Author: SahkarNet

In a bid to address the impasse surrounding the distribution of welfare pensions, the Kerala government has opted to borrow a loan of Rs. 2,000 crores from cooperative banks within the state. The funds will be coordinated through a consortium comprising primary cooperative societies and banks, facilitated by a dedicated company established for this purpose. Mannarkad Rural Co operative Bank will act as the fund manager, offering a competitive interest rate of 9.1%. This marks the third occasion in the past eighteen months that the government has turned to cooperative banks to fulfill its financial obligations in pension disbursement. Presently,…

At its peak, the Thrissur-based Karuvannur Cooperative Bank held public deposits amounting to nearly Rs. 290 crore. However, in 2021, it was hit by a scam involving fake loans. Multiple bogus loans were sanctioned against same property without the knowledge of the members of the society. FIRs were registered and the matter is being investigated but the distress of the people who deposited their hard earned money in the bank finds no solution. Here is the latest news about Karuvannur Cooperative Bank. As per reports, the Enforcement Directorate (ED) has submitted a report to both the Election Commission (EC) and…

The Reserve Bank of India (RBI) has announced a series of measures on Monday to address the financial challenges faced by Shirpur Merchants’ Co-operative Bank, headquartered in Maharashtra. Effective immediately, the RBI has placed restrictions on various operations of the bank due to its declining financial health. These measures include halting the granting or renewal of loans and advances, making investments, incurring liabilities, or disposing of assets without prior written approval from the RBI. In light of the bank’s liquidity concerns, the RBI has prohibited the withdrawal of funds from savings, current, or any other accounts held by depositors. However,…

Explores collaborative opportunities in agriculture and cooperative growth. A distinguished delegation comprising representatives from Bhutan and Nepal recently paid a visit to IFFCO Sadan. The delegation included His Excellency Major General Vetsop Namgyel, the Ambassador of Bhutan, along with Mr. Penday Dorji and Mr. Lavania. His Excellency Dr. Shankar Prasad Sharma, the Ambassador of Nepal, was accompanied by Mr. Tara Nath Adhikari, Mr. Badri Prasad Tiwari (Trade Counsellor), and Mr. Ambuj Chaturvedi. The meeting primarily focused on discussions pertaining to agricultural initiatives, cooperative growth, as well as the development and utilization of Nano Urea and Nano DAP technologies. Key figures…

Dr. Meenesh Shah, a distinguished figure in the dairy industry, has been unanimously elected as the Chairman of the National Cooperative Dairy Federation of India (NCDFI) during the recent Board meeting of NCDFI held on April 5, 2024. Prior to this significant development, the General Body meeting of NCDFI convened on April 4, 2024, witnessed the unopposed election of eight directors to the Board. These directors include , Dr Meenesh Shah, Jharkhand Milk Federation; Dr. Mangal Jit Rai, Sikkim Milk Union; Shri Shamalbhai B. Patel, Gujarat Milk Federation ; Shri Randhir Singh, Haryana Milk Federation Shri K. S. Mani, Kerala…

Date: 28 – 30 July, 2024 Location: Details awaited Organizer: ICA- Asia & Pacific in collaboration with its Committee on Women and Vietnam Cooperative Alliance (VCA). Brief Details: ICA-AP in collaboration with its Committee on Women and Vietnam Cooperative Alliance (VCA) will organize the Asia-Pacific Women CEOs in Cooperatives Summit on the theme “Empowering Leadership: Navigating the Future of Cooperatives with Women at the Helm”. For Further Details, Please Visit: https://www.icaap.coop/

भोपाल : मध्य प्रदेश में अनाज खरीद और राशन दुकानों के संचालन में शामिल सभी सहकारी समितियों को घोटालों पर नकेल कसने के लिए आरटीआई (RTI) अधिनियम के तहत लाया गया है। राज्य सूचना आयुक्त (State Information Commissioner) राहुल सिंह ने पारदर्शिता और जवाबदेही सुनिश्चित करने के लिए जिला पोर्टल (District Portal) पर राशन दुकानों के विक्रेताओं के वेतन का खुलासा करना भी अनिवार्य कर दिया है। सिंह ने अपने आदेश में कहा कि किसान अक्सर अनियमितताओं की शिकायत करते हैं, लेकिन सहकारी समितियों के संचालन में पारदर्शिता की कमी समाधान में बाधा बनती है। सूत्रों ने कहा कि इसके…

National Cooperative Consumers’ Federation of India Limited (NCCF) recently signed MoU with distilleries to supply maize across the country. The MoU was signed between NCCF and distilleries in an event organized at New Delhi on 21st March, 2024. The event was presided over by Shri Vishal Singh, Chairman of NCCF, with the presence of Ms. Anice Chandra, Managing Director, and other NCCF officials. Prior to signing the MoU, NCCF officials presented their action plan on uninterrupted supply of maize, its pricing, logistics, transportation expense etc. Distillery and associations’ representatives attended the event and raised various queries which were promptly responded to…

भारतीय रिजर्व बैंक (RBI) ने नियामक दिशानिर्देशों (regulatory guidelines) का पालन करने में विफलता के लिए पांच सहकारी बैंकों (cooperative banks) के खिलाफ कार्रवाई की है। दंडित बैंकों में मंडी अर्बन को-ऑपरेटिव बैंक, राजपलायम को-ऑपरेटिव अर्बन बैंक, एक्सेलेंट को-ऑपरेटिव बैंक, स्टैंडर्ड अर्बन को-ऑपरेटिव बैंक और हावड़ा डिस्ट्रिक्ट सेंट्रल को-ऑपरेटिव बैंक शामिल हैं। मंडी शहरी सहकारी बैंक (Mandi Urban Co-operative Bank) पर ‘प्राथमिक (शहरी) सहकारी बैंकों (यूसीबी) द्वारा अन्य बैंकों में जमा राशि रखने’ से संबंधित आरबीआई के निर्देशों के विशिष्ट प्रावधानों का अनुपालन न करने के कारण ₹6 लाख का जुर्माना लगाया गया है। यह जुर्माना 31 मार्च, 2022 तक…

Hardly after a month when Prime Minister Modi exhorted Amul to emerge as world’s largest dairy while addressing a gathering at golden jubilee celebrations of GCMMF in Ahmadabad, Amul in a ground breaking move has announced the launch of fresh milk in US. While Amul has been exporting dairy products for many decades, this is the first time the dairy cooperative giant is launching fresh milk outside India. Amul has partnered with Michigan Milk Producers Association (MMPA), US’s tenth largest dairy cooperative, to introduce its signature branded milk in the American market. In this landmark partnership, Gujarat Co-operative Milk Marketing…