Cooperative Life Insurance Company to bolster cooperative sector growth

Key facts

• The Ministry of Cooperation (MoC) announced the establishment of a cooperative life insurance company to boost the growth of cooperatives in the insurance sector.
• Bharat Taxi is planned for expansion into 500 cities over the next two years.
• The MoC is establishing 'Tribhuvan' Sahkari University at Anand in Gujarat to address human resource problems.
• 50,000 Primary Agriculture Cooperative Societies (PACS) are being transformed into e-PACS to facilitate digital empowerment.
• A Memorandum of Understanding (MoU) was signed between Bharatiya Beej Sahakari Samiti Ltd (BBSSL) and Indian Council of Agricultural Research (ICAR) to strengthen seed systems.
• Infrastructure projects include the transfer of 135 godowns with a capacity of 75,000 tonnes, the inauguration of 85 godowns, and the laying of the foundation stone for 47 grain storage godowns.
• Groundbreaking (Bhoomi Pujan) was conducted for Sahakar Van by Amul and National Cooperative Consumers Federation of India (NCCF), and tissue culture facilities of BBSSL at Barabanki in Uttar Pradesh and Jalgaon in Maharashtra.
• The MoC released model bye-laws for dairy cooperative societies and a book highlighting the ministry's achievements over the last five years.
• India has approximately 8.5 lakh cooperatives with more than 30 crore members.