He said that to make the rural banks and financial institutions modern, fast, secure, and competitive, the ‘Sahkar Sarathi Private Limited (SSPL)’ and its 14 new services and products have been launched.
File Photo: IANS
Union Home and Cooperation Minister Amit Shah on Friday said that the Rural Cooperative Banks are strengthening the economy of rural India and ensuring economic progress of the country’s villages.
He said that to make the rural banks and financial institutions modern, fast, secure, and competitive, the ‘Sahkar Sarathi Private Limited (SSPL)’ and its 14 new services and products have been launched.
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According to Shah, these initiatives will make cooperative banking fast, secure, transparent, technology-enabled, and consumer-centric, and will enable them to provide quality services comparable to commercial banks.
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Additionally, facilities such as paperless loan systems, easy verification through the e-KKC portal, and real-time complaint resolution will also be available, the cooperation minister added.
Shah on Friday addressed NABARD’s Earth Summit in Gujarat’s Gandhinagar, calling it the country’s first platform of its kind, where the power of cooperatives, financial understanding, technological innovation, and grassroots experiences will be put together to provide a global platform for rural innovation.
He informed that the summit, which will be for two days, will feature deliberations on various topics such as investment, empowerment of women’s cooperative societies, innovation, fintech, and rural bio-economy.
Shah has also said that in the times to come, cooperative insurance is going to be introduced, be it health insurance, life insurance, agriculture insurance, or accident insurance.
According to Shah, three youths in every village will be made ambassadors of cooperative insurance, and this way, employment will be provided.
Shah said that there is going to be a transformation in agriculture, while cooperation will become more transparent, inclusive, and profitable, and animal husbandry will become the backbone of the rural economy.
He also emphasized the importance of organic farming, saying that it is crucial for global health, and added that 49 lakh certified farmers have switched to such farming methods.
He also said that farmers had a problem, which was regarding how to give credibility to their organic product, and how the customer knows whether it is an organic product. And to solve this, Shah shared that the government is creating a chain of laboratories in collaboration with Bharat Organics and Amul Organics.
“We are getting the organic testing done for farmers’ land and produce, keeping the Indian and global markets open for them,” Shah said.
He said that after Narendra Modi became the Prime Minister, rural development, agriculture, and cooperation have been considered important components for the country’s development, and the Union government has started aligning the financing and entire system for these.
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