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Karnataka establishes cooperative bank for milk producers

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Karnataka Chief Minister, Basavaraj Bommai Establishing the ‘Nandini Ksheera Samridhi Cooperative Bank’ is a revolutionary initiative, which will provide greater financial strength for the milk producers. Karnataka is the only state in the country to set up an exclusive bank for milk producers. Union Home Minister Amit Shah launched the logo of “Nandini Ksheera Samurdhi Sahakar Bank”.

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About the ‘Nandini Ksheera Samridhi Cooperative Bank’:

  • The Milk Producers cooperatives have a turnover of about Rs 20,000 crore in various banks every day.
  • It will bring a second wave of White Revolution in the dairy sector.
  • The state government has provided Rs 100 crore as its share capital and the Milk
  • Federation and Cooperatives would contribute Rs 260 crore as their share of capital for the proposed cooperative bank which would stimulate huge economic activity in rural hinterland.
  • The state government has decided to computerise all the Primary Agricultural Credit Societies (PACS).

Important takeaways for all competitive exams:

  • Karnataka Capital: Bengaluru;
  • Karnataka Chief Minister: Basavaraj S Bommai;
  • Karnataka Governor: Thawar Chand Gehlot.

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