Amit Shah Advocates Technological Innovation in India's Cooperative Banking Sector

Union Cooperation Minister Amit Shah emphasized the importance of India's cooperative sector at a Pune event, advocating for technological integration. He commended PM Modi's initiatives to make the cooperative sector marketable and highlighted plans for urban cooperative banks. Shah linked the sector's growth to national development goals.

Union Cooperation Minister Amit Shah underscored the vital role of India's cooperative sector during the diamond jubilee celebrations of Janata Sahakari Bank Limited in Pune. Shah highlighted the government's efforts, led by Prime Minister Narendra Modi, to make the sector marketable and technologically advanced.

Addressing the attendees, Shah articulated the government's aim to propel the cooperative movement forward, linking its progress to India's aspiration of becoming a developed nation by 2047. He praised the establishment of the Central Register of Cooperative Societies' regional branch in Pune.

Shah emphasized the necessity of technological advancements within cooperative banking, revealing plans for an umbrella organization for urban banks. He announced initiatives like enhanced loan limits and the proposed creation of a clearing house, set to be operational in two years, to streamline the sector's operations.

(With inputs from agencies.)