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During the last few years, the Federation played an important role in the following matters: 1. Played a significant role towards extending some of the provisions of the banking regulations Act to the cooperative banks. 2. Actively supported the idea of extending deposit insurance scheme to the cooperative banks. 3. Persuaded Government of India to adopt favourable policy regarding contribution to the agricultural credit stablilisation fund of the member banks. 4. Successfully persuaded Government of India to abolish interest tax on the earnings of the cooperative banks. 5. Made successfully efforts in extending the provision of section-13 of the Income-Tax Act 1961 to cooperative banks. 6. Organised conferences of district central cooperative banks in the country and paved the way for exchange of views among cooperative bankers on important operational and policy matters. 7. Persuaded Industrial Development Bank of India to approve in principle the proposal for extension of refinance to urban and district central cooperative banks to support SSI sector and pursued the matter further with Government of India at the level of Hon'ble Union Finance Minister to ensure issue of requisite notification. 8. Set up a Review and Action Committee on North Eastern Region to make special study of the problem's of the cooperative credit movement in the region and initiate developmental programmes in the sphere of Cooperative Credit, marketing etc. 9. Took up the issue of some State and Central District cooperative banks facing the problem of surplus funds to deploy such of their surplus resources through consortium financing arrangements for better income earning, types of business like fertilizer and distribution, working capital requirements of manufacturing and marketing units etc. 10. Effectively presented the adverse implications of the administered interest rate structure both on Advances and Deposits. 11. Presented to Senior Expert Group constituted by the Reserve Bank of India the cooperative banks views on the various aspects of rural credit, including a detailed memorandum on such matters and the case for formation of National Cooperative Bank of India. 12. Has been taking up with the Hon'ble Union Finance Minister important policy and operational issues before the presentation of Budget every year.
· Took
up the following important issues with the concerned authorities, including
the Government of India. 13. Interacted in consultation with Government of India with organisations like Rabobank Netherland, Holland, APRACA, IRU, representatives of the World Bank etc. on matters pertaining to possibilities of foreign assistance. 14. Brought out a number of research publications in matters of importance in the area of Credit, banking, general banking and deposit banking. 15. Conducted Seminars/Workshops/Training Programmes etc. for the chief and senior executive of State and District Central Cooperative Banks. 16. Conducted the first ever workshop on 'Compu-terisation in Cooperative Banking'. It paved way for creation of awareness among the SCBs and DCCBs. It stressed the need and importance of compu-terisation for Management Information System at the banks level. The Federation further strengthened the member banks by commissioning the feasibility study on computerisation with the financial help of NABARD. Arrangements are made to computerise the activities of the Federation. 17. Maintained a close and cordial relations with Government of India, Reserve Bank of India, National Bank for Agriculture and Rural Development, respective state Governments and other financial institutions in order to facilitate the development of cooperative credit on behalf of the member banks. 18. Instituted a scheme of Performance Awards for its member banks in order to promote a spirit of healthy competition among the different State Cooperative Banks and provide scope for further improvements in their better functioning. 19. Effectively represented to Government of India on the Impact of write off agricultural loans on the Cooperative Credit Structure particularly after the formulation of Agricultural and Rural Debt Relief Scheme, 1990 20. Represented to Government of India on the impli-cations of the revision of interest rates on Agricultural Finance. 21. Emphasised the need for a National Cooperative Policy. 22. Examined the Model Cooperative Societies Act drafted by Choudhary Brahm Prakash Committee set up by Planning Commission and stressed the need for implementation of the same. 23. Effectively represented to concerned authorities the implications on the Cooperative Credit Institutions due to supersession of elected Boards of Management of Cooperative Credit Institutions and stressed the need for restoring the principle of democratic control in Cooperative Credit Institutions. 24. Successfully represented to Government of India in introducing the required amendments in the Banking Regulations Act in order to bring Cooperative Banks within the purview of Direct Tax (Amendment) Act 1987 particularly to switch over to the new Accounting year. 25. Represented to Government of India to get exemption from deduction of Income Tax at source on interest earned on Securities of State and Central Governments. 