Rural Cooperative Banks Initiatives Overview

Questions and Answers

What was the initial corpus amount of the Cooperative Development Fund (CDF) when it was created?

₹5 crore

₹10 crore (correct)

₹20 crore

₹15 crore

Which intervention was NOT included as a part of the Cooperative Development Fund (CDF) initiatives?

Financial Audit Programs (correct)

Business Diversification and Product Innovation Cell

Comprehensive Support Plan for NER states

PACS Computerization

As of 31 March 2024, what was the cumulative expenditure incurred under the Cooperative Development Fund (CDF)?

₹150 crore

₹326.94 crore (correct)

₹400 crore

₹200 crore

Which agency received the highest disbursement for 'SOFTCOB' in the year 2022-23?

CTIs Signup and view all the answers

During the last three years, which purpose had the lowest disbursement amount in 2023-24?

Infrastructure Signup and view all the answers

Which of the following does NOT represent an activity supported by the Cooperative Development Fund (CDF)?

Establishment of hospitals Signup and view all the answers

What was the disbursement amount for training conducted by BIRD Centres in 2021-22?

235 lakh Signup and view all the answers

In the context of the last three years, which disbursement category showed a consistent increase from 2021-22 to 2022-23?

Training conducted by BIRD Centres Signup and view all the answers

What is the total amount disbursed to rural credit cooperative institutions for publications during 2023-24?

₹6.69 lakh Signup and view all the answers

How many Comprehensive Support Plans (CSPs) have been sanctioned to the North Eastern Region (NER)?

9 CSPs Signup and view all the answers

Which initiative aims to increase efficiency and transparency in Primary Agricultural Credit Societies (PACS)?

Centrally Sponsored Scheme for Computerization of PACS Signup and view all the answers

What percentage of the target for Mission Trial Run PACS was achieved by 30 January 2024?

100% Signup and view all the answers

What is the total number of PACS that have been taken for computerization under the project?

63,000 PACS Signup and view all the answers

Which states recently joined the CSPCP project?

Uttarakhand and Dadra and Nagar Haveli Signup and view all the answers

What is the total amount disbursed under the Comprehensive Support Plan during the year 2023-2024?

₹143.81 lakh Signup and view all the answers

What is a major challenge faced by Cooperative Banks in the North Eastern Region (NER)?

Inadequate infrastructure Signup and view all the answers

What software platform is being used to onboard PACS?

e-PACS platform Signup and view all the answers

What is the primary objective of the Centrally Sponsored Scheme for Computerization of PACS?

To diversify the services of PACS Signup and view all the answers

What is the primary focus of the mutual evaluations conducted by FATF?

Evaluating measures against money laundering and terrorist financing Signup and view all the answers

What significant framework will be effective from April 1, 2024, for Rural Cooperative Banks?

Supervisory Action Framework – Self Initiative for Turn Around (SAF-SITA) Signup and view all the answers

Which organization conducted the in-depth workshops on KYC, AML & CFT for financial officers?

National Bank for Agriculture and Rural Development Signup and view all the answers

What does the SSM concept introduced by NABARD aim to achieve?

Constant engagement with select banks regarding various risks Signup and view all the answers

During FY 2023-24, which types of banks were evaluated for IT examination?

Rural Cooperative Banks, State Co-operative Banks, and District Central Co-operative Banks Signup and view all the answers

What is the primary objective of the National Cooperation Policy Document?

To strengthen the cooperative movement and promote economic development Signup and view all the answers

What was a significant feature of the National Conference on Best Practices in Rural Cooperative Banks?

Proceedings were made accessible live via YouTube Signup and view all the answers

Which of the following topics was NOT covered during the two-day Fintech workshop for RCBs?

Governance models for rural banks Signup and view all the answers

Who were among the distinguished guests at the Fintech workshop for RCBs?

Shri Rajesh Bansal and Shri Rajeev Ranjan Prasad Signup and view all the answers

What was the context in which 'Sahakar se Samriddhi' is related?

Economic development through cooperation Signup and view all the answers

Which aspect of Rural Cooperative Banks was emphasized during the conference's proceedings?

Best practices in governance and human resource management Signup and view all the answers

What role did NABARD play in the creation of the National Cooperation Policy Document?

NABARD actively supported the preparation of the draft policy Signup and view all the answers

What is one of the main goals of promoting collaboration between Fintech and Rural Financial Institutions?

Enhance the technological capabilities of Rural Cooperative Banks Signup and view all the answers

How many participants attended the National Conference on Best Practices in Rural Cooperative Banks?

