During the last few years, the
Federation played an important role in the following matters:
a significant role towards extending some of the provisions of the banking
regulations Act to the cooperative banks.
supported the idea of extending deposit insurance scheme to the cooperative
Government of India to adopt favourable policy regarding contribution to the
agricultural credit stablilisation fund of the member banks.
persuaded Government of India to abolish interest tax on the earnings of the
successfully efforts in extending the provision of section-13 of the
Income-Tax Act 1961 to cooperative banks.
conferences of district central cooperative banks in the country and paved
the way for exchange of views among cooperative bankers on important
operational and policy matters.
Industrial Development Bank of India to approve in principle the proposal
for extension of refinance to urban and district central cooperative banks
to support SSI sector and pursued the matter further with Government of
India at the level of Hon'ble Union Finance Minister to ensure issue of
up a Review and Action Committee on North Eastern Region to make special
study of the problem's of the cooperative credit movement in the region and
initiate developmental programmes in the sphere of Cooperative Credit,
up the issue of some State and Central District cooperative banks facing the
problem of surplus funds to deploy such of their surplus resources through
consortium financing arrangements for better income earning, types of
business like fertilizer and distribution, working capital requirements of
manufacturing and marketing units etc.
presented the adverse implications of the administered interest rate
structure both on Advances and Deposits.
to Senior Expert Group constituted by the Reserve Bank of India the
cooperative banks views on the various aspects of rural credit, including a
detailed memorandum on such matters and the case for formation of National
Cooperative Bank of India.
been taking up with the Hon'ble Union Finance Minister important policy and
operational issues before the presentation of Budget every year.
up the following important issues with the concerned authorities, including
the Government of India.
a)Constitution of Agricultural Credit Relief Fund.
b)Solution to the problems emerging from Debt Relief Scheme.
c)Impact of Debt Relief measures on recoveries
d)Concessions in the norms of financing by NABARD.
e) Constitution of a special Sub-Committee to study in depth the immediate
and long term aspects of loan waiver measures with a view to presenting
memorandum on the subject to Government of India.
in consultation with Government of India with organisations like Rabobank
Netherland, Holland, APRACA, IRU, representatives of the World Bank etc. on
matters pertaining to possibilities of foreign assistance.
out a number of research publications in matters of importance in the area
of Credit, banking, general banking and deposit banking.
Seminars/Workshops/Training Programmes etc. for the chief and senior
executive of State and District Central Cooperative Banks.
the first ever workshop on 'Compu-terisation in Cooperative Banking'. It
paved way for creation of awareness among the SCBs and DCCBs. It stressed
the need and importance of compu-terisation for Management Information
System at the banks level. The Federation further strengthened the member
banks by commissioning the feasibility study on computerisation with the
financial help of NABARD. Arrangements are made to computerise the
activities of the Federation.
a close and cordial relations with Government of India, Reserve Bank of
India, National Bank for Agriculture and Rural Development, respective state
Governments and other financial institutions in order to facilitate the
development of cooperative credit on behalf of the member banks.
a scheme of Performance Awards for its member banks in order to promote a
spirit of healthy competition among the different State Cooperative Banks
and provide scope for further improvements in their better functioning.
represented to Government of India on the Impact of write off agricultural
loans on the Cooperative Credit Structure particularly after the formulation
of Agricultural and Rural Debt Relief Scheme, 1990
to Government of India on the impli-cations of the revision of interest
rates on Agricultural Finance.
the need for a National Cooperative Policy.
the Model Cooperative Societies Act drafted by Choudhary Brahm Prakash
Committee set up by Planning Commission and stressed the need for
implementation of the same.
represented to concerned authorities the implications on the Cooperative
Credit Institutions due to supersession of elected Boards of Management of
Cooperative Credit Institutions and stressed the need for restoring the
principle of democratic control in Cooperative Credit Institutions.
represented to Government of India in introducing the required amendments in
the Banking Regulations Act in order to bring Cooperative Banks within the
purview of Direct Tax (Amendment) Act 1987 particularly to switch over to
the new Accounting year.
to Government of India to get exemption from deduction of Income Tax at
source on interest earned on Securities of State and Central Governments.
in getting exemption for the National Federation of State Cooperative Banks
from payment of Income Tax.
to Reserve Bank of India, NABARD, and State Governments on the need for
audit of SCBs and DCCBs by Chartered Accountants.
represented to Government of India in withdrawing the provision of Tax
Deduction at Source in respect of interest on term deposits with banks.
represented to Government of India in exempting all Cooperative Societies
engaged in business of banking from the purview of Interest Tax Act with a
view to providing support to the Co-operative Sector.
represented from time to time to NABARD to review and change its policy for
Seasonal Agricultural Operations.
communicated to NABARD the adverse effects of Minimum Involvement Criteria
and succeeded in it to set up a review Committee with the representatives of
the Federation and SCBs and later on few relaxations / concessions.
