Union Home Minister and Minister of Cooperation, Shri Amit Shah, unveiled the new building of Surendranagar District Cooperative Bank through a video conference.
Key Points
- Prime Minister’s Encouragement: The bank is set to fulfill crucial responsibilities towards cooperative societies in the Surendranagar district, aligning with Prime Minister Shri Narendra Modi’s vision.
- Cooperative Support in Gujarat: During Modi’s tenure as Chief Minister of Gujarat, significant steps, including interest-free loans up to Rs 3 lakh, were taken to support cooperatives.
- Financial Growth: Surendranagar District Cooperative Bank has witnessed impressive financial growth, with an annual profit of Rs 7 crore. Share capital increased from Rs 15 crore to 34 crore, deposits surged from Rs 53 crore to 400 crore, and KCC loans rose from 226 crore to 448 crore.
- Support to Farmers: The bank played a pivotal role in providing loans to around 28 thousand farmers, including 19 thousand small and marginal farmers, through more than 200 societies.
- National Initiatives: The Modi government is actively involved in national initiatives, including plans to establish 2 lakh Primary Agricultural Credit Societies (PACS) and allocating about Rs 2,500 crore for the computerization of PACS.
- Uniformity in PACS Bylaws and New Cooperative Policy: Efforts under Prime Minister Modi’s leadership include standardizing PACS bylaws nationwide. PACS will now function as Common Service Centers (CSC). A new cooperative policy is set to be implemented, focusing on long-term infrastructure development for the next 25 years and supporting initiatives like the world’s largest food grain storage.
Why In The Latest Current Affairs?
The unveiling of Surendranagar District Cooperative Bank’s new building signifies a crucial milestone in the cooperative sector. With the bank aligning with the Prime Minister’s vision and showcasing impressive financial growth, it exemplifies the government’s commitment to fostering cooperative development.
The Issue
The primary issue is centered around the development and support of the cooperative sector, with a focus on the role of Surendranagar District Cooperative Bank in achieving financial growth and providing essential services to farmers.
News
The news highlights the significant event of unveiling the new building, the financial achievements of Surendranagar District Cooperative Bank, and the broader context of national initiatives and policy changes under Prime Minister Modi’s leadership in the cooperative sector.
Important Questions For Exams
- What specific initiatives align with Prime Minister Narendra Modi’s encouragement of Surendranagar District Cooperative Bank?
- How has the cooperative sector in Surendranagar district benefited from the Prime Minister’s vision?
- Can you elaborate on the significance of interest-free loans up to Rs 3 lakh introduced during Modi’s tenure as Chief Minister of Gujarat?
- How have these cooperative support measures contributed to the overall development of the state?
- What factors can be attributed to the impressive financial growth of Surendranagar District Cooperative Bank?
- How has Surendranagar District Cooperative Bank played a pivotal role in providing loans to farmers, especially small and marginal farmers?
- What is the significance of the Modi government’s decision to establish 2 lakh Primary Agricultural Credit Societies (PACS) across the country?
- How will the allocation of Rs 2,500 crore for the computerization of PACS contribute to the enhancement of cooperative services?
- What broader implications do the financial achievements of Surendranagar District Cooperative Bank have for the cooperative sector in India?
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