Approximately 200 Signup and view all the answers

What topic was notably absent from the outlined agenda of the Fintech workshop?

Collaboration with local governments Signup and view all the answers

What was the primary event inaugurated by the Hon’ble Prime Minister on 24 February 2024?

Inauguration of digitised PACS Signup and view all the answers

How many PACS personnel participated in the inaugural event facilitated by NABARD?

3,000 Signup and view all the answers

On what date was the project for Computerisation of ARDBs launched?

30 January 2024 Signup and view all the answers

Who chaired the National level committee for the New National Cooperation Policy?

Shri Suresh Prabhakar Prabhu Signup and view all the answers

How many guests participated in the Republic Day Parade event facilitated by NABARD?

500 Signup and view all the answers

What is the total number of ARDB units set to be computerised under NABARD's initiative?

1,851 Signup and view all the answers

In how many states and UTs is the computerisation of ARDBs being implemented?

11 States and 2 UTs Signup and view all the answers

Who appreciated NABARD's efforts during the launch of the ARDB computerisation?

Shri Amit Shah Signup and view all the answers

What was the main focus of the National Conference and Workshop held on 30 January 2024?

Computerisation of Registrars’ offices Signup and view all the answers

Which minister was associated with the launch of ARDB computerisation?

Minister of Home & Cooperation Signup and view all the answers

Study Notes

Cooperative Development Fund (CDF)

Established in 1992-93 with a corpus of ₹10 crore from NABARD's profit.
Supports activities like infrastructure for PACS, personnel training, and HR capacity building.
Expanded to include initiatives like Comprehensive Support Plan (CSP) for NER states and PACS Computerization.
Cumulative expenditure as of March 31, 2024, totals ₹326.94 crore.
Disbursement details (in ₹ lakh) 2021-22 to 2023-24 highlight support across various initiatives including SOFTCOB, Infrastructure, and Training conducted by BIRD Centres.

Comprehensive Support Plan (CSP) for NER

Formulated to tackle issues faced by Cooperative Banks in North-East Region, including geographic and socio-economic challenges.
NABARD sanctioned 9 CSP schemes, amounting to ₹870 lakh for states like J&K and Andaman & Nicobar.
Disbursed ₹143.81 lakh in 2023-2024.

Computerization of Primary Agricultural Credit Societies (PACS)

Approved on June 29, 2022, aiming to enhance efficiency and transparency of PACS operations.
Initiatives include the digitization of 63,000 PACS, with over 24,000 onboarded to the National Level PACS Software by March 20, 2024.
PM inaugurated 18,000 digitized PACS on February 24, 2024.
A total of 30 States/UTs are participating in the project.

Committee on National Policy on Cooperation

Established on September 2, 2022, chaired by Shri Suresh Prabhu.
Aimed at drafting a new National Cooperation Policy to strengthen the cooperative movement.
NABARD played a significant role in preparing the draft policy for Ministry of Cooperation's approval.

National Conference on Best Practices in Rural Cooperative Banks

Held on October 16-17, 2023, in Lucknow with around 200 participants.
Focused on sharing best practices in governance, business diversification, and technology adoption.

Fintech Collaboration with Rural Financial Institutions (RFIs)

Two-day Fintech workshop conducted for RCBs on March 11-12, 2024, in Lucknow.
Targeted awareness on the application of Fintech/Agritech and collaboration opportunities.
Key participants included NABARD leadership and representatives from various State Cooperative Banks.

FATF Mutual Evaluation

India underwent its second mutual evaluation in November 2023 by FATF.
NABARD engaged with the FATF Mutual Evaluation Assessment Team.
Workshops on KYC, AML, and CFT conducted for key officers in BIRD locations.

Supervisory Action Framework - Self Initiative for Turn Around (SAF-SITA)

Introduced to initiate self-corrective actions for Rural Cooperative Banks, effective from April 1, 2024.
Framework includes trigger points focusing on credit, market, operational, and management risks.

Senior Supervisory Managers (SSM) Concept

Introduced for select large banks based on asset size, enhancing engagement and oversight.
During FY 2023-24, IT examinations conducted for four RRBs and several State Co-operative Banks.

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Description

This quiz explores the initiatives for rural cooperative banks, focusing on the Cooperative Development Fund (CDF) established in 1992-93. It highlights the fund's purpose in supporting infrastructure, training, and capacity building for cooperative banks. Test your knowledge on the varied interventions and impact of the CDF in fostering rural financial institutions.