Shaji K. V., Chairman, National Bank for Agriculture and Rural Development (NABARD), on Saturday urged the State government to strengthen the governance structure of the Kerala Bank further and ensure operational autonomy for the bank’s growth.
Mr. Shaji was speaking at a seminar on ‘Cooperatives in Kerala’ organised as part of the Keraleeyam 2023 celebrations of the State government.
Banking is a highly specialised activity, and trust is vital to it. It should be subject to laws and regulations to ensure sustainability, financial health and protect the interests of the depositors, he observed. Regulatory aspects cannot be ignored if Kerala Bank is to grow, he said. He also touched upon the advantages of developing Farmer Producer Organisations (FPO) in the cooperative sector.
Speaking on the theme ‘Reimagining cooperation in Kerala,’ Ganesh Gopal, lead, entrepreneurship development, International Cooperative Alliance-Asia and Pacific, underscored the need for diversification. Cooperatives in Kerala should explore the possibilities in emerging domains and sunrise sectors, moving beyond credit and the primary sector, according to him.
Mikel Lezamiz, director of cooperative dissemination, Mondragon Corporation, threw light on the history and operations of Mondragon, a federation of 86 cooperatives in Spain’s Basque region.
Minister for Cooperation V. N. Vasavan chaired the session, Shambu Prasad, Institute of Rural Management, Rameshan Paleri, chairman, Uralungal Labour Contract Co-Operative Society Ltd, Kerala Bank president Gopi Kottamurickal, and K. R. Vijaya, chairperson, Kerala Women Co-operative Federation Ltd. (Vanitha Fed), spoke.
