Central Govt Plans to Digitize 8 Lakh Agricultural Cooperative Societies by Jan 30

The Central government is gearing up to modernize and enhance the transparency of the agricultural cooperative sector through computerization. In a significant move, it plans to unveil a national database comprising 8 lakh cooperative societies across the country.

Scheduled for launch on January 30, the Ministry of Cooperation, in collaboration with the National Cooperative Development Corporation (NCDC), is spearheading the initiative to computerize Agriculture and Rural Development Banks (ARDBs) and the Registrar of Cooperative Societies (RCSs) in all states and Union territories.

This long-overdue digitalization initiative is expected to rejuvenate the cooperative sector, according to experts. Dr N Satyanarayan, former head of the National Cooperative Union of India, emphasized the importance of precise data on cooperative loan disbursements. This data will empower management to make informed decisions and assist governments in formulating relevant policies.

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The ambitious project targets the computerization of 1,851 ARDBs in 13 states and Union Territories, linking them with the National Bank for Agriculture and Rural Development (NABARD) through a unified software platform. The implementation of a Common Accounting System and Management Information System aims to standardize business procedures.

Cooperative societies and banks play a crucial role in disbursing loans for various agricultural purposes, including crops, seeds, fertilizers, pesticides, agriculture equipment, land development, and irrigation. The digitalization effort is expected to measure the productivity of loans, identify borrowing trends among farmers, and assess their overall productivity.

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Despite the positive outlook, Satyanarayan acknowledged that feeding precise data into the system poses a huge challenge for the project. In addition to computerization, the Ministry has set its sights on making the functioning of RCS offices paperless.

Union Minister of Cooperation, Amit Shah, highlighted that digitization aligns with Prime Minister Modi's vision of "Sahkar Se Samriddhi," signifying a major step toward a prosperous cooperative sector. The impending digital transformation has received widespread acclaim from experts who believe it will revitalize the ailing cooperative sector and enable more informed decision-making at both management and governmental levels.

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