The National Federation of State Cooperative Banks Ltd. (NAFSCOB), Mumbai was established on May 19, 1964 with a view to facilitate the operations of State and Central Cooperative Banks in general and Development of Cooperative Credit in particular.
The specific objectives of NAFSCOB are to:
• Provide a common forum to the member banks to examine the problems of cooperative credit, banking and allied matters and evolve suitable strategies to deal with them.
• Promote and protect the interests of the member banks in all spheres of their activities and to give expression to the views of the member banks.
• Co-ordinate and liaison with Government of India, Reserve Bank of India respective State Governments, NABARD and other higher financing institutions for the development of cooperative credit on behalf of the member banks.
• Provide research and consultancy inputs to the member banks in order to facilitate them to strengthen their own organisations.
• Organize conferences/seminars/workshops/meetings to share the views of common interest with a view to contribute for better policy decisions.
The Federation functions with three of its wings, viz.
(1) Planning, Research and Development (PRD)
(2) All India Mutual Arrangement Scheme (AIMAS) and
(3) Computer Services Division (CSD).
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