 21 mills from high and other recovery zones from across the country for their remarkable performance. Shah attended NFCSF’s sugar conclave and National Efficiency Awards ceremony for the year 2022-23 as Chief Guest and personally felicitated the top three awardee mills. These mills are Shree Chhatrapati Shahu Sahakari Sakhar Karkhana, Maharashtra, Subramaniya Siva Cooperative Sugar Mills, Tamil Nadu and Bhimashankar Sahakari Sakhar…

Union Home and Cooperation Minister Shri Amit Shah will present the “Efficiency Awards” instituted by the National Federation of Cooperative Sugar Factories (NFCSF) on August 10 at New Delhi. These prestigious awards are presented every year to the best performing cooperative sugar mills. These announcements were made by NFCSF President Harshvardhan Patil in New Delhi. Prakash Naiknavare, Managing Director of the Federation was also present during the interaction. The awards ceremony will take place at 3 PM at the Dr. Ambedkar International Centre, Janpath, New Delhi which will be attended by Chairmen, Vice-Chairmen, Farmer Directors and Managing Directors of cooperative…

Cooperation Minister Amit Shah praised the Union Budget on Tuesday for its support of fishery cooperatives, highlighting that these cooperatives will benefit from new financing facilities through NABARD for shrimp cultivation, processing, and export. In her speech, FM announced that Financial support for setting up a network of Nucleus Breeding Centres for Shrimp Broodstocks will be provided. Smt. Sitharaman said Financing for shrimp farming, processing and export will be facilitated through NABARD. In a social media post, Shah also commended the Budget’s announcement of a ‘National Cooperative Policy,’ which he believes will empower the cooperative movement and enhance its grassroots…

In a bid to enhance productivity and address climate change challenges, the Union Budget has unveiled a series of initiatives, including a review of the current agricultural research setup, the release of climate-resilient crop varieties, the establishment of large-scale vegetable clusters, and improvements in the production, storage, and marketing of pulses and oilseeds. Introduction of digital public infrastructure to the agricultural sector, supported by a substantial ₹1.52 lakh crore investment for overall development and productivity enhancement, holds significant potential for uplifting a sector that provides livelihood to over 40% of the country’s population. Some of the highlights are: Digital Public…

The Reserve Bank of India (RBI) has cancelled the license of Uravakonda Cooperative Town Bank Ltd, based in Andhra Pradesh, citing adequate capital and earning prospects. Consequently, the RBI has directed the bank to cease all banking operations with effect from the close of business on July 20, 2024. The Commissioner for Cooperation and Registrar of Cooperative Societies, Andhra Pradesh, has been asked to issue an order to initiate the winding-up process of the bank and appoint a liquidator for its affairs. According to RBI, Uravakonda Cooperative Town Bank lacks adequate capital and viable earning prospects, failing to meet the…

VAMNICOM conducted the convocation of its postgraduate diploma in management agribusiness management programme for 2022-24 on Saturday. Murlidhar Mohol, Minister of State (Cooperation), Government of India was the Chief Guest. On the occasion, he presented degree certificates to all 93 passing out students & awarded a medal to the topper. He also inaugurated the 32nd batch of PGD Agricultural Business Management 2024-26 and digitally launched the Executive Edge Sessions Series. He said that the cooperative sector of the nation is set to witness a massive transformation through the New Cooperative Policy under the visionary leadership of Prime Minister Narendra Modi…

The Reserve Bank of India (RBI) has released revised master directions on Fraud Risk Management applicable to Urban Cooperative Banks (UCBs), State Cooperative Banks (StCBs), and Central Cooperative Banks (CCBs). The updated directions, named “Reserve Bank of India (Fraud Risk Management in UCBs / StCBs / CCBs) Directions, 2024,” supersede the previous guidelines. They mandate Cooperative Banks to establish and implement robust policies and systems to handle potential fraud risks efficiently. Key Highlights of the master directions: Governance Structure: Cooperative banks are required to establish a Board-approved policy on fraud risk management that should clearly outline the roles and responsibilities…