RBI set up a panel to find ways to strengthen the rural cooperative credit structure. The 7 member Committee headed by NABARD Chairman Prakash Bakshi will; · Review the prevailing Short Term Cooperative Credit Structure (STCCS), focusing on structural hindrances in rural credit delivery system. · Discover ways to strengthen the rural cooperative credit architecture. ..
Cooperative: GK, General Studies and Current Affairs
With the aim to expand the reach of insurance in the country, the Insurance Regulatory and Development Authority (IRDA) has suggested to permit owners of kirana shops, fair price shops, medical shops, petrol pumps, individual Public Call Office (PCO) to sell micro insurance products. As per the IRDA’s exposure draft on Micro Insurance Regulations, the ..
Farmers in Maharashtra who are yet to obtain loans from cooperative banks can now expect them from commercial banks. The state govt will soon take measures to assist Regional Rural Banks (RRBs) utilize the infrastructure of primary agriculture cooperative societies, which would distribute crop loans from commercial banks.To ensure availability of crop loans from commercial ..
A package of around Rs 14,000 Crore approved by the Govt in order to revamp the cooperative credit structure in India. Agriculture Minister Sharad Pawar held that the government has also enacted a law to ascertain democratic, autonomous and professional function of the cooperatives. Govt has sanctioned the National Policy on cooperative aimed at providing ..
On October 29, 2009, India’s Union Cabinet gave its approval to the proposal of Department of Agriculture and Cooperation to introduce the Constitution (One Hundred and Tenth Amendment ) Bill, 2009 in the Winter Session of Parliament for incorporation of special provisions relating to Cooperative Societies in the Constitution. Following are the salient features of ..