New Delhi, Jan 22 (PTI) Cooperation Minister Amit Shah will on Friday inaugurate the corporate office of the National Urban Cooperative Finance and Development Corporation (NUCFDC) in Mumbai.

On the occasion, Shah will also unveil the annual list of activities for the International Year of Cooperatives 2025, launch training programmes for 10,000 newly formed multi-purpose cooperative societies across the country, and introduce a ranking framework for primary cooperative societies.

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The ranking framework for primary cooperatives will provide a dedicated system for performance evaluation of cooperatives, an official statement said.

The ranking framework provides a platform for gap identification, evaluation, decision-making system towards making primary cooperatives efficient and transparent, thereby enhancing their credibility and competitiveness.

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According to the ministry, 1,135 training programmes will be conducted for 11,352 Multi-Purpose Cooperative Societies (MPACS).

Under this, a special training will be provided to cooperatives on modern management, financial planning, digitisation, and good governance.

A total of 50 participants will be trained in each programme with the overall aim to train 56,760 people. The training will cover 33 states and Union Territories, assisted by 43 master trainers.

The ministry said the release of a list of annual activities of the International Year of Cooperatives 2025 will give a new dimension to the cooperative movement.

Through these activities, the participation of cooperative organisations across the country will be increased and cooperatives will be strengthened at the global level.

NUCFDC has been established to address the challenges faced by urban cooperative banks in their operations and this initiative will assist about 1,500 urban cooperative banks with the necessary IT infrastructure and operations support.

NUCFDC has received a paid-up capital of Rs 300 crore and will function as a self-regulatory organisation with functions and activities to be determined by the Reserve Bank of India.

Shah will felicitate the top performing and functioning cooperatives in key sectors in the Ministry of Cooperation and various states and Union Territories.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)