To tap the potentials of emerging economy cooperatives should spread to larger civil society opined VC University of Mysore Prof. K S Rangappa here on Saturday.
He was speaking after inaugurating the 31st Annual National Convention of Indian society for studies in Cooperation (ISSC) in collaboration with Department of Studies in Commerce & Third Sector Research Resource Centre, University of Mysore. The convention focussed on theme “Positioning of Cooperatives in Emerging Market Economy” and its allied subjects.
Addressing the participants he said that the countries which are emerging economies are bringing reforms in almost all economic activities so as to tap the potentials of emerging market economy. India being an emerging economy, is also on the run. Co-operatives are formed to help a group of small people and making them economically strong. Though, in India we see a large number of co-operatives they are small in number. In the meantime Co-operatives in India is quite a complex issue as it has both rural co-operatives and urban cooperatives. However, efforts should be made to reach co-operatives to the larger section of the civil society especially the rural mass and marginalised sections of the society. With the theme positioning cooperatives in emerging market I hope that this convention will come out with resolutions that help the needy.
Delivering key note address on “Short term Co-operative credit- structure, form and challenges” for Dr. Meenakshi Rajeev Professor at ISEC, Bengaluru said that Indian economy has brought various policy prescriptions like, “Jan Dhan Yojna”, financial inclusion, new pension schemes, direct benefit transfer scheme, encouraging MSMEs, skill development scheme, integration of various agricultural scheme, new textile scheme, use of ICT, opening up of payment and small banking and others initiatives. However, in a populous country like India it is important to know that how financial intermediate is built to access credit. There is huge prevalence of Gold loan with RTC as it is been popular schemes to avoid complications.
Dr.A.P.Kansal, Vice-Chairman, ISSC, Anil Karanjkar, Secretary, Prof. T.Paranjothi, Joint-Secretary and Chairman Department of Studies in Commerce Dr Nagendra Babu K were present.