National Agricultural Co operative Marketing Federation of India Ltd( NAFED )

• National Agricultural Co operative Marketing Federation of India called  NAFED

• NAFED established on 2nd October 1958

• NAFED is the apex organization of marketing co operatives in India

• NAFED is registered under Multi state co operative Societies Act 1942

• Headquarters of NAFED in New delhi

• NAFED have 4 regional offices New delhi, Mumbai, Chennai, Kolkata

• NAFED have 28 zonal offices across India

• Nodel agency for implementing Price Supporting scheme of Govt is NAFED

• National Spot Exchange related with NAFED

• NAFED registered under multi state co operative societies Act of 1942

• The bio fertilizer plant of NAFED is situated at  Indore 

• NAFED has a foreign terminal in Dubai

• National Horticulture Research Development   Foundation ( NHRDF ) founded by NAFED in 1977
• Govt has no equity participation in the share capital of NAFED 

• Co operative tour is the publication of NAFED

Indian Farmers Fertilizer Co operative Limited ( IFFCO )

• Indian Farmers Fertilizer Co operative Limited known as IFFCO

• IFFCO is world largest fertilizer co operative federation 

• The largest urea producer in the world is IIFCO

• IFFCO founded on 3rd November 1967

• Headquarters of IFFCO is New delhi

• IFFCO registered under Multi Unit Co operative Societies Act

• IFFCO is a multi state co operative society

• KRIBCO is promoted by IFFCO

• Indian Farm Forestry Development Co operative Limited promoted by IIFCO       
• Kissan Seva Trust promoted by IIFCO    

• Farmers Service Centre established by IIFCO

• The first fertilizer plant of IIFCO is at Kalol in Gujarat

• The Kalol plant commissioned in the year 1975

• IFFCO has 5 plant in India

  1. Urea and amonia plant at Kalol in                    Gujarat

  2. Phosphatic fertilizer production unit at 

      Kandla in Gujarat

  3. Amonia and Urea plant at Phulpur at              Uttarpradesh

  4. Amonia and Urea plant at Aonla                      UttarPradesh 

  5. Worlds largest grassroots DAP plant at           Paradeep in Orissa

• Board of directors of IIFCO has 30 members

• CEO of IIFCO is Managing Director

                         

National Co operative Development Corporation (NCDC)

• NCDC means National Co operative Development Corporation

• NCDC is a statutory corporation

• NCDC implemented as per the recommendation of All India Rural Credit Survey Committee

• NCDC implement scheme for co operative development

• NCDC Act passed in the year 1962

• NCDC formed on 13 March 1963

• Headquarters of NCDC New delhi

• The chief executive of NCDC was Managing Director

• Managing Director of NCDC appointed by Government of India

• The supreme body of NCDC is General Council 

• NCDC general council include  51 members 

• Managing committee of NCDC has 12 members

• Executive body of NCDC is Managing Committee

• Managing committee of NCDC appointed by Government of India

• President of NCDC is the Union minister for Agriculture and Farmers Welfare

• Vice President of NCDC is the  secretary of ministry of Agriculture and Farmers Welfare

• NCDC has 18 regional state directories 

• Co operative spinning mills are governed and controlled under NCDC

• NCDC give financial assistance to state government and not to the co operative organizations directly 

• NCDC Act first amendmented in 1975

• Rural consumer schemes was introduced by NCDC 

• Rural Consumer Scheme also known as Lead Link Scheme

• Lead Link Scheme implemented in 1976

• National co operative development fund now administrated by NCDC

• Hantex gets assistance from NCDC for the construction  of godowns

• Integrated Co operative Development Programme (ICDP ) implemented by NCDC in 1985

• ICDP first implemented at Nadiya district in West Bengal

• ICDP is being implemented in the state with the financial support of NCDC

• Minimum Support Price ( MSP ) is scheme of NCDC

• NCDC set up it's own training center in 1985 

• Govt of India in February 2018 renamed it as LINAC

• LINAC - Luxmanrao Inamdar National Academy for Co operative research and development 

• The training institute under the control of NCDC is LINAC

• Headquarter of LINAC situvated at Gurugram Hariyana  

                     

CO OPERATIVE SOCIETIES ACT 1912

• The co operative societies Act came into force on 01-03-1912

• Main objectives of 1912 Act is, Non credit co operative  societies were formed

• This Act include 50 Sections

• As per 1912 Act, Minimum number of persons required to form co operative society was 10

• Societies were classified on the basis of liability, that is  limited and Unlimited 

• Member should hold shares more than Rupees 1000

• 25 Percentage of the profit transferred to Reserve fund

• 75 percentage of the profit distributed to members 

   

                               

National Co operative Consumer Federation ( NCCF )

• First consumer co operative society was set in Madras

• Triplicane urban co operative Society  was the first consumer co operative society in India 

• Consumer co operatives in India have a federal structure 

• The spokesman of consumer co operative movement in India is NCCF

• The National Co operative Consumer Federation of India Ltd ( NCCF ) is apex level consumer co operatives in India

