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Through amendments to the Banking Regulation Act and the Multi–State Cooperative Societies Act, 2002, the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD) have taken significant steps to reinforce governance, transparency, and accountability in cooperative banks. These amendments introduce a ten-year term limit
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The Ministry of Cooperation is leading a significant drive to enhance the role of cooperative societies and banks in expanding insurance outreach, aiming to reach the goal of 'Insurance for All by 2047'. This initiative enables cooperative banks to distribute insurance products, especially in rural and semi-urban areas,
news
The Reserve Bank of India, collaborating with the Government of India, is implementing new initiatives to enhance the financial robustness, governance, and digital integration of cooperative banks. Key measures include reclassification of loans to the National Cooperative Development Corporation as priority sector lending, increased housing loan limits, and reduced licensing
Aadhaar
Dr. Ashish Kumar Bhutani, Secretary of the Ministry of Cooperation, participated in a workshop aimed at onboarding Cooperative Banks to Aadhaar-enabled Payment Services. This initiative, aligned with Prime Minister Modi's vision of 'Sahkar se Samriddhi', seeks to empower cooperative banks, enhance financial inclusion in rural areas,
PACS
The Ministry of Cooperation has initiated the Computerization of PACS project, integrating Primary Agricultural Credit Societies (PACS) with cooperative banks through a Common National Software. This ERP-based system enhances operational efficiency, governance, and transparency, leading to faster loan disbursal and reduced transaction costs. Additionally, a focus on cybersecurity has led
Cooperative Banks
As of August 2025, there are 1,457 Urban Cooperative Banks, 34 State Cooperative Banks, 351 District Central Cooperative Banks, and one Industrial Cooperative Bank in India, all supervised by RBI and NABARD. The report includes details on loans sanctioned by these banks since 2020, with specific data for Telangana.