Supervision of cooperative banks in India

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Monitoring of Cooperative Banks

By GDP Delhi

The management and regulation of cooperative societies, including cooperative banks, is an ongoing exercise and initiatives in this direction by the new Ministry of Cooperation are taken in accordance with Indian Government Rules (Allocation of Affairs) of 1961, such as notified in the notification in the official journal of 06.07. 2021 and as indicated below:

1. General policy in the field of cooperation and coordination of cooperation activities in all sectors. Note: – The Ministries concerned are responsible for Cooperatives in the fields.

2. Realization of the vision “from cooperation to prosperity”

3. Strengthening the cooperative movement in the country and widening its reach to the grassroots.

4. Promotion of an economic development model based on cooperatives, including the spirit of responsibility among its members to develop the country.

5. Creation of an appropriate policy, legal and institutional framework to help cooperatives realize their potential.

6. Questions relating to the national cooperative organization

7. National cooperative development company

8. Establishment, regulation and liquidation of cooperative societies the object of which is not limited to a single state, including the administration of the “Multistate Cooperative Societies Act 2002 (39 of 2002)”: to provided that the ministry or administrative department is “” the central government “for the purpose of exercising powers under the Multi-State Cooperative Societies Act 2002 (39 of 2002), for cooperative units operating under its control.

9. Training of staff of cooperative services and cooperative institutions (including education of members, officials and non-officials).

This was stated by the Minister of Cooperation, Shri Amit Shah, in a written response to a question posed today to Lok Sabha.

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