The robust three tier State Cooperative Bank (SCB) network based on cooperative principles at the grass root level is one of the major economic force in developed countries. Similarly, in developing countries like India it has become one of the most powerful engine boosting
financial inclusion.
And is set to achieve the PM’s mission of doubling farmer’s income by 2022. Today as the country grapples with COVID-19 situation with the economy on ventilator, reforms are paving way for a better India. And the StCB sector too has a futuristic role to play.
Farming along with rural industries and MSME sector both help Financial inclusion hence making StCB a part of the financing plan to MSME credit could help the SCB and their network to become a economy driver and pave a way for a resilient GDP.
This paper gives a bird’s eye view of how the SCB along with its DCCBs and PACS can help give larger scope to financial inclusion. This paper discusses 11 most prominent SCBs and their share in the peer group of 33 SCBs pan India.
And also their relevance for covering farmer families understood through peer comparison ratio for DCCBs and PACS. Also this paper consists of case studies of some of the SCBs who have fortified their presence by not restricting themselves to agricultural credit and made more thrust through cooperative fundamentals and principles to serve larger areas of financial inclusion including the MSME sector too in its scope of operations.