The much-touted Cooperative Policy proposes the formation of an apex cooperative bank at the national level to strengthen coordination among various tiers of cooperative banks. This initiative aims to harness their true potential by providing support in capacity building, professionalism, and expanding business opportunities.
The policy also emphasizes the adoption of digital technology in the cooperative credit and banking sector to enhance customer experience, improve operational efficiency, and ensure robust cybersecurity to mitigate risks and prevent fraud.
Key measures include the implementation of common banking software across different layers of cooperative banks and the establishment of a strong institutional framework to provide shared IT infrastructure to rural cooperative banks.