The Ministry of Cooperation has asked states, union territories and cooperative banks to onboard cooperative banks as Corporate Agents to undertake insurance business of an IFFCO joint venture company, Union Minister for Cooperation Amit Shah informed the Rajya Sabha on Wednesday.
In a written reply, Shah said the initiative is aimed at facilitating cooperative banks to participate in insurance distribution as corporate agents.
He further said that the Committee of Secretaries, chaired by the Cabinet Secretary, has recommended inclusion of cooperative banks as participant institutions under various Government of India schemes. Following this, several ministries and departments have taken steps to include cooperative banks in their scheme guidelines. The Department of Animal Husbandry and Dairying has already revised its scheme guidelines to include cooperative banks.
The minister also informed the House that to mitigate cyber fraud and ensure prompt reporting and response, the Ministry of Cooperation has requested all states, union territories and cooperative banks to onboard the Indian Cyber Crime Coordination Centre (I4C) and the National Cyber Crime Reporting Portal (NCRP).
According to Shah, more than 600 cooperative banks have already been onboarded on the I4C platform.
