Amit Shah Launches New Bank Building in Kheda, Advocates Cooperative Unity

Union Home and Cooperation Minister Amit Shah inaugurated the new building of Kheda District Central Cooperative Bank Limited (KDCC) in Nadiad, Gujarat, via video conferencing on Sunday. He also addressed the 76th Annual General Meeting (AGM) of the bank, urging those involved with cooperative institutions to open accounts in District Cooperative Banks under the "Cooperation Amongst Cooperatives" initiative, according to a PIB release.

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Shah highlighted that Kheda is the district where Amul was founded under Sardar Vallabhbhai Patel's guidance, showcasing "Prosperity through Cooperation" to the world. He noted that despite past discussions about closing KDCC Bank, it has now built a 36,000 square foot facility costing Rs 18.70 crore. Under Prime Minister Narendra Modi's leadership, the nation has embraced the formula of "Sahkaar se Samriddhi aur Samriddhi se Sampoornata," he said.

Focus on Cooperative Initiatives

The Centre is running pilot projects under the new "Cooperation Amongst Cooperatives" initiative in Banaskantha and Panchmahal districts. Shah encouraged those associated with cooperative institutions to open accounts in District Cooperative Banks to build a robust economic structure within the cooperative sector. He asserted that if this mantra succeeds, India would not need external assistance for its cooperative movement.

Shah mentioned that KDCC Bank has introduced loan management, document management systems, and tablet banking for the first time in Gujarat's cooperative banking system. This is considered a significant achievement. Since its inception in 1950, KDCC Bank has served local farmers well and currently boasts a net profit of around Rs 31 crore.

Strengthening Primary Agricultural Credit Societies

Shah emphasized that District Cooperative Banks should help strengthen Primary Agricultural Credit Societies (PACS). The Union government has initiated 20 different measures to fortify PACSs, and District Cooperative Banks should also participate in these efforts. Stronger PACS will further bolster cooperative banks, he added.

There were times when KDCC Bank's future seemed uncertain. However, after obtaining a license in 2012, it now has a reserve fund of Rs 258 crore and deposits amounting to Rs 2,500 crore. Shah pointed out that stronger cooperative institutions could sustain themselves without external financial aid if they adhere to the principles of cooperation.

Shah concluded by stating that KDCC Bank's achievements are a testament to the success of cooperative initiatives under strong leadership. The bank's new building and technological advancements mark significant milestones in its journey towards prosperity through cooperation.