In a significant event fostering international cooperation, VAMNICOM, a premier cooperative management institute in India, had the honour of hosting a 42-member delegation from FACACH, Honduras. This was posted by the Union Cooperation Ministry on X.
The visit, organized by FACACH, in collaboration with the National Federation of State Cooperative Banks (NAFSCOB) and the International Cooperative Banking Association (ICBA), is part of an internship program designed to share knowledge and expertise on cooperative banking.
The delegation arrived in India on October 7, 2024, for a 10-day program aimed at strengthening cooperative ties between Honduras and India. The first phase of the program took place in Maharashtra, where the delegates visited key cooperative organizations, including Maharashtra State Cooperative Bank, NABARD, SiKHAR, NAFSCOB, VAMNICOM, and the College of Agricultural Banking under the Reserve Bank of India (RBI).
During these visits, the delegates were exposed to the functioning of India’s cooperative banking system, agricultural finance models, and rural development initiatives.
The program emphasizes the exchange of best practices in cooperative banking to enhance economic empowerment and financial inclusion, particularly in rural areas.
The visit is expected to open doors for future collaborations between the two countries, with the next phase of the program scheduled to take place in Hyderabad and New Delhi.
These efforts will likely foster deeper cooperation in the cooperative movement, laying the groundwork for mutual growth and learning.
This initiative is not only a testament to India’s growing global role in the cooperative sector but also highlights the importance of international partnerships in achieving shared economic development goals.
