Amit Shah Inaugurates National Urban Cooperative Bank

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26 Mar, 24 10:24
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Amit Shah Inaugurates National Urban Cooperative Bank

Udaipur: The Minister of HomeAffairsandCooperation, Amit Shah, inaugurated the National Urban Cooperative Finance and Development Corporation, the umbrella organization for urban cooperative banks, in New Delhi. During the event, Shah expressed strong support for fostering collaboration within the cooperative sector. In his address, Shah stated that until cooperatives empower and move forward together, progress will be limited.He highlighted the establishmentoftheNationalUrban Cooperative Finance and DevelopmentCorporationafter nearly two years of struggle, considering it an auspicious day for all. Shah emphasized that PrimeMinisterNarendraModi, after 75 years of independence, has revitalized the cooperative sector by establishing a dedicated Ministry of Cooperation.Heunderscored that the cooperative movement, which struggled for almost750years,nowhas the support of the government, ensuring swift progress and contributingsignificantly tothe nation's economy. Shah also mentioned the effort to transform the cooperative movement into a people's movement. He suggested that in a vast country like India, the parameter for development should not solely be based on numbers but rather on the active participation of people. The formation of the umbrella organization was deemed essential, representing a new beginning for self-regulation. Shah predicted that the establishment of this organization would significantly enhance the development of urban cooperative banks acrossthecountry.Hestressed the importance of upgrading andadheringtoallregulations set by the Reserve Bank of India for our credibility.

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