Govt allots Rs 2,516 cr for computerisation of primary agri co-op societies

The Cabinet on Wednesday approved a grant of over Rs 2,516 crore for computerisation of around 63,000 Primary Agriculture Cooperative Societies (PACS). According to top officials, this is part of a gamut of measures that the government intends to take to make PACS economically viable. The measures also include … Read more

Urban co-op banks need to focus on symmetric development: Amit Shah

Cooperation Minister Amit Shah on Thursday said urban cooperative banks need to focus on symmetric development and adopt modern banking methods to stay in competition. He emphasised on the reforms in urban cooperative banks and asked them to make structural changes, computerise accounting processes and infuse young talent in … Read more

Co-op Insurance and L&G team up to provide later life mortgage options

Co-op Insurance has partnered with Legal & General to provide homeowners over the age of 55 with later life mortgage options. The new launches, which form part of a trial, will offer lifetime mortgages and retirement interest-only mortgages.  The products are fully regulated by the Financial Conduct Authority (FCA).  As members of the Equity Release … Read more

Co-Op Bank brings legal case against review on mortgage prisoners investigation

The Co-Operative Bank (Co-Op Bank) is bringing a legal challenge against a judicial review at London’s High Court on a customer’s past mortgage interest payments, Bloomberg UK reports. The review is set to consider whether the Financial Ombudsman Service can investigate a complaint about the fairness of the interest rates that the lender charged customer … Read more

Co-op societies can now procure goods from public procurement portal GeM

The Union Cabinet on Wednesday expanded the scope of the public procurement portal Government e-Marketplace (GeM) to allow cooperative societies to register as buyers. The decision is expected to help cooperatives in getting competitive prices through an open and transparent process. An official statement said that more than 8,54,000 … Read more