New Delhi, January 24 (HS): Union Home and Cooperative Minister Amit Shah is reaching the country's economic capital Mumbai today. He will take forward Prime Minister Narendra Modi's vision of 'Sahkar se Samriddhi' by inaugurating the corporate office of the National Urban Cooperative Finance and Development Corporation (NUCFDC). Its aim is to further strengthen the field of cooperatives. Advance information about this program was given in the press and information office (PIB) of the Government of India on January 22.

10,000 multipurpose cooperative societies will be ranked

According to the sources, Shah will release the annual calendar of activities during the International Cooperative Year 2025. Along with this, he will also launch the training program of 10,000 newly formed multipurpose cooperative societies in the country and the ranking framework for primary cooperative societies. The umbrella organization NUCFDC has been established to overcome the difficulties faced by urban cooperative banks in their business. This will help about 1,500 urban cooperative banks in the necessary IT infrastructure and operations. Not only this, the ranking framework of primary cooperative societies will help the societies to increase transparency, efficiency, and functionality. The big thing is that their credibility and competitive ability will increase unexpectedly.

NUCFDC will get Rs 300 crore

As per RBI's approval, the umbrella organization will function as a self-regulatory organization after receiving a paid-up capital of Rs 300 crore. The form of its functioning will be determined by RBI. RBI has directed the organization to obtain paid-up capital within one year from the date of registration i.e. by February 8, 2025.

The calendar will give a new dimension to the cooperative movement

According to sources, the release of the calendar of annual activities of the International Cooperative Year 2025 will give a new dimension to the cooperative movement. Through this calendar, the participation of cooperative organizations across the country will be increased and cooperatives will be strengthened at the global level. Organizing the Cooperative Year will help highlight the importance of cooperatives at the global level. This will lead to the exchange of experiences and best practices between different countries, which will further strengthen the cooperative institutions in India. It will become a source of inspiration for achieving the goals of rural development, employment generation, and economic prosperity through cooperatives. Also, it will help in empowering local communities and their socio-economic development.

56,760 people will be trained

According to the sources , 1,135 training programs will be organized for a total of 11,352 multi-purpose cooperative societies. 50 participants will be trained in each program. A target has been set to train a total of 56,760 people. 33 states and union territories will be included in the training. The help of 43 master trainers will be taken in this. According to the release, the ranking framework for primary cooperative societies aims to make their functioning efficient and transparent. In this direction, it provides a platform for gap identification, evaluation, decision making system. On this occasion, Shah will honor the top performing and functioning cooperative societies in key areas in the Ministry of Cooperation, various states and union territories.

Hindusthan Samachar / Jun Sarkar