Co-op societies balance pvt, public sectors: Expert

Panaji: Offering insights into the socio-economic impact of the cooperative movement, economist Vasant Jugale said the cooperative sector offers a “third way”, or middle ground, for India’s rural development.Jugale, an agriculture economist and cooperative sector expert, said that the cooperative movement balances private enterprise with state control. He was speaking at the foundation day of National Bank for Agriculture and Rural Development (Nabard).Introducing the concept of coopreneurs, or entrepreneurs working in the cooperative sector, Jugale stressed the need to strengthen cooperatives. RBI regional director Prabhakar Jha and chairperson of the administrators overseeing Goa State Cooperative Bank, Santosh Kenkre, agreed on this.

They also called for enhancing financial inclusion and driving sustainable rural development in Goa.Nabard felicitated three best-performing multipurpose primary agricultural credit societies — Sattari Taluka Farmers Service, Shri Krishna Vividh Karyakari Sahakari Seva, and Shri Mahalaxmi Vividh Karyakari Sahakari Seva for excellence in governance, credit delivery, and member services.