Credit societies must embrace modern technology, professional management and strong leadership to remain competitive and achieve sustainable growth, Gujarat State Co-op. Credit Societies Federation Chairman Ghanshyambhai Amin said at the Federation’s 30th Annual General Meeting and State-Level Cooperative Credit Societies Seminar held in Ahmedabad recently.
Addressing the AGM, Amin underlined the growing global importance of the cooperative movement, noting that cooperatives operate in more than 120 countries and have emerged as an effective instrument for improving the economic well-being of small and middle-income communities. He said the UN’s observance of 2025 as the International Year of Cooperatives under the theme “Cooperatives Build a Better World” reflected worldwide recognition of the cooperative model.
Amin said Prime Minister Narendra Modi’s vision of “Sahkar Se Samriddhi” and initiatives led by Union Cooperation Minister Amit Shah have given fresh momentum to the sector. He highlighted new national cooperative institutions, including National Cooperative Exports Limited, Bharatiya Beej Sahakari Samiti Limited, National Cooperative Organics Limited and Bharat Taxi, saying they were opening new opportunities for farmers, cooperatives and the rural economy.
On credit societies, Amin said growing competition from small finance banks made technological and managerial transformation essential. He called for online and computerized services, expansion of membership, improved deposit and lending structures and more flexible lending practices.
Credit societies, he said, should focus particularly on artisans, masons, blacksmiths, tailors, construction workers, labourers and other lower- and middle-income groups, including by considering small loans of around ‚Rs 50,000. Their primary objective should remain helping such sections achieve financial self-reliance.
The Federation also instituted the Ghanshyambhai Amin Cooperative Award to commemorate Amin’s contribution to the cooperative movement and encourage trainees of the Diploma in Cooperative Management course conducted through cooperative management centres of the Gujarat State Cooperative Union. The top-performing trainees of the 56th and 57th batches received shields, certificates and cash prizes.
Amin was also felicitated by Federation Vice-Chairman Dr. Jivrajbhai Godhani and the Board of Directors. He was recently elected unopposed for a ninth consecutive five-year term as an NCUI Director representing the Gujarat-Rajasthan-Haryana constituency and was felicitated by several Gujarat credit societies.
Federation CEO Dushyantsinh C. Vaghela presented the previous AGM proceedings and annual accounts, which members unanimously approved.
The state-level seminar focused on cybersecurity, artificial intelligence and digital transactions. Hiteshbhai Patel spoke on cyber security, Nileshbhai Vayak on AI, and Pravinbhai Patel on digital transactions and credit societies. The speakers also answered members’ queries and offered practical guidance. A large number of credit society representatives attended the programme.
