The Union Ministry of Cooperation held a high-level review meeting on Tuesday at Atal Akshay Urja Bhawan in New Delhi. The meeting, chaired by Secretary Dr. Ashish Kumar Bhutani, aimed to assess the progress of IFFCO-TOKIO in onboarding cooperatives and outlining its business expansion strategies. The discussions focused on key areas such as strengthening cooperative outreach, widening insurance coverage, and aligning the company’s growth plans with the Ministry’s objectives.
Dr. Bhutani emphasized the importance of leveraging insurance solutions to protect cooperative members and enhance financial resilience at the grassroots level. He highlighted the need for IFFCO-TOKIO to expand its insurance coverage to more cooperatives, thereby providing financial security to its members. The meeting also explored ways to strengthen the cooperative sector through innovative insurance products and services.
The meeting was attended by senior officials from the Ministry of Cooperation, including Pankaj Kumar Bansal, Additional Secretary, and Raman Kumar, Joint Secretary. Representatives from IFFCO, including Managing Director K.J. Patel and Joint Managing Director & Chief Financial Officer Rakesh Kapur, were also present. Other key stakeholders from the cooperative sector attended the meeting, providing valuable insights and suggestions.
The review meeting marked an important step towards strengthening the cooperative sector through insurance solutions. By onboarding more cooperatives and expanding its insurance coverage, IFFCO-TOKIO can play a vital role in enhancing financial resilience and promoting economic growth at the grassroots level. The Ministry of Cooperation’s efforts to leverage insurance solutions for the cooperative sector are expected to have a positive impact on the lives of millions of cooperative members across the country.
Overall, the meeting underscored the importance of collaboration between the government, cooperative sector, and insurance companies to promote economic growth and financial inclusion. The outcomes of the meeting are expected to guide IFFCO-TOKIO’s future growth plans and strategies, ensuring that they align with the broader objectives of the Ministry of Cooperation. With a focus on strengthening cooperative outreach and widening insurance coverage, the meeting marked a significant step towards promoting the growth and development of the cooperative sector in India.