Inauguration: Role of Cooperative Banks in Sustainable Development of Cooperative Banking Sector

Elets 2nd Maharashtra Cooperative Summit 2016 – Inauguration: Role of Cooperative Banks in Sustainable Development of Cooperative Banking Sector

S S Sandhu, Principal Secretary, Cooperation Marketing & Textile Department, Government of Maharashtra

“In the initial phase, our major challenge was to extend finance to farmers through the cooperatives. We had the starting target of only 13,000 crore but that too appeared as a tough task and many banks could not achieve the desired target due to lack of funds. Capital inadequacy and deficit in technology are the two key areas bothering the cooperative sector.”

Chandrakant Dalvi, Cooperative Commissioner, Government of Maharashtra

“Urban cooperative banks must work on technological advancement and the Government of Maharashtra also has a vital role to play in this drive. To play its role, the Government has started the E-Sahakar web portal, which can be an important tool for banks and technology partners. Almost all the work related to Cooperative Department can be executed using this online portal.”

Padma Jaiswal, Secretary, Cooperative Department, Government of Goa

“Cooperatives are bringing together the weaker and the unprivileged sections of the society. With the help of Cooperatives these suppressed sections of society get a chance to come together to empower themselves. Be it an artisan, a farmer or a fisherman, cooperatives are playing a pivotal role in their lives by giving them their financial independence and assisting their economic and social development.”

Vidyadhar V Anaskar, Chairman Maharashtra Urban , Cooperative Banks Federation

“Cooperative banks play an important role in bringing smaller savings into mainstream economy. To execute this task effectively, we need to be financially strong. If we want our business to grow rapidly; we need to tap young customers. We need to make the most out of the technologies and smart banking mechanisms.”

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