• NCCF established in 16  October 1965

• NCCF start functioning from 1966

• NCCF established at the time of fourth five year plan

• NCCF is under the control of Ministry of consumer affairs

• NCCF started it's first departmental store in Delhi

• The first departmental store of NCCF in  Delhi ( Nehru palace ) 

• Price Supporting Scheme ( PSS ) is related with NCCF

                       

TYPES OF CO OPERATIVES IN INDIA

Types of Co operatives in India

1. Consumer Cooperatives
2. Producer Co operatives
3. Marketing Co operatives
4. Housing Co operatives
5. Credit Co operatives
6. Farming Co operatives  

FATHER OF CO OPERATIVE MOVEMENTS

India               -   Federic Nicholson

England          -   Robert Owen 

Germany        -  F W Reiffesen 

USA                 -  Hudson Kelly

France            -  Charles Fourier 

Denmark       -   H C Soune

Israel              -   Bon Edmound

Ireland           -   Horace Plunket

China              -   Sun Yat Sen

       

CO OPERATIVE MOVEMENT IN INDIA

• Co operative movement in India is a Government sponsored movement 

• Deccan Agricultural Relief Act 1879

• Land Improvement Loan Act 1883

• Agricultural Loan Act 1884

• Land Improvement Loan Act 1883 and Agricultural Loan Act 1884 together called Taccavi Loans

• During 1892 Madras Government appoint Federic Nicholson to Study the village bank in Europe 

• Father of co operative movement in India  Sir Federic Nicholson 

• Sir Federic Nicholson submitted the report in 1895

• The name of the report was" Find Reiffesen"

• The report suggested to establish co operative societies for rural credit 

• In 1901 Famine commission was established 

• In 1904 the co operative credit society  Act was passed 

• The Co operative Credit Societies Act passed on 25 March 1904

• First co operative law in India is Co operative Credit Society Act 1904

• Lord Curzon was the viceroy in 1904

 The main features of the Act 1904 were

1. The Act has 29 sections
2. Minimum number of person required to start a co operative societies were 10 person 
3. Societies were classified on Rural and Urban
4. Rural societies were to be organized on Reiffesen model 
5. Liability of the societies were Unlimited 
6. Loans provided for members, only for productive purpose
7. Urban societies were organized on Schulze Delitzsch Model 
8. Liability of urban socities were Limited 
9. Registrar was supported to be organized and control the society 
10. One man one vote was specified in this Act  
11. Non credit societies are not allowed to register as per this Act
12. No member could hold shares worth more than Rs 1000         

           

RESERVE BANK OF INDIA

• RBI Act passed in the year 1934

• Reserve Bank of  India established on 1 April 1935

• First headquarters of RBI in calcutta 

• In 1937 RBI headquarter was transferred to Mumbai 

• RBI nationalised in the year 1st January 1949

• RBI is the Central bank of India 

• Monitary policy of India controlled by RBI

• First Governor of RBI sir Osborne Smith 

• CD Deshmukh is the first Indian Governor of RBI

• 15th Governor of RBI  Dr Manmohan Singh

• 25th and Present Governor of RBI Sakti Kanta Das

• RBI is the custodian of foreign exchange reserve in india

• Service area approach was introduced by RBI

• Credit control is the function of RBI

• Regional Rural Banks get recommendation from RBI for opening branches

• RBI introduced 14 day intermediate treasury bills and 14 day treasury bills on 1997

• RBI introduced a bill rediscounting scheme in 1970

                                   

NABARD

• NABARD - National Bank for Agricultural and Rural Development Bank
• For the request of Government of India RBI constitute a Committee to Review the Arrangement for Institutional Credit for Agriculture and Rural Development ( CRAFICARD)
• CRAFICARD established on 30th March 1979
• B Sivaraman was the chairman of CRAFICARD 
• The committee submitted the interim report on 28 November 1979 and recommended the formation of NABARD 
• The Parliament of India through Act 61 of 1981 approved the setting up of NABARD 
• NABARD was came into existence on 12 July 1982
• Initial capital of NABARD is 100 crores
• Headquarters of NABARD is Mumbai 
• First Chairman of NABARD was M Ramakrishnayya
• Present Chairman of NABARD  is Dr Harsh Kumar Bhanwala
• Sitting MP or MLA cannot became a member of  NABARD 
• NABARD set up a committee to study about junior level co operative training centre, the chairman of the committee was G P Bhave
• The Swarozgar Credit Card System introduced by NABARD 
• NABCONS & NABFINS are the subsidiaries of NABARD 
• The training institute sponsored by NABARD is BIRD ( Bankers Institute for Rural Development  )
• NABARD is the custodian of National Rural Credit Stabilization Fund 
• Non overdue cover is a condition imposed by NABARD on the District co operative Bank
• Central government contribution to Regional rural banks are made through NABARD 
• Grameeya is the half yearly publication of NABARD 
• The kissan credit card Scheme was started by government of India in consultation with RBI and NABARD