Author: SahkarNet

Dr. Ashish Kumar Bhutani, IAS, Secretary, Ministry of Cooperation, lauded the PHDCCI for its efforts in advancing the cooperative movement. He was speaking as chief guest during the National Summit on Innovating Cooperative Models for the 21st Century organized by PHDCCI at New Delhi. The summit showcased 54 new initiatives from the Ministry of Cooperation (MoC). Dr. Bhutani highlighted the ministry’s mission of ” “सहकार से समृद्धि” (Sahkar se Samriddhi or Prosperity through Cooperation), emphasizing its role in uplifting marginalized communities. He pointed to successful cooperative models like Amul and IFFCO as examples of how cooperatives can transform rural economies. He…

NCCF and NRDC have formalized a strategic collaboration by signing a Memorandum of Understanding (MoU) at the NCCF Headquarters. Thee MoU was signed by Smt. Anice Joseph Chandra, IRS, Managing Director of NCCF, New Delhi and Cmde Amit Rastogi (Retd.), CMD of NRDC, New Delhi at the NCCF Headquarter at New Delhi. The MoU aims to enhance the export value chain, introduce digital farming solutions, boost seed production, streamline procurement arrangements, implement cutting-edge technology interventions, and promote crop diversification. The two organizations are paving the way together for a sustainable and prosperous future in agriculture! NRDC earlier signed a memorandum…

After a stellar performance in the Financial Year 2023-24, Cosmos Co-operative Bank has announced a bonus of one month’s salary for its 2800 employees. The bank reported doing business worth Rs 35,408 crore by March 31, marking a 15.16% increase from 2023. Deposits grew by Rs 2,587 crore, reaching Rs 20,216 crore, while advances rose by Rs 2,075 crore, totaling Rs 15,192 crore. Net profit for the year stood at Rs 384 crore, significantly higher than the previous year’s Rs 181 crore. In an interview with the Times of India, Cosmos Bank Chairman Milind Kale highlighted the resilience of the…

The Bihar State cooperative development council held its meeting today to review the progress of various initiates in cooperative sector taken by the Government of India. The meeting was chaired by Shri Brijesh Mehrotra, Chief Secretary, Bihar. Dr. Ashish Kumar Bhutani, Secretary, Ministry of Cooperation and Shri Pankaj Kumar Bansal, Additional Secretary, Ministry of Cooperation and Managing Director, NCDC participated in the meeting. State cooperative development council aims to promote the cooperative sector within the state through effective monitoring of various cooperative related programmes and policies. The cooperative development council ensures that all the Panchayats /Villages in the state are…

IFFCO सहकारिता रत्न सम्मान (IFFCO Sahakarita Ratna Award) वर्ष 2022-23 का प्रतिष्ठित इफको सहकारिता रत्न सम्मान उत्तर प्रदेश के सहकरिता राज्य मंत्री श्री जेपीएस राठौड़ जी (Shri J P S Rathore, Hon’ble Minister of State for Cooperation, Government of Uttar Pradesh) को दिया जायेगा। श्री राठौड़ को यह पुरस्कार प्राथमिक स्तर की सहकारी समितियों के प्रति इनकी अति विशिष्ट सेवाओं और देश विशेषकर उत्तर प्रदेश राज्य में सहकारी आन्दोलन को मजबूत करने की दिशा में किए गए अनुकरणीय प्रयासों के लिए प्रदान किया जा रहा है। यह सम्मान 30 मई, 2024 को इफको की 53वीं वार्षिक आम बैठक के दौरान …

The recently launched National Urban Co-operative Finance and Development Corporation Ltd. (NUCFDC) has moved swiftly to recruit C-Suite professionals including CEO, CFO, CTO and Company Secretary to kick-start its operations at the earliest. The organization has engaged ABC Consultants, leading HR & Recruitment Consultant, to spearhead the recruitment process. NUCFDC is a registered NBFC mandated by Reserve Bank of India to play the role of Umbrella Organisation for India’s Urban Co-operative Banking (UCB) sector. As per ABC Consultants, the company is in a start-up phase and aims to provide a comprehensive range of fund-based and non-fund-based services to member banks,…

Dileep Sanghani, the incumbent Chairman of IFFCO, has been re-elected unopposed for a second consecutive term, while Balvir Singh has retained his position as Vice Chairman following elections held recently. With the current election, Sanghani becomes the 18th Chairman of the Indian Farmers Fertiliser Cooperative Limited. IFFCO conducted its 15th Representative Governing Body (RGB) elections for its Board of Directors, representing members from over 36,000 cooperative societies at IFFCO Sadan, New Delhi. The extensive electoral process began in March and concluded with the election of 21 Directors on May 9, 2024, at IFFCO’s corporate office in New Delhi. Notable winners…

The dairy sector holds immense significance for India across multiple fronts. It serves as a major contributor to the growth of the rural economy, supporting over 80 million rural households, predominantly small and marginal farmers along with landless individuals. Dairy co operatives play a vital role in ensuring food security, livelihoods, and fostering women’s participation. Notably, women constitute the primary workforce within this sector, making it a key contributor to women’s empowerment. Today, India stands as the world’s largest milk producer accounting for 24% of the global milk production. Despite the profitability of dairy farming and proven success of Amul…

Is Amul planning to takeover Sanchi Dairy of Madhya Pradesh? This question gains significance as Sanchi milk brand holds a similar level of familiarity and emotion in Madhya Pradesh as Nandini has in Karnataka. The question has again started doing the rounds after a news report that the BJP led MP Government wants to adopt the Gujarat- based Amul-like model for Sanchi in MP. However, it is said that the decision on whether Amul will support Sanchi in expanding its presence in Madhya Pradesh or opt for a takeover will be made shortly after the Lok Sabha polls. The MP…

The Reserve Bank of India (RBI) has levied penalties totaling Rs. 8 lakh on three cooperative banks in Maharashtra due to their failure to comply with regulatory directives. The Lokmangal Cooperative Bank Ltd faced the heaviest penalty, amounting to Rs5 lakh. The other two banks penalized by the RBI are Satara Sahakari Bank Ltd and Udgir Urban Cooperative Bank Ltd. Lokmangal Cooperative Bank was penalized Rs 5 lakh for failing to adhere to the guidelines concerning know your customers (KYC). During a statutory inspection, the RBI discovered that the bank had neglected to conduct periodic reviews of account risk categorizations…