Amit Shah to drive PM’s ‘Sahkar se Samriddhi’ vision at NUCFDC office launch in Mumbai
Union Home and Cooperative Minister Amit Shah will visit Mumbai today to advance Prime Minister Narendra Modi’s vision of ‘Sahkar se Samriddhi’. He will inaugurate the corporate office of the National Urban Cooperative Finance and Development Corporation (NUCFDC), aimed at strengthening the cooperative sector.
Shah’s visit includes releasing the annual calendar for International Cooperative Year 2025 and launching a training program for 10,000 newly formed multipurpose cooperative societies. This will enhance the transparency, efficiency, and credibility of over 10,000 societies across the country. The launch also includes a ranking framework for primary cooperative societies, boosting their competitiveness and operational standards.
The NUCFDC, established to support urban cooperative banks, will improve the IT infrastructure of about 1,500 urban cooperative banks. It will also receive Rs 300 crore in paid-up capital, approved by the RBI, to function as a self-regulatory organization. The RBI will guide its operational framework, with the goal of obtaining the full capital by February 2025.
The International Cooperative Year 2025 calendar will help elevate the cooperative movement globally. By fostering international cooperation, India aims to strengthen its cooperative sector and exchange best practices with other nations. This will contribute to rural development, employment generation, and socio-economic progress through cooperatives.
Shah’s visit will also focus on training 56,760 people through 1,135 training programs for 11,352 cooperative societies. These programs will involve 43 master trainers and cover all 33 states and union territories. Shah will also recognize high-performing cooperative societies for their achievements in various sectors.
