Amit Shah Announces First CRCS Regional Office in Pune
Union Minister for Cooperation Amit Shah has announced the establishment of India’s first regional office of the Central Registrar of Cooperative Societies (CRCS) in Pune. This initiative aims to strengthen the cooperative banking sector and provide enhanced facilities for banks, ensuring smoother operations without unnecessary hurdles.
The announcement was made during the valedictory function of the Diamond Jubilee celebrations of Janata Sahakari Bank. The event saw the presence of Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Ministers Eknath Shinde and Ajit Pawar, Union Minister of State for Cooperation Murlidhar Mohol, and Minister for Higher and Technical Education Chandrakant Patil, along with senior bank officials.
CRCS Regional Offices to Empower Cooperative Banks
Amit Shah credited Union Minister of State for Cooperation Murlidhar Mohol for spearheading the initiative of CRCS regional offices and stated that under his leadership, more such offices will be opened across the country. He added that this move will empower scheduled cooperative banks and enhance their ability to compete with nationalized banks.
To further strengthen cooperative banks, Shah revealed that a committee has been formed to improve regulations and implement innovative solutions in the sector.
Janata Sahakari Bank’s Legacy and Future Vision
In his address, Union Home Minister and Minister of Cooperation Amit Shah said that the trust earned by Janata Sahakari Bank is a matter of pride for all of us. He said that Janata Sahakari Bank was established by revered Shri Moropant Pingale, a prominent thinker and renowned RSS worker, who lived a selfless life and never backed out of any challenge. Shah said that the seed sown by Moropant in the form of establishment of this bank has now grown into a huge banyan tree, connecting 10 lakh people.
Union Home Minister and Minister of Cooperation said that Prime Minister Narendra Modi has made two resolutions before the nation – to make India a fully developed nation by 2047 and to make the country a 5 trillion-dollar economy by 2027. He mentioned that without the development of the cooperative sector, these resolutions will remain incomplete. He emphasized that if the development of every individual and prosperity in every home do not take place, then these two resolutions could remain unfulfilled. Shah said that providing work to every person according to their abilities and connecting them with the country’s development to make every family prosperous is only possible through a cooperative movement.
Amit Shah said that embracing the newer technologies by the cooperatives is imperative for continued growth. He said that there are a total of 1465 Urban Cooperative Banks in the country out of which 460 are in Maharashtra alone. He said that an umbrella organization for Urban Cooperative Banks, National Urban Co-operative Finance and Development Corporation (NUCFDC), was under consideration for a long time and now the work has been completed to mobilize an amount of Rs. 300 crore for this organization. Shah said that this umbrella organization will be able to provide all kinds of support to the cooperative banks. He said that for the first time, a clearing house for Cooperative Banks has been envisaged in the country which is set to be completed in the next 2 years.
Union Home Minister and Minister of Cooperation said that under the leadership of Prime Minister Modi, the Ministry of Cooperation has taken several steps to enhance the business of urban cooperative banks. He mentioned that Aadhaar-enabled payment system has been opened for cooperative banks, the limits for gold loans and housing loans have been enhanced, and a provision for one-time loan settlement has been introduced for cooperative banks. He further added that after the formation of an umbrella organization, clearing for any cooperative bank located anywhere in the country will be done through cooperative banks themselves.
Shah also stated that to address the growing competition from nationalized banks, small financing banks, and NBFCs, the Government is setting up a monitoring committee to strengthen governance and incorporate technological innovations in Cooperative Banks.
Shah remarked that the essence of cooperation is pooling together small amounts of capital to achieve something large. He highlighted that Janata Sahakari Bank is a prime example of this, as it has made the concept of ‘big bank for small people’.
He recalled an internal discussion with his private secretary before attending the event, stating, “Usually, before I attend a bank-related event, my secretary checks the bank’s financial balance sheet. But this time, I told him not to inquire. I knew that this bank was established by the volunteers of the Rashtriya Swayamsevak Sangh (RSS), and their financial balance sheet must be strong.”
Amit Shah said that after its establishment in 1949, Janata Sahakari Bank became a scheduled cooperative bank in 1988, adopted core banking in 2005, became a multi-state scheduled cooperative bank in 2012, and also got the honor of starting the country’s first cooperative demat institution. He mentioned that with 71 branches, 2 extension counters, 1,75,000 members, and over 10 lakh satisfied customers, this is not just a bank, but a large family.
He stated that today, the bank’s deposit exceeds ₹9,600 crore, which reflects the trust people have in the bank. Shah also highlighted that Janata Sahakari Bank has never backed out, be it in terms of social service, during Latur earthquake, or the Kolhapur-Sangli floods, or the COVID-19 pandemic.
The establishment of the CRCS regional office in Pune is poised to enhance the operational efficiency of cooperative banks, enabling them to better serve their members and contribute to the nation’s economic growth.
