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Union Home Minister Amit Shah will inaugurate a one-day National Conference of Rural Cooperative Banks organized by the Ministry of Cooperation and the National Federation of State Cooperative Banks (NAFSCOB) on Friday.
Union Minister of State for Cooperation BL Verma will address the valedictory session of the conference. Secretary, Ministry of Cooperation Gyanesh Kumar, NAFSCOB Chairman Konduru Ravinder Rao and NAFSCOB Managing Director Bhima Subrahmanyam shall also be present. An official release said that the short-term cooperative credit structure in India comprises 34 State Cooperative Banks, 351 District Central Cooperative Banks and 96,575 PACS. The National Federation of State Cooperative Banks was established on May 19, 1964, with the broad objective to facilitate the operations of state and central cooperative banks and the development of a short-term cooperative credit structure. NAFSCOB provides a common forum to its members and their affiliates, shareholders and owners to project their achievements, focus their concerns and promote their interests. Amit Shah will also present Performance Awards to select State Cooperative Banks, District Central Cooperative Banks (DCCBs) and PACS, and felicitate a few short-term cooperative credit institutions for 100 years of service. The release said that the government has been working for the betterment of agriculture and rural areas and as the government's investment in agriculture infrastructure increases, so does the role and potential of cooperatives. (ANI)
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