Naya J&K is a witness of the Cooperative Movement’s Renaissance

INTERNATIONAL DESK: In 2017, the Union Territory saw a renaissance in the cooperative movement, with only 988 of them remaining. Since a sum of Rs 313 crore was required to restore these, the eighteen Central Cooperative Banks in the then-state had no Reserve Bank of India (RBI) licenses. Due to unrest, no elections for primary cooperative societies in Kashmir were held.In a nutshell, the cooperative societies in Jammu and Kashmir were in the doldrums.

The Jammu and Kashmir (J&K) Government invested Rs 366 crore on May 30, 2022 to re-capitalize three district Central Cooperative Banks in the Union Territory.The amount under the Recapitalization Package was released and transferred to Jammu Central Cooperative Bank, Anantnag Cooperative Bank, and Baramulla Central Cooperative.

As their liquidity status was poor enough due to their asset degradation, the Reserve Bank of India de-licensed these banks as per the Banking Regulations Act, and the Jammu and Kashmir Cooperatives Department has already received the request for a Rs 238 crore compensation package from the Centre in the last year.These have also been listed on the GeM Portal and are operating their business in a professional manner.

The Cooperative Department approved 64 Farmers Producer Organizations in Jammu and Kashmir in 2021-22 to revive the defunct cooperative societies.The Jammu and Kashmir Cooperative Department has completed 100 percent end-to-end digitization for the first time in the last 70 years.The department has 91 vacancies for Assistant Registrars.

The National Center for Disease Control has so far approved 35 poultry projects by various cooperative societies, with a median cost of Rs 860.92 lakhs.In 2020-21, 859 cooperative societies were audited, and 849 in 2021-22, while elections for around 70% of societies were held recently.The Union Ministry of Cooperatives is closely monitoring all activities to ensure that the cooperative societies in Jammu and Kashmir are back on track.The cooperative movement in Jammu and Kashmir has seen a renaissance in recent years, focusing on the needs of underprivileged segments of the population and providing them with a strong support system to thrive.

Credit lending in agriculture and other areas has increased dramatically, thanks to this increase.Small and marginal farmers are also benefitting from the Mission Youth in Jammu and Kashmir (UT), a vision by Prime Minister Narendra Modis of Sahkar se Samriddhi, Cooperatives, with a focus on agri-marketing, food processing, branding, seeds, and other innovative activities in dairy and handicrafts.The Mission Youth in Jammu and Kashmir is not about restricting cooperatives to just business or credit lending, but rather, a common man is The purpose of cooperative societies has always been to protect and advance the social and economic rights of every individual.

In the past, cooperative societies were viewed as the most effective means of socioeconomic growth for farmers, rural communities, unorganized sector workers, and women.The present dispensation in Jammu and Kashmir is doing its best to address the needs of rural and other areas.

The National Agricultural Cooperative Marketing Federation of India Limited (NAFED), the arm of the agricultural revival movement, is being used by the Union Ministry for Cooperatives in Jammu and Kashmir, as well as in other parts of the country.The Yuva Sahakar Program provides financial support to the newly formed cooperatives, particularly to the innovative organisations.Apart from this, the Central Government and NABARD are also working to include women in the Joint Movement in Jammu and Kashmir Awareness Camps around the Union Territory.They are being approached about their place in the industry.

During awareness campaigns, the Women Credit Cooperative Limited was directed to establish microfinance offices in each village, and the registration of cooperatives is being carried out on the spot.Officers were given instructions to work at ground level to ensure that maximum women are involved in the Cooperative Department.The department is actively involved in the registration of Cooperative Societies in various economic sectors such as agriculture, and dairy.Animals, eggs, machinery, floriculture, medical, educational, consumer sector, banking, micro-credit, women empowerment, transport, vegetable growers, labor, etc.

It has also contributed to the nation-building process with generous financial contributions such as grants, subsidies, etc.In Naya, the Jammu and Kashmir government has contributed more than Rs 3300 lakhs in share capital to various cooperative organizations around the Union Territory. (The Times Bureau)