Author: SahkarNet

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…

On June 19, 2024, the Reserve Bank of India (RBI) cancelled the licence of “The City Co-operative Bank Ltd., Mumbai, Maharashtra.” This decision means the bank is no longer authorized to conduct banking business effective from the close of business on 19th June, 2024. In addition, the Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra, has been asked to order the bank’s liquidation and appoint a liquidator. Reasons for cancellation of bank’s license: The RBI revoked the bank’s licence for several reasons including: RBI statement read that following the cancellation, “The City Co-operative Bank Ltd., Mumbai, Maharashtra” is now…

The Madras High Court has ruled that cooperative societies in Tamil Nadu are not required to provide information under the Right to Information (RTI) Act, 2005, as they do not qualify as public authorities. Justice V Bhavani Subbaroyan stated in his order, “A cooperative society registered under the Tamil Nadu Co-operative Societies Act is not bound by the RTI Act to provide information requested by a citizen. The cooperative society does not fall within the definition of public authority as defined under Section 2(h) of the RTI Act.” What happened? This decision nullified an order from the State Information Commissioner…

The Reserve Bank of India (RBI) has revoked the license of Purvanchal Co-operative Bank Ltd., Ghazipur, Uttar Pradesh, effective from the close of business on June 15, 2024. This decision means the bank can no longer conduct banking operations. The RBI cited several reasons for the cancellation: Following the license cancellation, Purvanchal Co-operative Bank Ltd. is prohibited from conducting any banking activities, including accepting and repaying deposits, as defined under Section 5(b) of the Banking Regulation Act, 1949. The Commissioner for Cooperation and Registrar of Cooperative Societies in Uttar Pradesh has been asked to initiate the bank’s liquidation and appoint…

Muralidhar Mohol, the newly appointed Union Minister of State for Cooperation and Aviation, yesterday visited the Vaikunth Mehta Institute of Cooperative Management (VAMNICOM) in Pune after assuming his new role. He paid tribute to Vaikunth Mehta’s rich legacy and contributions in the field of cooperation by garlanding his statue. Dr. Hema Yadav, Director, VAMNICOM made a presentation before the Minister, detailing VAMNICOM’s activities and highlighting the work of its seven centers and various training programs initiated since the formation of the Ministry of Cooperation. She noted the long-standing success of the Post Graduation Diploma in Management – Agri Business Management…