With ARDBs & RCSs, Shah propels entire co-op sector into digital realm

In a significant move towards advancing the vision of “Sahkaar Se Samriddhi”, Union Minister, Amit Shah, inaugurated the computerization scheme for the offices of the Registrar of Cooperative Societies (RCSs) and Agriculture and Rural Development Banks (ARDBs) across states. The ceremony, held in New Delhi, witnessed the presence of Union Minister of State for Cooperation, BL Verma, and other dignitaries.

During his address, Shah underscored two pivotal initiatives of the Modi government – Digital India and the Ministry of Cooperation – as foundational to rural prosperity. The computerization scheme, costing approximately Rs 225 crore, targets the modernization of cooperative systems, including Primary Agricultural Credit Societies (PACSs), Registrar of Cooperative Societies offices, and Agricultural and Rural Development Banks.

Under the Digital India framework, Shah highlighted the government’s efforts to extend cooperation digitally to villages, fostering transparency and accountability. The computerization of ARDBs and RCSs, with an allocated budget of Rs 120 crore and Rs 95 crore, respectively, aims to facilitate medium and long-term loans for farmers.

Shah commended the government’s comprehensive vision in enhancing the digital ecosystem within cooperatives. The initiative, which follows the earlier computerization of PACSs and cooperative banks, propels the entire cooperative sector into the digital realm. The National Cooperative Database, a by-product of these efforts, provides accurate information at various levels, aiding in the sector’s development.

The computerization project of ARDBs, spanning 13 states and UTs, seeks to link 1851 units with NABARD through Common National Software. This initiative, championed by the Ministry of Cooperation, aims to standardize business processes, enhance operational efficiency, and bring transparency to ARDB operations.

The integration with Common Accounting System (CAS) and Management Information System (MIS) will reduce transaction costs, expedite loan distribution to farmers, and enable real-time data access for effective monitoring and assessment of schemes.

The Minister expressed confidence that the computerization of ARDBs would lead to operational excellence, uniformity in accounting, and decreased corruption. Moreover, he emphasized the government’s consideration of linking all Primary Cooperative Agriculture and Rural Development Banks with a national software, bolstering the linkage of agricultural loans and benefiting over 1 crore 20 lakh farmers associated with them.

Shah highlighted the fulfilment of a long-standing demand by establishing an independent Ministry of Cooperation by Prime Minister Modi, marking a crucial milestone in rural development. Shah emphasized the transformative impact of the Modi government, which, over the past decade, has elevated the standard of living for millions, bringing approximately 23 crore people above the poverty line.