26. Succeeded in getting exemption for the National Federation of State Cooperative Banks from payment of Income Tax. 27. Represented to Reserve Bank of India, NABARD, and State Governments on the need for audit of SCBs and DCCBs by Chartered Accountants. 28. Successfully represented to Government of India in withdrawing the provision of Tax Deduction at Source in respect of interest on term deposits with banks. 29. Successfully represented to Government of India in exempting all Cooperative Societies engaged in business of banking from the purview of Interest Tax Act with a view to providing support to the Co-operative Sector. 30. Successfully represented from time to time to NABARD to review and change its policy for Seasonal Agricultural Operations. 31. Effectively communicated to NABARD the adverse effects of Minimum Involvement Criteria and succeeded in it to set up a review Committee with the representatives of the Federation and SCBs and later on few relaxations / concessions. 32. Represented Government of India on the need to compensate the losses incurred under Public Distribution System for fertilizer distribution to PACS. 33. Represented to concerned authorities and emphasised the need to evolve suitable steps to solve the problems of imbalances in the Cooperative Credit Structure and also ensure the profitability and viability of the Credit Institutions. 34. Represented Government of India to evolve steps to rationalise the interest rates structure on advances to ensure the viability of the cooperative credit institutions. 35. Effectively represented to RBI and NABARD on some important policy and operational issues affecting the State Cooperative Banks. 36. Successfully persuaded NABARD to continue to fund all the programmes conducted by College of Agricultural Banking during the calendar year 1993 which means no tuition fees are charged from the Cooperative Banks. 37. Represented on the need for Rationalisation of Interest rate structure for Seasonal Agricultural Operations. 38. Successfully persuaded GOI/RBI/NABARD on the need for providing avenues for Investment of Surplus Resources/ Ensure reasonable share to SCBs/DCCBs in National Level Consortium Arrangements. 39. Represented RBI on need to review the existing Norms for Licencing of SCBs and DCCBs and Grant of Licences. 40. Persuaded GOI on the need to reconsider the recommendation of Tax Reforms Committee with particular reference to section. 41. Succeeded partially to ensure early settlement of dues under Agriculture and Rural Debt Relief Scheme -1990. 42. Effectively represented to NABARD to relook into the interest rates on refinance for SAO operations. 43. Contributed for formulation of deregulated policy of interest rates structure both on Advances and Deposits. 44. Impressed upon the need for setting up of specialised Committees/Task Forces/Expert Group to work out measures for revamping of cooperative credit structure. 45. Effectively represented to Government of India on the adverse implications of upward revision in the Minimum Involvement Norms on State Cooperative Banks and District Central Cooperative Banks. 46. Assisted Government of Sikkim in setting up of Sikkim State Co-operative Bank. 47. Instituted an annual scheme entitled "NAFSCOB CASH AWARD on Cooperation to the Best Cooperator" with effect from the year 1995-96. This carries a Cash Award of Rs.50,000/- along with a citation and a shawl. 48. Instituted an Annual Performance Award Scheme entitled "Best Performing State Cooperative Bank under AIMAS" with effect from the year 1996-97. 49. Instituted an annual scheme entitled "Subhash Yadav Award to the Best Performing Primary Agricultural Credit Society in the country" with effect from the year 1998-99. 51. Reemphasised the need of Amendments in both State Cooperative Societies Acts and Multi State Cooperative Societies Act 1984, so as to eliminate certain restructive provisions. 52. Impressed upon Government of India to extend experimental Crop Insurance Scheme (ECIS) to all parts of the country with wider coverage of all crops and introduce modified Comprehensive Crop Insurance Scheme (MCCIS) covering both loanee and non-loanee farmers and irrespective of small and marginal farmers and raising the premium to 4 percent of the sum assured for all crops covered at present under CCIS except for groundnut. 53. Brought out a report on model investment policy for the cooperative banks. 54. Effectively communicated to NABARD to re-examine the policy on MI Norms which includes the need for doing away with the concept of MI based on ILR and policy of stringent imposition of penal interest for "Not Complying" MI Norms. 56. At the instance of NAFSCOB, Govt. of India constituted a Task Force to study the functioning of cooperative banks and to suggest package for revival/restructuring under the Chairmanship of Shri Jagdish Capoor, Dy. Governor, RBI. 57. Appealed to Hon'ble Prime Minister of India impressing upon the need to retain Section 80P of the Income Tax Act 1961. 58. Prepared the proposal on Institutional Protection System (IPS) for the short term cooperative credit structure in the country to facilitate them to be independent in their efforts to become viable in the long run and also enable them to take care of the likely financial losses within the system without depending too much on the external assistance. 59. Launched the Website of NAFSCOB .
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