06 AUG 2025 | New Delhi
The Government has announced that Dairy and Fishery Cooperative Societies can now be appointed as Bank Mitras of District Central Cooperative Banks (DCCBs) and State Cooperative Banks (St.CBs). This step aims to promote financial inclusion and expand banking services in rural and underserved areas.
To support this initiative, Micro-ATMs are being provided to these cooperative societies with assistance from the National Bank for Agriculture and Rural Development (NABARD). These devices will enable doorstep digital financial services, especially in remote areas.
Pilot Project to Nationwide Campaign
The move is part of a broader effort under the ‘Cooperation among Cooperatives’ initiative:
- A pilot project was launched on 12 July 2023 in the Banaskantha and Panchmahal DCCBs of Gujarat.
- The project aimed to encourage all financial transactions of Primary Dairy Cooperative Societies (PDCS) with Rural Cooperative Banks.
- After the success of the pilot, the campaign was rolled out across all districts of Gujarat from 15 January 2024.
- A Standard Operating Procedure (SOP) for nationwide implementation was issued on 19 September 2024.
Focus on Women and Backward Classes
The Bank Mitra Cooperative Societies, primarily PDCS, are expected to play a significant role in the empowerment of women and backward communities by:
- Issuing RuPay Kisan Credit Cards to members
- Providing last-mile banking services
- Enhancing access to formal financial systems through Micro-ATMs
The initiative aims to build a more inclusive, self-reliant, and digitally enabled cooperative sector, especially in rural India.
This information was shared by Union Minister of Cooperation, Shri Amit Shah, in a written reply in the Rajya Sabha.
Source: PIB
