Sahakar Bharati is making efforts to revive the cooperative movement in North-Eastern states which is perceived to be weak. It is in this context that Sahakar Bharati Chief Jyotindra Mehta recently addressed the delegates of Urban Cooperative Banks of Assam in Guwahati.
The event was organized by the Industrial Cooperative Bank which is known as the largest urban cooperative bank of Assam.
In his address, Mehta stressed the importance of Umbrella Organization saying it will completely change the scenario of UCBs and provide them immense opportunities to grow. It will benefit the UCBs not only on the financial front but also make technology and new innovations accessible to them”, he informed.
“He urged UCBs representatives to revive the Assam Urban Cooperative Banks federation which has been inactive for the last so many years. He asked them to help smaller cooperatives grow stronger”, said Mehta who is also the President of NAFCUB.
In a telephonic chat with Indian Cooperative Industrial Cooperative Bank MD Subhra Jyoti Bharali informed that, “There are 16 UCBs in North Eastern States and out of this 8 UCBs are in Assam itself. More than 30 delegates representing Assam’s four UCBs have attended the conference. A fruitful discussion was held with these UCBs representatives”, he added.
Industrial Cooperative Bank was established on 19th Feb 1953 and currently the bank has four branches across the state with a total business mix of about Rs 350 crore. The bank has earned a net profit of Rs 2 crore in FY 2017-18 while it had suffered a loss of around Rs 18 crore in 2015. This marks a great turnaround in the bank’s fortunes.
