National Federation of State Co-operative Bank

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National Federation of State Cooperative Banks• The National Federation of State Cooperative

Banks Ltd. (NAFSCOB),  was established on  19th May 1964 with a view to facilitate the operations of State and Central Cooperative Banks in general and Development of Cooperative Credit in particular.

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National Federation of State Cooperative Banks

Dr. Bijender Singh, MLA Chairman

Shri B.Subrahmanyam Managing Director

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The specific objectives of NAFSCOB are

• To provide a common forum to the member banks to examine the problems of cooperative credit, banking and allied matters and evolve suitable strategies to deal with them.

• Promote and protect the interests of the member banks in all their activities and to give expression to the views of the member banks.

• Co-ordinate with Government of India , Reserve Bank of India respective State Governments, NABARD and other higher financing institutions for the development of cooperative credit on behalf of the member banks.

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Cont.

• Provide research and consultancy inputs to the member banks in order to facilitate them to strengthen their own organizations.

• Organise conferences/seminars/workshops/meeting to share the views of common interest with a view to contribute for better policy decisions.

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The Federation functions with three of its wings, Viz.:

1. Planning Research and Development (PRD)

2. All India Mutual Agreement Scheme (AIMAS)

3. Computer Services Division (CSD)

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Members

• State cooperative bank

• Dist cooperative bank

• Primary agricultural cooperative bank

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The Funds of the Federation shall be raised as under • Annual subscriptions, contributions, services charges etc. at

the rates fixed by the board from time to time from members only. 

• Donations, contributions, grants from members and others and also by way of loans obtained from the financing institutions and others.   

• Income from publications and journals, etc. 

• Grants and loans from the State Governments, the Central Government, National and International Institutions/Organizations.

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Membership at National Level Organizations

NAFSCOB as a National Level Organization is also member of the following National and International Organizations / Agencies:

• National Cooperative Union of India, New Delhi. (NCUI)

• The Indian Society of Studies in Cooperation, Pune. (ISSC)

• National Film and Fine Arts Cooperative Ltd. New Delhi (NAFFAC)

• Indian Banks Association, Mumbai (IBA)04-02-2013

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Cont.

• Indian Tourism Cooperative Ltd. New Delhi (Coop tour)

• Cooperative Bank of India, New Delhi. (COBI) 

• The Indian Merchant's Chamber (IMC)

• Centre for Monitoring Indian Economy Pvt. Ltd. (CMIE) 

• Computer Society of India (CSI)

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ACTIVITIES

• To undertake relevant research studies in Agriculture and Rural Credit from time to time and suggest appropriate strategies.

• To implement the All India Mutual Arrangement Scheme evolved in 1967, in order to facilitate the transfer of funds from one corner of the country.

• To identify, formulate and evaluate the identified projects for the benefit of the member banks.

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Cont.

• To develop a library-cum-documentation center for providing research facilities to cooperatives.

• To disseminate the information on latest technology, policies and any other aspects related to cooperative credit through the Federation's house journal viz. NAFSCOB BULLETIN.

• To undertake any other activity for promoting, protecting and strengthening member banks.

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