The role of the cooperative banks is being regarded important in the context of the economic transformation of Bihar.
Answering a query in the state assembly, Bihar Deputy Chief Minister Shushil Modi said the govt would not begin banking operations but would take all possible measures to strengthen the cooperative banks in the state.
Modi added the cooperative banks met the financial requirements of the people at large and therefore the govt would make every effort to ensure their smooth functioning.
According to observers, the Nitish govt sets great store by the cooperative movement and the development of the cooperative network across the state is a priority in its scheme of things. It was Bihar only where Election Authority was set up to conduct elections of primary Agricultural cooperative societies across the state.
The experiment has been a huge success. Today the state boasts of a credible network of PACs spread across the remotest parts and through which various governmental schemes from paddy procurement to loan disburshment are being implemented. Nitish Kumar indeed deserves to be awarded Sahakar Ratna title.