Government took big steps to bring transparency in the cooperative sector, 65 thousands societies will be digital
The target is to digitize about 65,000 cooperative societies by March next year. National Agriculture and Rural Development Bank Chairman Shaji KV said that doing this will bring transparency to the functioning of cooperative societies. NABARD has been designated as the Project Manager for the digitalization of cooperatives under the guidance of the National Level Monitoring and Implementation Committee and the Ministry of Cooperation.
The target is to digitize about 65,000 cooperative societies by March next year. National Bank for Agriculture and Rural Development (NABARD) Chairman Shaji KV said that doing this will bring transparency in the functioning of cooperative societies. NABARD has been designated as the Project Manager for the digitalization of cooperatives under the guidance and directions of the National Level Monitoring and Implementation Committee and the Ministry of Cooperation.
Nearly 10,000 cooperative societies have already been digitalized, he said at a conference organized by Sa-Dhan, an association of microfinance institutions. We are targeting to digitalize 65,000 committees by March 2024.
On the shortcomings in the level of efficiency in cooperative societies over the years, he said, we are trying to make them important value chain players by improving transparency and computerization of these institutions. He said that NABARD is also creating a data warehouse for cooperative societies and the rural sector. It should be ready in about six months.
