Under the leadership of former Union Minister Suresh Prabhu, members preparing the draft of the new National Cooperative Policy met the Reserve Bank of India Governor Shaktikanta Das in Mumbai on Friday last week.
During the meeting, the team led by Prabhu briefed the RBI Governor about the draft on the National Cooperative Policy being prepared by the panel to strengthen the cooperative sector.
Soon after the meeting, Prabhu shared photos and details through his social media accounts. He tweeted, “Good to have discussed issues related to cooperatives with @RBI Governor Shri @DasShaktikanta Ji. We need to strengthen the cooperative sector to spur economic growth and benefit all sections of society. #Cooperatives #Empowerment”.
Meanwhile, talking to the Indian Cooperative, one of the participants said, “The meeting, which lasted more than half an hour, deliberated on various aspects related to preparation of the National Cooperative Policy draft”.
“We briefed the RBI governor about the NCP panel recommendation on creation of the National Cooperative of Bank of India, which will be similar to the Nabard. It will be established with an RBI license. The objective of this bank is to deploy funds for 63k PACCs for development, among others”, the participant revealed.
He further added, “The discussion was also held about making the cooperative sector vibrant and strengthening PACCs at the grass root level. Different ideas were exchanged between representatives, which will be incorporated in the draft of NCP”.
On this occasion, Nafcub President Jyotindra Mehta, D Krishna, Anoop Kumar, Additional Chief Secretary, IRMA Director Umakant Dash and others were present.
It is said that the preparation of draft of new National Cooperative Policy is on the verge of completion and the backend office of Vamnicom under the guidance of its Director Hema Yadav, is busy incorporating suggestions from stakeholders.
The draft offers the roadmap for the next 25 years i.e. from 2024-2047 for the cooperative sector.
Several other apex bodies to be proposed in the draft policy include 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.
Union Minister Amit Shah had recently announced about the NCP Panel in the House. Shah said that the New Cooperative Policy aims to have a uniform co-op policy across states. He also said that representatives of every state have been included in the Panel so that the policy thus made has support of all the states. It bears recall that cooperative is a state subject.