Amit Shah Announces Cooperative Life Insurance Company, Bharat Taxi Expansion to 500 Cities

The Ministry of Cooperation is celebrating its fifth Foundation Day with a some of the important announcements towards boosting the cooperative movement in India. Notable announcements made by Union Minister Amit Shah is the establishment of a cooperative life insurance company. Furthermore, Amit Shah has also stated that Bharat Taxi platform will be operational in 500 cities in two years time.

Major Announcements of the Celebration of Fifth Foundation Day

According to Amit Shah, the Ministry has made huge contributions in giving a new dimension to the cooperative sector by using technology, transparency, and competition to improve its performance.

The following key announcements were made during the occasion,

• Introducing the cooperative life insurance company
• Landing of the Bharat taxi to 500 cities in the near future
• Promotion of organic farming initiatives
• Professing entrepreneurship through Primary Agricultural Credit Societies (PACS)

The Establishment of Cooperative Life Insurance Company

The proposal to establish a Cooperative Life Insurance Company was one of the major highlights of the event.

Amit Shah said that,

• This will help to strengthen the cooperative sector in the insurance industry.
• The proposal will help the cooperative movement in the country.
• It will promote financial inclusion and help people to have access to more products.

Amit Shah has also mentioned that IFFCO-TOKIO is already engaged in the insurance industry in the country and there are around 26 life insurance companies in the country.

Bharat Taxi empowers 500 cities

Amit Shah has announced a major expansion of Bharat Taxi which is a cooperatively-owned ride-hailing service.

Current Statistics

Bharat Taxi has,

• 637,000 drivers registered on its platform
• 3,577,000 customers

The service is available in,

• Delhi-NCR
• Gujarat
• Lucknow
• Chandigarh
• Mumbai
• Jaipur
• Kanpur
• Expansion Plans

The service will soon be expanded to,

• Ranchi
• Patna
• Guwahati
• Bhopal
• Kolkata
• Indore
• Nagpur

The long-term goal is to expand the service to 500 cities in India.

What Is Bharat Taxi?

Bharat Taxi is a transport service company run by Sahakar Taxi Cooperative Ltd.

It is different from the traditional taxi apps since it uses a cooperative model where taxi drivers will be able to become partners in the business instead of just working as service providers.

Bharat Taxi is part of the government’s initiative to spread the benefits of cooperative business model in different industries.