NAFSCOB meet charts roadmap for Rural Banking growth in Gangtok

The National Federation of State Cooperative Banks (NAFSCOB), in association with Sikkim State Cooperative Bank, organised a day-long National Consultative Meeting on “Recent Trends in Short-Term Cooperative Credit and Banking Institutions” in Gangtok on Tuesday, bringing together key stakeholders from across the country.

Sikkim’s Minister for Cooperation and Rural Development, Arun Upreti, who attended as the Chief Guest, underscored the role of the cooperative movement in fostering inclusive economic development.

He highlighted initiatives undertaken by the state government to support farmers, entrepreneurs and rural households, and emphasised the need for digital banking, improved governance, regulatory compliance, transparency and professional management to ensure sustainability in the sector.

In his address, Director on the Board of National Bank for Agriculture and Rural Development and Director on the Central Board of Reserve Bank of India, Satish Marathe, described cooperatives as key growth engines and called for innovative approaches to strengthen the sector, with a focus on empowering rural institutions through supportive legal frameworks.

Former Chairman of NAFSCOB, Konduru Ravinder Rao, congratulated SISCO Bank for hosting the meeting and highlighted key milestones and recent policy developments, urging cooperatives to remain adaptive to emerging opportunities.

In his introductory remarks, Bhima Subrahmanyam, Managing Director of NAFSCOB, outlined key themes for deliberation, including strategies to expand business growth of Short-Term Cooperative Credit Structures (STCCS) during Amrit Kaal (2022–2047), implementation of Government of India task force recommendations, and recent policy initiatives of the Union Ministry of Cooperation. He also referred to the proposed National Cooperative Policy 2025, the Business Reform Action Plan (BRAP), and developments in cooperative banking in the North-Eastern region.

Advisor to SISCO Bank, Chaitanya Sharma, expressed confidence that the deliberations would benefit from diverse inputs, while Chairman Dup Pintso Kaleon stressed that agriculture and rural development must remain central to cooperative initiatives. Chairman of Himachal Pradesh State Cooperative Bank, Davender Singh Shyam, highlighted the role of cooperatives in promoting organic farming, noting that Himachal Pradesh is drawing inspiration from Sikkim’s achievements in the sector.

CEO of Satara DCCB, Rajendra Sarkale, outlined the bank’s functioning and emphasised the need for cooperative banks to keep pace with evolving banking systems.

In her welcome address, Pema Chenzom, Managing Director of Sikkim State Cooperative Bank, noted that this was the first national-level cooperative banking programme hosted in the state and described cooperative banks as a backbone of the rural financial ecosystem.

During the programme, the Chief Guest presented Best Performance Awards across multiple categories, recognising contributions by State Cooperative Banks, District Central Cooperative Banks, Primary Agricultural Credit Societies and training institutes from across the country.

The meeting also featured panel discussions on cooperative credit in the North-Eastern states, regulatory developments, supervisory frameworks, initiatives of the Union Ministry of Cooperation, and the sector’s roadmap for Amrit Kaal, with a focus on capacity building and institutional strengthening.

The event witnessed participation from representatives of 12 State Cooperative Banks, 15 District Central Cooperative Banks, Primary Agricultural Credit Societies, training institutes, and officials from NABARD, among others. The programme concluded with a vote of thanks by Bivash Lamichaney.