Shah to inaugurate the National Conference of Rural Cooperative Banks today

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Union Home Minister Amit Shah on Friday will inaugurate a one-day national conference on rural cooperative banks organized by the Ministry of Cooperation and the National Federation of State Cooperative Banks (NAFSCOB).

Union Minister of State for Cooperation BL Verma will address the farewell session of the conference.

Cooperation Ministry Secretary Gyanesh Kumar, NAFSCOB Chairman Konduru Ravinder Rao and NAFSCOB Director General Bhima Subrahmanyam will also attend.

An official statement says that the cooperative short-term 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 general objective of facilitating the operations of state and central cooperative banks and the development of a cooperative short-term credit structure.

NAFSCOB provides a common forum for 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, Central District Cooperative Banks (DCCBs) and PACS, and congratulate a few short-term cooperative credit institutions for 100 years of service.

The statement said that the government has been working for the improvement of agriculture and rural areas and as government investment in agricultural infrastructure is increasing, the role and potential of cooperatives is also increasing.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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