Union Home Minister and Minister of Cooperation, Amit Shah, addressed the 76th Annual General Meeting (AGM) of the Kheda District Central Cooperative (KDCC) Bank Limited in Nadiad, Gujarat on Sunday via video conferencing.
Shah also inaugurated the bank’s new building, Sardar Patel Sahkar Bhavan, constructed at a cost of Rs 18.70 crore. The event saw the presence of several dignitaries, including Gujarat’s Minister of Cooperation and the Chairman of the National Agricultural Cooperative Marketing Federation of India (NAFED).
In his address, Shah highlighted the significance of Kheda district, known as the birthplace of Amul under the guidance of India’s first Home Minister, Sardar Vallabhbhai Patel. He emphasized Amul’s role in demonstrating the success of “Sahkar se Samriddhi” (Prosperity through Cooperation) to the nation and the world.
He noted the bank’s remarkable turnaround from talks of closure to now owning a 36,000-square-foot building, embodying the vision of e-banking.
Shah praised Prime Minister Shri Narendra Modi’s leadership in establishing the Ministry of Cooperation, marking a new era for the cooperative sector. He expressed confidence that this initiative would rejuvenate the cooperative sector for at least the next 100 years.
The newly inaugurated Sardar Patel Sahkar Bhavan, a modern, four-storey, centrally air-conditioned building, is expected to greatly benefit the farmers and residents of Kheda district. Shah commended KDCC Bank for its pioneering efforts in implementing loan management, document management systems, and tablet banking within Gujarat’s cooperative banking sector.
Reflecting on the bank’s journey since its inauguration in 1950, Shah noted its current net profit of approximately Rs 31 crore. Despite past uncertainties, the bank now boasts a reserve fund of Rs 258 crore and deposits totaling Rs 2500 crore, following the acquisition of its banking license in 2012.
Shah announced that the Central Government is piloting new projects under the initiative “Cooperation Amongst Cooperatives” in Banaskantha and Panchmahal districts. He urged those involved in cooperative institutions to support District Cooperative Banks by opening accounts, thus strengthening the economic framework of the cooperative sector. He emphasized that a successful cooperative movement can operate independently of Central or State Government aid.
Concluding his address, Shah called for DCCBs to bolster Primary Agricultural Credit Societies (PACS). He highlighted the Government of India’s 20 initiatives aimed at strengthening PACS and encouraged cooperative banks to participate actively in these efforts, ensuring a robust cooperative banking system.
