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Business EconomyPosted at: Feb 8 2016 7:00PM


Cooperatives need to regain leadership in agri-finance sector: NABARD

Lucknow, Feb 8 (UNI) National Bank for Agriculture Rural Development (NABARD) chairman Harsh Kumar Bhanwala today stressed the need for reinventing the Cooperative Credit Delivery mechanism, in line with the rapid and dynamic changes being ushered in through technological advancements in the credit delivery in the country.
Addressing a tow-day national conference on ‘Regaining Leadership in Agricultural Finance’, Dr Bhanwala here said that Cooperatives seem to be losing their hold in agricultural credit.
"Over a period of time, the share of cooperatives in agricultural credit has declined and hovering around 17 per cent for the last 2 to 3 years," he said.
He wished that discussions in the conference, being organised jointly by NABARD and Bankers Institute of Rural Development (BIRD), will benefit the entire Short Term Cooperative Credit Structure (STCCS).
Dr Bhanwala also dwelt upon and flagged issues ranging from technology adaptation by
cooperatives, human resources management as well as business diversification for long term sustainability of the cooperatives.
Suma Verma, Principal CGM, RBI underlined the efforts of NABARD in institutional building and expressed hopes that deliberations through the conference will enhance the fiscal discipline of the Cooperative Credit Structure especially in light of the BASEL norms.
Dileepbhai Sanghani , President NAFSCOB stressed the need to focus on the multitude of issues pertaining to the cooperative structure. Dr Aashish Kumar Bhutani, Joint Secretary, Ministry of Agriculture, focussed on various steps needed for revival of the Primary Agriculture Cooperative Societies.
On the occasion, a publication titled “Analytical review of Financial Performance of State Cooperative Banks (STCBs ) as on 31 March 2015” was unveiled.
The conference shall be deliberating on the issues like business development, revival of PACS, technological adaptation by cooperatives, corporate governance & management, regulation, supervision and audit of the cooperatives.
Over 100 delegates comprising Registrar of Cooperative Societies of various states, Chairman and Managing Directors of various Cooperative Banks across different states ranging from Himanchal Pradesh to Manipur, Gujarat, Kerala, Punjab, Haryana, Delhi, Bihar, Uttrakhand, Jharkhand, Tamil Nadu are participating.
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