Financial inclusion in rural areas necessary to improve and develop cooperative sector

Workshop on continuous financial inclusion and cooperatives improvement

ajit8.4.16Bhopal, April 8, 2016 (Abdul Ahad Farhan):  Financial inclusion in rural areas is necessary to improve and develop cooperative sector. This was stated by Principal Secretary Cooperatives Mr. Ajit Kesari at high level “Workshop on Continuous Financial Inclusion and Cooperatives Improvement” here today. Experts from Central and State government, commercial & cooperative banks, universities and non government organisations attended the workshop. Leading economists, financial advisers of the country and representatives of international agencies were also present on the occasion.

Mr. Kesari informed that there are over 4,500 cooperatives societies in the state. Besides, the state has also thrift & credit societies, district cooperative central banks and Nagrik Sahakari Banks. Former Minister and Founder of Smriti Bank Mr. Narendra Nahata gave suggestions for progress of Nagrik Sahakari Banks. Chief Officer Mr. Hemnani said that services rendered with good conduct and behaviour will ensure cooperative banks’ success.  Mr. Sooraj Kumar of NITI Foundation informed that a survey has revealed that mindset of families and beneficiaries living in rural and remote areas has undergone considerable change.

Madhya Pradesh has made more progress than all other states and Mukhyamantri Yuva Udyami Yojana has been implemented effectively. Mobile and community radio are the mediums which can not only enhance awareness, but also capacity. Joint Secretary in PMO Mr. Anurag Jain informed that he had given worthwhile contribution in computerization in Madhya Pradesh when he was Secretary to CM and Information Technology.

He said that financial inclusion in cooperative sector of Madhya Pradesh will succeed only when all primary credit cooperative societies go online.Cambridge University’s Professor Shailja Fenel stressed the need for more researches on the subject. RBI’s Mr. Ajit Kumar informed about fiscal literacy. He said that RBI’s policy aims at fiscal literacy in an integrated way. British High Commission’s Senior Advisor Mr. Yash Mehra lauded efforts of Madhya Pradesh and NITI Foundation. At the conclusion of the workshop, all participants assured to ensure continuous financial inclusion in mission mode.