SRINAGAR: To mark the 64th All India Cooperative Week Celebrations, Jammu and Kashmir State Coperative Bank on Monday organised one-day event at its headquarter here in Srinagar.
Registrar Cooperative Societies Kashmir, Peer Hafiz-Ullah, who was the chief guest on this occasion, along with additional registrar participated in the closing ceremony of the week-long celebration. Each year from 14th to 20th of November cooperative societies celebrate this week to boost their spirit and suggest what more needs to be done to improve this sector.
Several people associated with the sector spoke on this occasion to emphasise the need of digitisation in cooperative societies to meet the challenges faced by them in present times.
The speakers while addressing the gathering put forward their suggestions in order to improve the condition of cooperative societies by implementing changes in doing business.
One of the speakers also highlighted the role cooperative banks have played in the Valley especially, in rural areas. He said that more than 3000 cooperatives are registered with the cooperative department but least of them were functional.
Managing Director (MD), Jammu and Kashmir State Cooperative Bank (JKSCB) requested government authorities and Cooperative Department to revive the infra structure of the department so as to inject new ‘blood’ in cooperative banking. “The induction of new blood will generate employment in the state,” he said adding “we have a potential to serve people in better way”.
Mohammad Shafi Dar, Chairman, Jammu and Kashmir State Cooperative Bank while addressing the gathering said that cooperative banks are capable of facing tough and open challenge from commercial and private banks in the State. “We don’t want financial help from the government as we are capable of doing things of our own. All we need is support from the Cooperative Department in order to operate more branches to boost the cooperative banks,” Dar said adding “state government should provide us participatory roles in government funds, schemes and deposits”.
He said they only have 36 branches in the Valley which is hampering the growth of the societies.
Registrar Cooperative Societies Kashmir, Peer Hafiz-Ullah while appreciating the role played by cooperative societies asked them to “prepare the report so that cooperative department can improve the infrastructure of the cooperative banks”.