The Souharda Cooperative movement in Karnataka is becoming quite successful, as the total number of 6,194 souharda cooperatives business exceeded Rs 77,000 crore as on 31st March 2024.
According to the latest figures coming to Indian Cooperative desk “The deposits and loans of souharda cooperatives stood at Rs 43,704 crore and Rs 34,030 crore in the 2023-24FY. Besides, as on 31st March 2024, these cooperatives’ profit stood at Rs 626 crore.
“As of 31st March 2024, the e-stamping centers stood at 1,631. The Reserves and Working Capital stood at Rs 3,690 crore and Rs 49,396 respectively”, the data revealed.
The aim of the Souharda cooperative movement is to achieve “autonomy, self-administration and self-control “Karnataka state souharda federal cooperative Ltd” (KSSFCL) Bangalore is a statutory cooperative Federal body Constituted by the KSS Act to look after the growth & development of Souharda (liberal) cooperatives in the state.
As per the recommendation of the Central Planning Commission, the model cooperative act has been adopted in the Karnataka state by the name Karnataka Souharda Sahakari Act of 1997 which came into force on 01.01.2001 by the consent of the President of India.
Despite several controversies affecting the image of Souharda cooperatives from time to time, the overall growth of the co-op federation has been remarkable.
Souharda has continuously been imparting training to its members in order to have a robust cooperative movement in the state. This year alone it organized many such training sessions including one in March when a one-day special workshop at the “Souharda Sahakari Soudha” on Margosa Road in Malleswaram, Bangalore was held . The workshop focused on educating Chartered Accountants (CAs) and auditors on the format and guidelines pertinent to Souharda Cooperatives.
Earlier, in February, the Karnataka State Souharda Federal Cooperative organized a comprehensive two-day training program on “Managerial Excellence” aimed at enhancing the skills of Presidents and Directors from urban cooperative banks. The event took place at the prestigious Vijayshree Heritage Hospet.
Leaders of Souharda Fed were, however, very upset last year in December when the newly appointed State Cooperation Minister K N Rajanna made a statement in the state assembly revealing the government’s desire to abolish the state level federation known as Karnataka State Souharda Federal Cooperative. Rajanna has talked of poor governance as the reason for the possible move.
Since then, Souharda leaders have met not only the Minister but also other bigwigs to save the unique cooperative model. The threat seems to have ebbed away with time.