Union Home and Cooperation Minister Amit Shah announced in Parliament on Wednesday evening that the government will establish a cooperative insurance company to facilitate insurance services within the cooperative sector.
The new entity aims to provide tailored insurance solutions for cooperative institutions, ensuring better risk coverage and financial security.
Shah emphasized that this cooperative insurance company will compete with private sector insurers and is expected to emerge as a major player in the industry.
“This initiative will empower cooperatives by offering them better insurance coverage and financial stability, ultimately strengthening the sector,” Shah stated.
