Fast-Tracking Cooperative Banking Reforms for Sustained Growth

In a push for expedited cooperative banking reforms, Union Ministry of Cooperation Secretary Ashish Kumar Bhutani on Thursday called on states to accelerate the loan sanctioning process and ensure funds are effectively utilised within the current financial cycle.

Addressing attendees at the 'Sahkar se Samriddhi' National Review Conference in Varanasi, Bhutani highlighted the necessity for coordinated action and firm timelines to strengthen cooperative institutions. The seventh of its kind, this conference gathered senior officials from both the Centre and states to discuss the progress of ministry initiatives.

Key discussions included the computerisation of Primary Agricultural Credit Societies (PACS), grain storage plans, and diversification into multi-service centers. Bhutani emphasized the urgency of implementing these initiatives at the district level, underscoring the crucial need for renewed stakeholder convergence to ensure effective execution.