Devendra Fadnavis: Committee to Be Formed to Amend Cooperative Act and Strengthen Sector

In a significant move aimed at strengthening Maharashtra’s cooperative sector, Chief Minister Devendra Fadnavis announced that the state government will soon form a committee to recommend necessary amendments to the Cooperative Act. The objective is to align the Act with contemporary needs and empower cooperative institutions.

Fadnavis made the announcement while addressing a seminar on “Empowerment of Cooperatives and State Government Policy” held at the Yashwantrao Chavan Pratishthan in Mumbai.

The event was organized to mark several milestones, including the ‘Deccan Uprising’, ‘Muhurtamedh of Cooperatives’, 150 Years of Post-Century Golden Anniversary, and International Cooperative Year 2025. The program saw participation from several key leaders and dignitaries, including Deputy Chief Ministers Eknath Shinde and Ajit Pawar, Union Minister Nitin Gadkari, Sharad Pawar, Bank Administrator Vidyadhar Anaskar, Dilip Dighe, Praveen Darekar, and numerous officials from the cooperative sector and government.

Highlighting the historical roots of the movement, Fadnavis said, “The uprising against moneylenders in Supe village, Pune district, on May 12, 1875, is considered the beginning of India’s cooperative movement. As we mark its 150th anniversary, it is time to re-evaluate and reform the sector.”

He praised the progress of cooperative banks, especially their adoption of core banking systems and modern technologies, which have enabled them to remain resilient even during the era of fiscal consolidation.

Fadnavis also lauded Prime Minister Narendra Modi’s initiative to establish a separate Ministry of Cooperation, which has significantly boosted the sector. He noted that with the help of the World Bank, training programs are being implemented for cooperatives in 10,000 villages, helping them develop sustainable business models.