As a part of 62nd cooperative week celebrations, the Department of Cooperative in collaboration with Baramulla Central Cooperative Bank limited and Kashmir Mercantile Cooperative Bank Sopore organized a function in the premises of Baramulla Central cooperative Bank limited Baramulla today.
The speakers on the occasion highlighted the role of cooperatives in the Socio-economic upliftment of the members working under Cooperative fold.
It was given out in the meeting that 82 Cooperative Societies of different kinds are functional in the district, providing services to the common people by proving essential commodities and two Cooperative Banks with 40 bank branches are providing Banking facilities to the Cooperative societies in particular and public in general.
The resource persons while speaking on the topic financial Inclusion –Cooperative Issues and challenges, laid stress on the fact that it is the need of the hour to initiate process of ensuring access to financial services timely and adequately for the weaker sections and low income groups at an affordable cost. This can be achieved by opening new branches in rural areas and in this regard commercial viability/financially can be achieved through primary Cooperative societies which are based in each and every village of the district. It was mentioned that the biggest challenge is altering mind set of Banks, policing weaker Cooperatives and Banks.