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
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 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
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
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
Senior IAS officer Gyanesh Kumar has been appointed as Secretary, Ministry of Cooperation as part of a top-level bureaucratic reshuffle effected by the Centre on Monday. Kumar, a 1988-batch IAS officer of the Kerala cadre, is currently Secretary, Ministry of Parliamentary Affairs. He … Read more