The apex body of State Cooperative Banks- Nafscob Managing Director Bhima Subrahmanyan was elected as the President of International Cooperative Banking Association (ICBA) last Saturday in Rwanda where co-operators from across the world have assembled.
Soon after the election, the newly elected board met at Kigali, Rwanda, in which among others NCUI Chief Executive N Satyanarayana was also present.
ICBA was established in 1922 with a membership of 7 European consumer cooperative banks. In 1964, the membership was opened to all cooperative banks and central cooperative credit organizations directly or indirectly affiliated to International Co-operative Alliance (ICA), of which it is a specialized body.
It’s aims is to exchange information, promote cooperation among cooperative banks, advise and assist the development of new cooperative banks, carry out studies and researches on subjects of common interest and several other things.