Cooperation Will Play a Major Role in India’s Rise as a Global Power,Maharashtra Cooperative Bank Should Document History of the Cooperative Movement:

 Cooperation Will Play a Major Role in India’s Rise as a Global Power

- DCM Eknath Shinde

Deputy CM Eknath Shinde highlighted that India, now the world's fifth-largest economy, is progressing rapidly toward becoming a global superpower, and the cooperative sector will play a critical role in this journey.

He mentioned that after the formation of the Ministry of Cooperation at the Centre, reforms in the sector have gained momentum. With NABARD’s help, rural marts are being set up, and tools like Kisan Credit Cards and Micro ATMs have strengthened rural cooperative efforts. The Maharashtra State Cooperative Bank, with a turnover of ₹62,000 crore, stands as one of the most financially sound cooperative banks in the country.

 

Maharashtra Cooperative Bank Should Document History of the Cooperative Movement: DCM Ajit Pawar

Deputy CM Ajit Pawar proposed that the Maharashtra State Cooperative Bank should compile a detailed report on the history of the cooperative movement, which began with the anti-usury uprising in Supa 150 years ago.

He pointed out that the bank is the only one in the sector to earn profits exceeding ₹600 crore consecutively, with a profit of ₹651 crore this year. He suggested provisions for sharing a portion of the profit with board members when the bank is profitable, while also recommending action against the board during financial distress. He called for management training for cooperative institutions and reaffirmed the government’s strong support for the cooperative movement.