Good governance and IT can give a fillip to cooperatives: NAFSCOB chairman

K M Dayashankar


HYDERABAD:  Mr Konduru Ravinder Rao, chairman of NAFSCOB, TSCAB and Karimnagar DCCB, has said that the cooperatives should rehaul themselves to achieve sustainable competitiveness in today’s dynamic business environment.

Stressing on the need for using the latest information technology to ensure transparency and accountability, he said that the good governance is also essential to any business enterprise including cooperatives.

Mr Rao participated as chief guest at the inaugural of a two-day training programme on ‘IT management and governance’ organised by the Bankers Institute of Rural Development (BIRD), Lucknow, for the board members and senior management of cooperatives banks of Bihar, Haryana, Madhya Pradesh, Maharashtra, Tamil Nadu and Andhra Pradesh states in Hyderabad city on Tuesday.  BIRD director Mr Shankar Pandey and NABARD CGM Mr YK Rao and others were also present.

Speaking on the occasion, the NAFSCOB chairman said the agricultural cooperatives have played a critical role in achieving food security, ending hunger and reducing poverty. However, in the 21st century, agricultural cooperatives have been facing secondary needs like value-addition, processing, organic production, technology usage and export among others, he stated.

“With a new Ministry of Cooperative in place at the Centre, there is renewed interest in the cooperative movement to ensure its competitiveness and sustainability in the country”, he opined. He also explained about the computerisation of all the PACS in the Telangana state to ensure transparency and accountability.

After computerisation, they made it mandatory for the End of Day (EoD) report with all the PACS, he said and added that the PACS were also linked with the DCCBs and TSCABs for collection of daily transaction reports. He also said that the computerisation of PACS had also reduced the migration of customers to other banks and it instilled confidence among the customers for transparent services and access to accurate data instantaneously.

BIRD Director Mr Shankar Pandey would be touring Karimnagar district on Wednesday to study the functioning Karimnagar DCCB, which had emerged as a role model in the country, and reaping riches with good governance and IT. He would also inspect some of the PACS to see its functioning in the rural areas.

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