Bhubaneswar.Aug. 12 (UDN):Odisha has 8,667 registered cooperative societies, of which 8,063 are currently functional, according to the latest data available on the National Cooperative Database (NCD) as of July 15.
The figures were shared by Union Home Minister and Minister of Cooperation Amit Shah in a written reply in the Lok Sabha.
The data underlines the continuing importance of the cooperative sector in Odisha, particularly in rural areas, where cooperative institutions play a significant role in agriculture, credit, dairy and other economic activities.
Centre Steps Up Support for Cooperatives
The Centre has been implementing a range of measures to strengthen cooperatives and improve their access to finance, technology and banking services. The National Cooperative Development Corporation (NCDC), a statutory body under the Ministry of Cooperation, provides financial assistance to cooperative organisations across the country, including those in Odisha.
The government has also placed greater emphasis on women-led and tribal cooperatives. Women cooperatives can avail themselves of financial assistance through NCDC schemes such as Swayam Shakti Sahakar Yojana, Nandini Sahakar and Yuva Sahakar.
These initiatives seek to promote entrepreneurship, strengthen cooperative enterprises and create additional avenues for women’s economic participation.
PACS Computerisation Gains Momentum
Modernisation of Primary Agricultural Credit Societies (PACS) remains another major focus of the Centre’s cooperative reforms.
The Centrally Sponsored PACS Computerisation Project, launched in 2022, aims to bring functional PACS onto a common ERP-based national software platform. The move is intended to standardise operations, improve transparency and efficiency, and strengthen service delivery at the grassroots level.
The project was initially approved for 63,000 PACS with a financial allocation of ₹2,516 crore. Its coverage has since been expanded to 79,630 PACS, with the financial outlay raised to ₹2,925.39 crore.
Push to Modernise Cooperative Banking
Since the Ministry of Cooperation was established on July 6, 2021, the Centre has introduced several measures aimed at expanding and modernising cooperative banking, particularly in rural areas.
Among the measures are the removal of monetary limits on gold loans offered by cooperative banks and permission for one-time settlement (OTS) of outstanding loans.
The individual housing loan limit for Rural Cooperative Banks has also been raised to ₹75 lakh. At the same time, the government is promoting the Aadhaar Enabled Payment System (AePS) to facilitate doorstep banking and improve access to financial services in rural areas.
State Cooperative Banks (StCBs) and District Central Cooperative Banks (DCCBs) have been notified as Member Lending Institutions under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.
For dairy cooperatives, the Priority Sector Lending limit has been increased from ₹5 crore to ₹10 crore, potentially widening access to institutional credit.
Technology and Customer Protection
Technology adoption is also forming a key part of the cooperative banking reforms. The government has established Sahakar Sarathi to provide technology-related services to Rural Cooperative Banks.
Rural Cooperative Banks have additionally been brought under the RBI Integrated Ombudsman Scheme, giving customers access to an additional mechanism for resolving grievances.
Eligible StCBs and DCCBs have been permitted to open new branches through the automatic route, while certain financial and business authorisation requirements for cooperative banks have also been relaxed.
Another notable reform is the removal of the earlier ₹50-crore net-worth requirement for Rural Cooperative Banks seeking to become corporate agents for insurance distribution.
Focus on a Stronger Cooperative Network
With more than 8,000 functional cooperative societies in Odisha, the state remains an important part of the country’s cooperative network.
The Centre’s latest measures indicate a broader push to make cooperatives more technology-driven, financially stronger and better integrated with formal banking and credit systems. The government says these reforms are part of its wider “Sahakar se Samriddhi” vision aimed at strengthening the cooperative ecosystem and expanding its contribution to rural economic development.