Union Home and Cooperation Minister Amit Shah has said that Urban cooperative banks should come forward to empower the aspiring youth and underprivileged sections of society.
Inaugurating the Co-op Kumbh 2025, an International Conference on the Urban Cooperative Credit Sector in New Delhi today, Mr Shah said, National Federation of Urban Cooperative Banks and Credit Societies Limited, NAFCUB and urban organisations should issue guidelines based on which every urban cooperative bank should redesign its financial structure.
He said the goal is to strengthen cooperatives while also uplifting the vulnerable sections of society. Mr Shah said the aim should be to establish an Urban Cooperative Bank in every town with a population of more than two lakh within five years.
He said, Tribhuvan Cooperative University has been established to connect the younger generation with cooperatives and also to prepare professionals for the cooperative sector.
Mr Shah said, This will create a generation which will take the cooperative sector to new heights by 2047. The Minister said, Government of India has made model bylaws for Primary Agricultural Credit Societies PACS and these have been adopted by every state.
He said, today, all PACS in the country operate on this model of bylaws. Mr Shah said, This has significantly reduced the likelihood of PACS becoming defunct, and even if one does become inactive, reviving it will now be easier.
The Cooperation Minister said, Sahakar DigiPay and Sahakar DigiLoan Apps, which have been launched, will enable even the smallest urban cooperative societies to join the new era of digital payments.
On the occasion, Mr Shah congratulated AMUL and IFFCO on being placed in the top two positions in the International Cooperative Alliance world ranking. He said, Amul is taking forward the White Revolution by collecting 30 million litres of milk nationwide.
The Union Minister of Cooperation said, IFFCO has become a pillar of the country’s Green Revolution by producing 9.3 million tons of Urea and DAP. He said, today, IFFCO’s Nano DAP and urea are exported to more than 40 countries, including Brazil, the USA, Oman, and Jordan.
The two-day conference is being jointly organised by the National Federation of Urban Co-operative Banks and Credit Societies (NAFCUB) and the Ministry of Cooperation. The theme of the conference is Digitalising Dreams – Empowering Communities.
The event aims to empower communities and strengthen the cooperative foundation of financial inclusion in the country through dialogue, innovation, and a shared vision.
It will see participation from policymakers, cooperative leaders, and international experts from the World Council of Credit Unions and GreenStone Farm Credit Services. The conference also celebrates the International Year of Cooperatives 2025.
