Gujarat’s urban cooperative banks have been making headlines for the wrong reasons, and many have been slapped with RBI fines for lending to own directors or their relatives.
Some argue that India must adopt a system like Israel, Netherlands and Japan, where the cooperative movement is strong but there is no ministry for it.
Govt said the Ministry of Cooperation will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country.
Until now, units operating even in recognised industrial areas needed a separate factory licence. The move is expected to especially give a boost to small and medium enterprises.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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