Union Home and Cooperation Minister Amit Shah, in a written reply in the Rajya Sabha, stated that Dairy and Fishery Cooperative Societies can be appointed as Bank Mitras of District Central Cooperative Banks (DCCBs) and State Cooperative Banks (StCBs) to boost business and deepen financial inclusion.
To support this initiative, Micro-ATMs are being provided to these Bank Mitra cooperative societies with assistance from NABARD, enabling them to deliver doorstep digital financial services in rural and underserved areas.
The Minister informed that a pilot project on ‘Cooperation among Cooperatives’ was launched on 12 July 2023 in Banaskantha and Panchmahal DCCBs in Gujarat. The initiative aimed to route all financial transactions of Primary Dairy Cooperative Societies (PDCS) through Rural Cooperative Banks and build a self-reliant cooperative sector.
Following its success, the campaign was expanded across all districts of Gujarat from 15 January 2024. Further, the Standard Operating Procedure (SOP) for its nationwide rollout was launched on 19 September 2024.
Shah highlighted that Bank Mitra cooperative societies, mainly PDCS, can significantly empower women and backward classes by issuing RuPay Kisan Credit Cards and ensuring last-mile banking services, thereby enhancing their access to the formal financial system.
