Jamnagar/Gandhinagar, July 29 (IANS) Union Home and Cooperation Minister Amit Shah has virtually inaugurated the newly constructed Sahakar Bhavan, the headquarters of The Jamnagar District Co-operative Bank Limited, saying the facility would serve as a centre for the economic upliftment of farmers and rural communities across the Halar region while strengthening the cooperative movement.
The new headquarters, built at an estimated cost of Rs 25 crore over 25,000 square feet, has been developed with modern banking infrastructure, including meeting and training rooms, a conference hall, dedicated dormitory accommodation for farmers, a kitchen, a dining hall and a Kisan hostel.
Addressing the inauguration virtually, Union Minister Shah said on Tuesday that the reforms introduced in the cooperative sector under Prime Minister Narendra Modi’s leadership had strengthened and advanced the rural cooperative ecosystem.
He added that the new Sahakar Bhavan would become an important instrument in realising the Prime Minister’s vision of “Sahakar Se Samriddhi”.
Congratulating bank chairman Jitu Lal and the board of directors, Union Minister Shah said: “The building was not just a structure but would become a centre for the economic upliftment of farmers, animal husbandry related farmers, and the rural community across the Halar region.”
He said modernisation was essential for strengthening cooperative banks and that their headquarters should be equipped with modern facilities.
He also commended the bank for adopting technology-based services in accordance with standards prescribed by the Reserve Bank of India (RBI) and the National Bank for Agriculture and Rural Development (NABARD).
Referring to the bank’s growth since its establishment in 1959, Union Minister Shah said it had started with deposits of only Rs 2.5 lakh but was now conducting annual business worth more than Rs 2,154 crore.
“It is a living example of the strength of the cooperative sector and the trust of the people,” he added.
He said that the bank, which currently operates 40 branches, would gradually expand its reach to every village in Jamnagar district and bring various cooperative societies and unions under its fold to further strengthen the cooperative sector.
Chief Minister Bhupendra Patel, who also joined the event virtually from Gandhinagar, said the banking and financial sector would play a crucial role in achieving the goal of making India the world’s third-largest economy during the Modi 3.0 government.
“The establishment of a separate Ministry of Cooperation under Amit Shah’s leadership had made the cooperative sector stronger and more transparent,” he added.
He described cooperative banks as “the big banks for the common people”, saying they had helped poor and underprivileged people, labourers and farmers become financially self-reliant through service societies, credit societies and women’s societies.
“Initiatives such as micro ATMs, Bank Mitras and digital banking had strengthened public confidence in banking services in rural areas,” Chief Minister Patel said.
Highlighting the performance of The Jamnagar District Co-operative Bank, the Chief Minister added that nearly 97 per cent of its total lending had been extended to agriculture and allied sectors.
“The bank’s net non-performing assets (NPA) stood at zero per cent, reflecting efficient loan management and the confidence of its customers,” he said.
State Forest and Environment Minister Arjun Modhwadia said significant decisions had been taken to reform the cooperative sector under the leadership of Prime Minister Narendra Modi and Union Cooperation Minister Amit Shah.
“Cooperative societies across villages had been digitised. The state government had provided assistance of more than Rs 11,500 crore to farmers affected by excessive rainfall and had ensured procurement at the Minimum Support Price to support agricultural incomes,” he added.
–IANS
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