Rajamahendravaram: Cooperatives stand as the cornerstone of rural development, empowering small farmers, women’s self-help groups, and micro, small, and medium enterprises through their core principles, stated M Venkataramana, District Cooperative Officer of East Godavari. He emphasised that the cooperative movement prioritises social welfare over profit.

He made these remarks during a meeting held on Saturday, celebrating 103rd International Cooperative Day. As part of the celebrations, a rally was organised by Cooperative department, starting from government college and concluding at Aryapuram Urban Cooperative Bank. The cooperative flag was hoisted at the bank, followed by a public meeting.

Addressing the gathering, the District Cooperative Officer highlighted that the cooperative movement began in 19th century when banks were not readily available, leading people to form their own systems to meet their needs. He noted that millions of women have achieved financial self-sufficiency through women’s cooperative societies and self-help groups. Venkataramana underscored the crucial role of cooperative societies in India’s development, adding that central and state governments are supporting them to make rural India self-reliant (Atma Nirbhar). He further explained how cooperative organizations have brought about change in people’s lives by undertaking social service activities in education, health, agriculture, and livelihood sectors at the rural level.

Kolla Achyuta Rama Rao, Chairman of Innispeta Urban Bank, stated that ‘mutual support and collective benefit’ is the fundamental principle of the cooperative sector. He pointed out that the cooperative sector has created numerous employment opportunities in areas such as dairy cooperatives, fishermen’s cooperatives, labor cooperative societies, PACS (Primary Agricultural Credit Societies) providing loans and fertilizers, marketing, and cooling centers.

District Cooperative Audit Officer M Jagannath Reddy, Divisional Cooperative Officer M Kanakadurga Reddy, Aryapuram Urban Bank

CEO G Sudhakara Rao, Jampeta Urban Bank CEO M Vijaya Pratap and others also spoke on the occasion.