NAFSCOB chairman calls upon SCBs to play a proactive role to bring economic prosperity to rural areas

K M Dayashankar


NAFSCOB annual general meeting held in Mizoram state

Mizoram Minister praises NAFSCOB chairman for taking measures to strengthen cooperative sector

Mizoram Chief Secretary Renu Sharma assures all assistance for transforming MCAB into a more vibrant cooperative 


KARIMNAGAR: National Federation of State Cooperative Banks limited (NAFSCOB) chairman Konduru Ravinder Rao has called upon the state cooperative banks to play a proactive role in making India self-reliant as well as ensuring the economic prosperity of the rural masses.

Mr Rao chaired the NAFSCOB annual general meeting and board of directors meeting held in the Aijal club in Aizawal of Mizoram state on September 14, 2022. Speaking on the occasion, he said the cooperatives should sustain themselves in this competitive environment by adopting new and innovative policies including the use of technology, good governance and moving closer to the people.

Thanking the Union Government for the constitution of a separate Ministry for the Cooperatives, he said that the new ministry under the leadership of Amit Shah was taking all measures to strengthen the cooperative sector by making them more professional and multi-dimensional. He said that the new cooperative ministry was constantly in touch with NAFSCOB.

Stating that the NAFSCOB was trying to bring everyone together such as state cooperative banks, DCCBs and PACS, he informed the managing directors and CEOs of DCCBs to furnish all the details of the PACS across the country to the Union Ministry. The cooperative sector alone was having last mile connectivity in the country, he said and called upon the Mizoram Cooperative Apex Bank to further penetrate its services.

Mr Ravinder Rao said that the NAFSCOB was making strides and emerged as a guiding force for all cooperatives in the country by introducing several reforms. Mizoram Minister for Rural Development and Information and Public Relations Lalrautkima was the chief guest at the inaugural ceremony. NAFSCOB managing director Bhima Subramanyam, Mizoram Cooperative Apex Bank chairman T Lalmuanpuii, MCAB Managing Director and CEO Lalzuahliana and others attended.

Speaking on the occasion, the Mizoram Minister said that MCAB was an important source of financial support for the people of the state to take up economic empowerment activities. He hailed NAFSCOB under the leadership of its chairman Ravinder Rao for successfully negotiating with the central government and solving several issues pertaining to the cooperative banks and strengthening of the cooperative sector.

He said that the NAFSCOB was a link between state cooperative banks, RBI, state and central governments, NABARD and other financial institutions. He praised Mizoram cooperative apex bank for organising the NAFSCOB annual general meeting and board of directors meeting in Aizawl.

Mizoram state Chief Secretary Renu Sharma interacted with the chairman, MD and board of directors. She assured all the assistance from the Mizoram government for making MCAB more viable and vibrant.


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