District Co-op Banks Must Strengthen Primary Agricultural Credit Societies: Amit Shah

Union Home Minister and Minister of Cooperation Amit Shah said that the Government of India has started strengthening PACSs by taking 20 different initiatives and the District Cooperative Banks should also come forward in this work as stronger PACS will further strengthen the cooperative banks. Shah was addressing the 76th AGM of Kheda District Central Cooperative Bank Limited, Nadiad (Gujarat) after inaugurating its new building through video conferencing on Sunday. The new building of Kheda District Central Cooperative Bank Limited, spread over 36,000 square feet, was built at a cost of Rs 18.70 crore.

Several dignitaries including the Minister of Cooperation of Gujarat and the Chairman of National Agricultural Cooperative Marketing Federation of India (NAFED) were present on this occasion, according to an official release.

Addressing the participants, the Union Home and Cooperative Minister said that Kheda is the same district from where Amul was started under the successful guidance of the country's first Home Minister Sardar Vallabhbhai Patel. He said that Amul set an example of achieving ‘Sahkar se Samriddhi’ (Prosperity through Cooperation) before the entire country and the world.

Shah said that till some time ago there were talks of closure of Kheda District Cooperative Bank, but today this bank has constructed its own building of 36,000 square feet and has realised the dreams of implementing all rules of e-banking.

He said that under the leadership of Prime Minister Narendra Modi, the people of the country have got the formula of ‘Sahkar se Samriddhi aur Samriddhi se Sampoornata.’ Under this vision, PM Modi established the Ministry of Cooperation at the Centre for the first time after 75 years of Independence.

This initiative will play an important role in giving the cooperative sector an added life of at least 100 years in the coming times, Shah said.

The Union Minister of Cooperation said that the Centre is running pilot projects under the new initiative ‘Cooperation Amongst Cooperatives’ in Banaskantha and Panchmahal districts and appealed to the people associated with cooperative institutions to open their bank accounts in the District Cooperative Banks, so that a strong economic structure can be built in the cooperative sector.

He said that if the mantra of ‘Cooperation Amongst Cooperatives’ is successful, then India does not need to take help from anyone in the cooperative sector. There is no need to take even a single rupee from the Central or the State Government. Shah said that the entire cooperative movement can run strongly only with the money of cooperative institutions.