Author: SahkarNet

Prakash Naiknavare, the Managing Director of the National Federation of Cooperative Sugar Factories Ltd. (NFCSF), was honored with a lifetime achievement award at the recently held Sugar Summit 2024 in Lonavala, Maharashtra. The award was presented by the Additional Chief Secretary of the Government of Maharashtra. Naiknavare, a stalwart in the sugar sector with over 23 years of dedicated service, currently leads India’s National Sugar Federation, representing 259 cooperative sugar mills and 9 state sugar federations nationwide. His role involves overseeing member mills, providing technical consultancy both domestically and internationally, and shaping India’s policy on sugarcane, sugar, and related products.…

The Karnataka Milk Federation (KMF), renowned for its Nandini brand of milk and milk products, achieved a significant milestone by procuring one crore litres of milk from its members in a single day. Celebrating its 50th anniversary, KMF faces new marketing challenges amidst its expanding milk procurement. The milestone prourement was reached on June 28, with 1,00,05,000 litres procured across village-level cooperative societies, a feat repeated the following day. Currently, KMF’s cumulative average milk procurement stands at 98 lakh litres. Competitive Market Despite a 14% increase in milk procurement this year, sales of KMF’s milk and milk products grew by…

The Enforcement Directorate (ED) has taken action in connection with a significant money laundering investigation involving Rs 24,000 crore of investors’ funds. In a statement issued on Thursday, the ED disclosed that it conducted searches against a Kolkata-based cooperative society. As per ED press release dt 11th July, 2024, the raids were carried out at Kolkata, Lucknow, and Mumbai which yielded substantial findings. Among the seized items were “incriminating” documents, accounting records, and digital devices belonging to Humara India Credit Cooperative Society Ltd. Notably, cash amounting to ₹ 2.98 crore, identified as “proceeds of crime,” was also confiscated during the…

The National Federation of Co-operative Sugar Factories (NFCSF), the Apex body for the cooperative sugar sector in the country, has announced the winners of its National level Efficiency Awards for cooperative sugar factories for the year 2022-23. NFCSF President Harshvardhan Patil announced the names of 21 cooperative sugar factories, recognizing their outstanding performance. The selection process involved a meticulous evaluation by an Expert Committee led by Chief Director of Sugar and comprised of eminent figures from the sugar industry and state cooperative sugar federations. The Expert Committee evaluated the performance of the cooperative sugar factories on the basis of various…

The eligibility of nominated members to contest elections for office bearers in a multi-state cooperative society (MSCS) has become a significant query in recent times. This question emerged following amendments to the MSCS Act, 2002 last year, which established the Cooperative Election Authority and introduced cooperative election rules. While many societies navigated the new rules seamlessly, the Indian Farm Forestry Development Cooperative Limited (IFFDC) seems to have encountered certain challenges as the election of its Chairperson in the recently held election was rejected by the Cooperative Election Authority. Issue IFFCO nominated three members on the board of IFFDC who did…

On Sunday, Union Home Minister and Minister of Cooperation, Amit Shah, urged People associated with cooperative institutions to open their bank accounts in the District Cooperative Banks. His appeal was aimed at strengthening the economic structure of the cooperative sector in the country. Key Facts: While addressing the the 76th Annual General Meeting of Kheda District Central Cooperative (KDCC) Bank Limited, Nadiad, Gujarat via video conferencing, Shah said “If the mantra of “Cooperation Amongst Cooperatives” is successful, then India does not need to take help from anyone in the cooperative sector”. He also virtually inaugurated the bank’s new building, Sardar…

The Kerala Cooperatives Department recently achieved a significant milestone by shipping 12 tonnes of value-added agricultural products processed by cooperative societies in the state to the United States. The consignment managed through an export agency in Kochi, was ceremoniously flagged off by Cooperation Minister V N Vasavan at the Vallarpadam Container Transshipment Terminal. Underlining the department’s proactive approach, Vasavan highlighted the recent training provided to representatives of 30 cooperative societies in Kumarakom on processing value-added agricultural products. He stated that each cooperative society received Rs 2 crore in association with Nabard. This fund supports the development of essential facilities such…

The government has approved the export of 2,000 tonnes of non-basmati white rice to two African nations, Malawi and Zimbabwe. This decision, announced by the Directorate General of Foreign Trade (DGFT) in a recent notification, allows the export through the National Cooperative Exports Limited (NCEL). Despite a ban on non-basmati white rice exports since July 20, 2023, aimed at boosting domestic supply, the government permits exports to certain countries to address their food security needs upon request. Malawi, a landlocked country in southeastern Africa, and Zimbabwe, located in southern Africa, have each been allocated 1,000 tonnes of this rice. The…

On Wednesday, the UN General Assembly proclaimed 2025 as the International Year of Cooperatives (IYC2025), celebrating under the theme “Cooperatives Build a Better World.” This theme underscores the enduring global impact of cooperatives and emphasizes their vital role in tackling various global challenges. It also highlights how cooperatives significantly contribute to advancing the Sustainable Development Goals (SDGs) by 2030. National Committees to Coordinate and prepare for IYC2025 In its resolution, the UN General Assembly outlines recommendations for celebrating IYC2025 and encourages all UN Member States, the United Nations System, and relevant stakeholders to use this occasion to promote cooperatives’ contributions…

Following the directive from the Madhya Pradesh High Court, cooperative institution elections will be held in the state after an 11-year hiatus. The State Cooperative Election Authority has announced a four-phase voting program, running from June 26 to September 9. Voting dates are set for August 8, 11, 28, and September 4, with vote counting immediately following each phase. Key Facts: Initial Focus on PACS: First of all, elections will be held to elect the representatives to be sent to the Primary Agricultural Credit Cooperative Societies and various institutions. These elected representatives will form the basis for electing the board…