Achievements

3. Persuaded Government of India to adopt favourable policy regarding contribution to the agricultural credit stablilisation fund of the member banks.

4. Successfully persuaded Government of India to abolish interest tax on the Income of the cooperative banks.

5. Successful efforts to ensure to extend the provision of section-13 of the Income-Tax Act 1961 to cooperative banks.

6. Initiated organization of National Conferences of District Central Cooperative Banks (DCCBs) and paved the way for exchange of views among cooperative bankers on important operational and policy matters.

7. Persuaded Industrial Development Bank of India to approve in principle the proposal for extension of refinance to Urban and DCCBs 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 requisite notification.

8. Set up a Review and Action Committee on North Eastern Region (RACNER) to make special study of the problems of the cooperative credit movement in the region and initiate developmental programmes in the sphere of Agricultural/cooperative credit, Marketing etc.

9. Made an impressive presentation to the Agriculture Credit Review Committee (ACRC)-Senior Expert Group constituted by the Reserve Bank of India under the chairmanship of Dr A.M. Khusro on the need to address the issues confronting the cooperative banks, more particularly on rationalization of rates of interest, disadvantages of delayering, advantages of continuation of 3 Tier cooperative credit structure, to bridge the systemic gap in cooperative banking system by setting up of National Cooperative Bank of India.

10. Interacted, in consultation with Government of India, with organisations like Raboban Foundation, Rabobank Netherland, APRACA, IRU, representatives of the World Bank etc. on matters pertaining to possibilities of foreign assistance, towards strengthening of Cooperatives.

11. Brought out a number of research publications in matters of importance in the area of Credit, banking, general banking and deposit banking.

12. Conducted the first ever workshop on 'Computerisation in Cooperative Banking'. It paved way for creation of awareness among the SCBs and DCCBs. It stressed the need and importance of computerisation for Management Information System at the banks level. NAFSCOB 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 NAFSCOB.

13. For the first time in the country, NAFSCOB instituted a Scheme of Performance Awards since 1982-83 in order to promote a spirit of healthy competition among the member State Cooperative Banks and provide scope for further improvements in their better functioning. This has inspired other institutions to replicate similar exercises.

14. Effectively represented to Government of India on the Impact of write off of agricultural loans on the Cooperative Credit Structure particularly after the formulation of Agricultural and Rural Debt Relief Scheme, 1990.

15. Emphasised/persuaded Government of India about the need for a National Cooperative Policy.

16. Examined 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.

17. The adverse implications of supersession of elected Boards of Management of Cooperative Credit Institutions has been very well documented, made wider publicity and stressed the need for restoring the principle of democratic control in Cooperative Credit Institutions. Partially succeeded.

18. Successfully 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.

19. Ensured exemption for the National Federation of State Cooperative Banks from payment of Income Tax, under Mutuality clause.

20. Successfully impressed upon Reserve Bank of India, NABARD, and State Governments on the need for audit of SCBs and DCCBs by Chartered Accountants.

21. Successfully represented to Government of India in withdrawing the provision of Tax Deduction at Source in respect of interest on term deposits with banks.

22. Successfully 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.

23. Represented Government of India on the need to compensate the losses incurred under Public Distribution System for fertilizer distribution to PACS.

24. Successfully persuaded NABARD to continue to fund all the training programmes designed for cooperative banks and conducted by College of Agricultural Banking during the calendar year 1993,without levying tuition fees are charged from them.

25. Represented effectively on the need for Rationalisation of Interest rate structure for Seasonal Agricultural Operations.

26. Successfully persuaded GOI/RBI/NABARD on the need for providing avenues for Investment of Surplus Resources/ Ensure reasonable share to SCBs/DCCBs in National Level Consortium Arrangements.

27. Represented RBI on need to review the existing Norms for grant of Licences to SCBs and DCCBs and consider to grant licences to all eligible SCBs and DCCBs.

28. Succeeded significantly to ensure early settlement of dues (upto 95%) under Agriculture and Rural Debt Relief Scheme -1990.

29. Instrumental in formulation of deregulated policy of interest rates structure both on Advances and Deposits.

30. Impressed upon the need for setting up of specialised Committees/Task Forces/Expert Group to work out measures for revamping of cooperative credit structure.

31. Assisted Government of Sikkim and played major role in setting up of Sikkim State Co-operative Bank.

32. Instituted 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.

33. Instituted an Annual Performance Award Scheme entitled "Best Performing State Cooperative Bank under AIMAS" with effect from the year 1996-97 (presently discontinued).

34. Instituted an annual scheme entitled "Subhash Yadav Award to the Best Performing Primary Agricultural Credit Society in the country" with effect from the year 1998-99.

35. 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.

36. Formulated a draft model investment policy for the cooperative banks.

37. 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.

38. At 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. Governor, RBI.

39. 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, but unsuccessfully, presented

40. 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.

41. Launched the Website of NAFSCOB.

42. Formulated model KYC, AML & CFT Programme for SCBs.

43. Successfully persuaded Govt. of India to formulate Interest Subvention Scheme to facilitate lending of Short Term Credit at 7 percent.

44. Put up excellent efforts to ensure recapitalisation support to Primary Agricultural Cooperative Societies, based on the recommendations of Task Force under the chairmanship of Prof. A. Vaidyanathan (AV-1).

45. 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.

46. Prepared Model Risk Management Policy for SCBs.

47. Prepared Model Information Security Policy of SCBs.

48. Instituted Best Performance Awards to Agricultural Cooperative Staff Training Institutes (ACSTIs) from 2012-13.

49. NAFSCOB at the instance of both the international and Indian partners took lead role in organizing the Round Table Dialogue between Cooperative Banks, Social Solidarity Economic Enterprises (SSEs), Social Finance and Social Initiatives on 03-04 April 2015 at Mumbai.

50. Instituted an Annual Performance Award Scheme entitled Best Performance Awards to District Central Cooperative Banks (DCCBs) since 2008-09.

51. Impressed upon the Govt of India,Reserve Bank of India and NABARD to announce a An appropriate Regulatory package to Rural Cooperative Banks to facilitate operations during the adverse conditions created by spread of COVID-19.

52. Successfully impressed upon NABARD to extend Special Liquidity Facility(SLF) with affordable terms and conditions including rate of Interest on Refinance under SLF

53. Representations submitted to Union Finance Minister , Union Minister for MSMEs, Reserve Bank of India and SIDBI to consider Rural Cooperative Banks consider as Member Lending Institutions (MLIs)