Government of India on the need to compensate the losses incurred under
Public Distribution System for fertilizer distribution to PACS.
to concerned authorities and emphasised the need to evolve suitable steps to
solve the problems of imbalances in the Cooperative Credit Structure and
also ensure the profitability and viability of the Credit Institutions.
Government of India to evolve steps to rationalise the interest rates
structure on advances to ensure the viability of the cooperative credit
represented to RBI and NABARD on some important policy and operational
issues affecting the State Cooperative Banks.
persuaded NABARD to continue to fund all the programmes conducted by College
of Agricultural Banking during the calendar year 1993 which means no tuition
fees are charged from the Cooperative Banks.
on the need for Rationalisation of Interest rate structure for Seasonal
persuaded GOI/RBI/NABARD on the need for providing avenues for Investment of
Surplus Resources/ Ensure reasonable share to SCBs/DCCBs in National Level
RBI on need to review the existing Norms for Licencing of SCBs and DCCBs and
Grant of Licences.
GOI on the need to reconsider the recommendation of Tax Reforms Committee
with particular reference to section.
partially to ensure early settlement of dues under Agriculture and Rural
Debt Relief Scheme -1990.
represented to NABARD to relook into the interest rates on refinance for SAO
for formulation of deregulated policy of interest rates structure both on
Advances and Deposits.
upon the need for setting up of specialised Committees/Task Forces/Expert
Group to work out measures for revamping of cooperative credit structure.
represented to Government of India on the adverse implications of upward
revision in the Minimum Involvement Norms on State Cooperative Banks and
District Central Cooperative Banks.
Government of Sikkim in setting up of Sikkim State Co-operative Bank.
an annual scheme entitled "NAFSCOB CASH AWARD on Cooperation to the Best
Cooperator" with effect from the year 1995-96. This carries a Cash Award of
Rs.50,000/- along with a citation and a shawl.
an Annual Performance Award Scheme entitled "Best Performing State
Cooperative Bank under AIMAS" with effect from the year 1996-97.
an annual scheme entitled "Subhash Yadav Award to the Best Performing
Primary Agricultural Credit Society in the country" with effect from the
Reemphasised the need of Amendments in both
State Cooperative Societies Acts and Multi State
Cooperative Societies Act 1984, so as to eliminate certain restructive
Impressed upon Government of India to extend
experimental Crop Insurance Scheme (ECIS) to all parts of the country with
wider coverage of all crops and introduce modified Comprehensive Crop
Insurance Scheme (MCCIS) covering both loanee and non-loanee farmers and
irrespective of small and marginal farmers and raising the premium to 4
percent of the sum assured for all crops covered at present under CCIS
except for groundnut.
Formulated a draft model investment policy for the cooperative banks.
Persuaded NABARD to
re-examine the policy on MI Norms which includes the need for doing away
with the concept of MI based on ILR and policy of stringent imposition of
penal interest for "Not Complying" MI Norms.
the instance of NAFSCOB, Govt. of India constituted a Task Force to study
the functioning of cooperative banks and to suggest package for
revival/restructuring under the Chairmanship of Shri Jagdish Capoor, Dy.
57. The need and importance of
retaining Section 80P of the Income Tax Act 1961 and restore exemptions made available to cooperative
banks has been forcefully presented.
58. Formulated a draft
proposal on Institutional Protection System (IPS) for the short term
cooperative credit structure in the country to facilitate them to be
independent in their efforts to become viable in the long run and also
enable them to take care of the likely financial losses within the system
without depending too much on the external assistance.
the Website of NAFSCOB .
60. Formulated model KYC,
AML & CFT Programme for SCBs.
61. Successfully persuaded Govt. of India to formulate
Interest Subvention Scheme to facilitate lending of Short Term Credit at 7 percent.
62. Successfully ensured
recapitalisation support to Short Term Cooperative Credit Structure, from Govt of India.
63. Critical Analysis
of the report on ‘Revival Package of Short Term Cooperative Credit Structure'.
64. support to Financial
Intelligence Unit-India (FIU-IND) to develop a ‘Guidance Note on Effective Process of Suspicious Transaction Reports (STRs) Detection and Reporting for Cooperative Banks’, etc.
65. Prepared Model Risk
Management Policy for SCBs.
66. Prepared Model Information
Security Policy of SCBs.
67. Impact Assessment of Kisan
Credit Card with special reference to farmers in Ernakulam District, Kerala.
68. Conducted a study on ‘Impact Assessment of Interest
Subvention Scheme of GoI in Short Term Cooperative Credit Structure’.
69. Instituted Best Performance
Awards to Agricultural Cooperative Staff Training Institutes (ACSTIs) from 2012-13
70. NAFSCOB at the instance of both
the international and Indian partners took lead role in organizing the Round Table Dialogue between Cooperative Banks, Social Finance and Social Initiatives on 03-04 April 2015 at Mumbai.
71. With Collaboration of State
Cooperative Banks, NAFSCOB Organized a Two Day Orientation Programme on Risk Management for the Senior Executives of member State Cooperative Banks at Hyderabad, Navi Mumbai, Bhubaneswar, Delhi and Chandigarh in 2016.