Author: SahkarNet

The Ministry of Cooperation, Govt. of India has massive plans to celebrate the International Year of Cooperatives-2025 to showcase the enduring impact of cooperatives in India. This initiative aligns with the United Nations General Assembly’s declaration of 2025 as the International Year of Cooperatives under the theme “Cooperatives Build a Better World.” Earlier in November, 2024 Prime Minister Narendra Modi launched the International Year of Cooperatives 2025, emphasizing the pivotal role of cooperatives in creating a better world. Strategic Vision for IYC-2025 The Ministry has constituted a national committee, IYC National Cooperative Committee (IYC – NCC), under the chairmanship of Secretary…

The BusinessLine Agri and Commodity Summit 2025, held in New Delhi, spotlighted the pressing issue of climate change and its profound impact on agriculture. The event brought together policymakers, industry leaders, and experts to discuss adaptive and mitigative strategies for creating a resilient agricultural sector. Government’s Dual Strategy: Adaptation and Mitigation Union Agriculture Secretary Devesh Chaturvedi outlined the government’s two-pronged approach to address the challenges posed by climate change. The adaption measures include developing drought and flood resilient crop varieties, implementing efficient water management system and protecting farmers against extreme weather-induced losses through better crop insurance coverage. To mitigate these…

To fulfill Prime Minister Shri Narendra Modi Ji’s vision of “Sahkar se Samriddhi,” a dedicated Ministry of Cooperation was established on July 6, 2021. Under the leadership of India’s first Union Minister of Cooperation, Shri Amit Shah, the Ministry has introduced numerous initiatives and groundbreaking measures to strengthen and revitalize the cooperative sector. Over the past three years, it has implemented 56 major initiatives, fostering economic growth and enabling the expansion of cooperative societies nationwide. The details and progress of these initiatives are as follows: Under the leadership of Prime Minister Shri Narendra Modi Ji and Union Home Minister Shri…

In a significant stride for India’s cooperative sector, Union Home & Cooperation Minister Amit Shah inaugurated 10,000 newly established Multipurpose Primary Agricultural Credit Societies (MPACS) alongside Dairy and Fisheries Cooperative Societies in New Delhi. The landmark event, which coincided with the birth anniversaries of Pandit Madan Mohan Malviya and former Prime Minister Shri Atal Bihari Vajpayee, underscored the government’s commitment to bolstering rural economies and empowering farmers. A Tribute to Visionaries The Minister paid homage to Atal Bihari Vajpayee, crediting his visionary leadership for transformative initiatives, including the establishment of a separate ministry for tribal affairs, the Golden Quadrilateral highways,…

Punjab Chief Minister Bhagwant Singh Mann today inaugurated the expanded crushing capacity plant at the Batala Cooperative Sugar Mill, developed at a cost of ₹300 crore. The upgraded facility now boasts a crushing capacity of 3,500 tonnes of cane per day (TCD), with the potential to expand to 5,000 TCD, alongside a 14-MW co-generation power project. The Chief Minister said that the mill aims to crush 35 lakh quintals of sugarcane during the current season while adhering to eco-friendly practices. He highlighted that this is India’s first sugar mill to implement a 100% gas pipeline with a capacity of 14,000…

The central government is steadfast in its commitment to eliminating fraud in cooperative societies, ensuring that no wrongdoer, regardless of political affiliation, escapes accountability. Minister of State for Cooperation Krishan Pal emphasized this stance during a discussion in the Rajya Sabha today. Stringent Action Against Frauds Responding to supplementary questions during the Question Hour, the minister outlined the government’s efforts to curb fraud in multi-state cooperative societies. “Fraudsters, whether affiliated with the ruling party or the opposition, big or small, will not be spared,” he asserted. Highlighting the government’s determination, he stated that multiple measures have been introduced since the…

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…