Amit Shah reviews national roadmap to boost cooperative banking, organic products, cooperative exports
New Delhi, June 18
Union Home Minister and Minister of Cooperation Amit Shah on Thursday reviewed the national roadmap prepared to strengthen cooperative banking, organic products, and cooperative exports.
The high-level meeting focused on accelerating digital transformation, improving cybersecurity frameworks, and enhancing institutional support for cooperative entities.
Emphasising the need for modernisation, Shah directed cooperative banks to adopt a shared digital platform, robust cybersecurity systems, and common service frameworks at the earliest.
In a major push toward digitisation, Shah instructed rural cooperative banks to integrate with the 'Sahkar Sarathi' platform, while urban cooperative banks were asked to connect with the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC).
It was also mentioned that NUCFDC is working to bring all urban cooperative banks onto a common platform to provide technological solutions and institutional support. The move is expected to streamline operations, improve service delivery, and strengthen financial inclusion in both rural and urban areas.
Highlighting the importance of cybersecurity in the evolving financial landscape, the Home Minister noted that the integration of MuleHunter.AI with the Indian Cyber Crime Coordination Centre (I4C) would significantly enhance fraud detection capabilities and cybersecurity preparedness of cooperative banks. This integration is seen as a critical step in safeguarding cooperative banking networks from rising digital fraud threats.
During the meeting, officials informed that 'Sahkar Sarathi' has already launched the Aadhaar Enabled Payment System (AePS) services. Additionally, e-KYC services have gone live in select cooperative banks, with a target to onboard at least 100 cooperative banks by August 2026. These initiatives are expected to simplify banking processes and improve accessibility for customers, particularly in rural and semi-urban regions.
The review also covered developments in the cooperative organic and export sectors. It was also noted in the meeting that the National Cooperative Organics Limited (NCOL) will increase procurement from organic farmers and strengthen testing, certification, and market linkages, while the National Cooperative Exports Limited (NCEL) will expand the reach of cooperative products in global markets.
Officials also highlighted the role of 'Co-op Mark', a digital marketplace designed to promote cooperative products. The platform is expected to drive a digital marketplace, international expansion and cooperative products for stronger brand recognition, wider market access, and greater competitiveness.
In the meeting, Shah reiterated the government's commitment to strengthening the cooperative sector as a key pillar of economic growth. He stressed that technological integration, improved governance, and global market access would play a crucial role in transforming cooperative institutions into modern, efficient, and globally competitive entities.
The review meeting marks another step in the government's broader strategy to revitalise the cooperative ecosystem and ensure its alignment with India's digital and economic growth ambitions.
— ANI
Reader Comments
As someone who works with a cooperative dairy, this news is very promising. The 'Co-op Mark' digital marketplace can be a game-changer for small producers like our farmers. But the real test will be whether these platforms are user-friendly for our rural members who aren't tech-savvy. Training and handholding are crucial.
Amit Shah's focus on cybersecurity is spot on. With digital frauds increasing everyday, cooperative banks are often the most vulnerable. MuleHunter.AI integration with I4C sounds impressive – but I hope the smaller banks actually get the resources to implement these systems. Talk is cheap, execution matters.
The organic farming push through NCOL is wonderful news! Our family grows organic vegetables but we struggle to get fair prices. If they can really strengthen testing, certification and market linkages, it will help thousands of small farmers. Just hope the procurement rates are actually competitive and not dictated by middlemen. 🌱
Good intentions, but I'm skeptical. We've seen many such 'roadmaps' in the cooperative sector before. The real issue is transparency and governance in cooperative banks. Without cleaning up the management and reducing political interference, no amount of technology will help. Focus on that first, then digitisation.
Interesting developments. As someone working in fintech, the common digital platform for cooperative banks is a smart move. It'll reduce operational costs significantly. The e-KYC rollout target of 100 banks by 2026 seems achievable. Let's see if they can actually bring all urban cooperative banks onto NUCFDC's platform.
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