In a momentous virtual ceremony, Union Home Minister and Minister of Cooperation, Amit Shah, unveiled the state-of-the-art headquarters of the Surendranagar District Cooperative Bank, marking a significant milestone for the district. The event underscored the government’s commitment to cooperative development and its integral role in fostering economic growth and rural prosperity, said Shah on the occasion.
Shah emphasized the evolution of the cooperative bank and applauding its achievements, he envisioned a robust future, highlighting the pivotal role cooperatives play in the economic fabric of the nation. The inauguration of the new building serves as a testament to the government’s dedication to fostering cooperative institutions as key drivers of economic development.
Surendranagar Cooperative Bank, hailed for nurturing farmers and advancing agricultural finance, received accolades from Amit Shah. He commended the bank’s pivotal role in transforming the agricultural sector, citing examples of reduced interest rates and expanded financial support for farmers.
The cooperative bank, established in 1960, has played a crucial role in mitigating the influence of moneylenders and, with the advent of Narmada river water delivery, witnessed a significant increase in farmer income.
Paving the way for the future of cooperative banking in Surendranagar, Shah outlined the institution’s journey from its inception to its current stature. Predicting a prosperous cooperative future, he highlighted the bank’s commitment to fulfilling responsibilities towards cooperative societies across the district.
The newly constructed headquarters, with a total cost of Rs 10 crore, boasts modern facilities such as a conference hall with a capacity of over 100 people, more than a thousand lockers, and advanced golden lockers. Additionally, a complete computerized core banking facility has been integrated, aligning the bank with contemporary banking standards.
With an annual profit reaching Rs 7 crore, a share capital of Rs 34 crore, and deposits soaring from Rs 53 crore to 400 crores, the cooperative bank has demonstrated remarkable growth.
Shaping the future of cooperative banking in Surendranagar, Shah outlined plans to boost Primary Agricultural Credit Societies (PACS). Ensuring uniformity in bylaws and expanding their role in various sectors, the government aims to enhance the reach and impact of cooperatives. Initiatives such as the establishment of 2 lakh more PACS nationwide, computerization spending of about Rs 2,500 crore, and the diversification of PACS into different sectors illustrate the commitment to revitalizing cooperative institutions.
In the concluding segment, Amit Shah discussed the cooperative policy revolution envisioned by Prime Minister Modi for the next 25 years. Shah expressed confidence that, in the coming years, Gujarat will lead the nation in cooperative endeavors, solidifying its position as a cooperative powerhouse.
The cooperative movement, with its roots deeply embedded in rural development, is poised to play a pivotal role in shaping a prosperous and sustainable future for Surendranagar and beyond, underlined Shah.
