The meeting of the Panel for preparing the draft of the new National Cooperative Policy took place at the NCUI headquarters on Tuesday, wherein several ground-breaking ideas such as formation of National Cooperative Recruitment Board, National Cooperative Audit & Accounting Board or National Cooperative Tribunal were discussed.
The meeting which was touted to be the last, was however not so as members felt the need to meet once more for the finalization of the draft. The meeting was organized in the board room of NCUI, under the chairmanship of former Union Minister Suresh Prabhu.
The meeting lasted more than three hours and was attended by the majority of members including NCUI Chairman Dileepbhai Sanghani, Kribhco MD Rajan Chowdhry, RBI Central Board Director Satish Marathe, Nafcub President Jyotindra Mehta, NFCSF MD Prakash Naiknavare, Nabard Chairman Shaji K V, Udaipur Dudh Utpadan Sahakari Sangh, Chairperson, Geeta Patel and others.
During the meeting, many new suggestions were given by the members, which will be incorporated before finalizing the draft. It may take a few more days to finalize the draft, said a member to the Indian Cooperative correspondent soon after the meeting.
The draft mentioned the establishment of 50,000 new PACCS, Dairy and others between 2024-2030. During the years, the share of rural credit will be enhanced from the current share of 18 percent to 20 percent and share of UCBs in the banking system from 3.06 percent to 4 percent.
Between 2030-2047, this strategy will computerize 2.50 lakh functional PACCs in the country and bring them on a single national platform and integrate national cooperative databases with all stakeholders.
And by 2047, the draft has plans to establish 6 lakhs new PACCs, Dairy, Fishery co-ops. Besides, it talks about training 50 crore board members and others.
The new National Cooperative Policy draft also mentioned the establishment of the National Cooperative of Bank of India, which will be similar to the Nabard. It will be established with the RBI license. The objective of the bank is to deploy funds for 63,000 PACs for development, among others.
Several other apex bodies to be proposed in draft policy includes Development Financial Institution, National Cooperative University, Centre for Excellence, National Cooperative Recruitment Board, National Cooperative Audit & Accounting Board, National Export Multi State Cooperative Society, National Cooperative Tribunal and others.
