Union Minister of Statistics and Programme Implementation D.V. Sadananada Gowda has asked cooperative societies to adapt cashless transaction that will bring financial discipline.
Speaking at the 64th All India Cooperative Week here recently, Mr. Gowda said that digitalisation of banking transactions and adoption of cashless transaction has removed financial indiscipline.
“Cashless transaction has brought in transparency in banking sector. With direct benefit transfer, beneficiaries are getting benefits directly to their bank accounts.” Mr. Gowda asked cooperative societies to move forward and adapt digitalisation.
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“There might be some hitches. In a democratic set up there are means to resolve it and do course correction,” he said pointing to recent decision of the Goods and Services Tax Council to lower the GST of over 200 articles.
Earlier, Karnataka Minister for Cooperation Ramesh Jarkiholi said those in cooperative sector were working for development of the sector by keeping aside their political affiliations.
Mr. Jarkiholi said though cooperative movement was good in the State it needs to improve further to reach the level in Gujarat and Maharashtra, he said.
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