Daijiworld Media Network - Udupi (JD)

Udupi, Jul 8: Sahakara Bharathi, Karnataka Souharda Sahakari lauded the decision of the central government to set up an independent ministry for the cooperative sector.

Speaking at the press meet Manjunath SK, director, Karnataka Souharda Sahakari said, "I congratulate the central government for setting up an independent ministry for the co-operative sector. Amith Shah has been given the charge to head the ministry. This will bring professionalism in the co-operative sector. This is a step that would fulfil the idea of AatmaNirbhar Bharat in rural India. Co-operative banks have been instrumental financial institutions for rural people. 40% of the rural population depends upon cooperative banking. The creation of the ministry will also ensure uniform rules and regulations. As RBI and NABARD will take control over the co-operative banks this will also ensure professionalism" he said.

"India will become a cradle for co-operative sector in the world. The creation of ministry will also result in making the cooperative sector a non-political sector, as this would concentrate more on uniformity. Many provisions of the GST and other laws are not in line with the co-operative banks, these issues will also be taken care of in the upcoming days by the central ministry" he added.

Addressing the media Sadashiva Shetty, director, Karnataka Souharda Sahakari said, "Sahakara Bharathi had demanded an independent ministry for the co-operative sector from the beginning. We had even demanded cleaning up of the co-operative sector from the political clutches which will also be fulfilled by this new ministry," he said.

Bhaskar Kamath, president, Udupi district Souharda Sahakari, Vijay, Prashanth were present during the press meet.