Government of India has accepted the recommendations of the Task Force on Revival of Rural Cooperative Institutions on Short Term Cooperative Credit Structures (STCCS) in principle which had submitted its report under the chairmanship of Prof. A. Vaidyanathan in February 2005. A press statement from the NABARD Dimapur said that the government after extensive discussion with state governments had finalized a Revival Package and circulated it to the state governments by union finance minister on January 5, 2006 seeking their concurrence for implementation of the package.
The NABARD statement further said that following its continued coordination with the state government, the latter had agreed to implement the Revival Package in the state. It said that a MoU was signed amongst government of Nagaland, NABARD and the ministry of finance, government of India on January 3, 2008. According to the statement, the Revival Package seeks to: provide financial assistance to bring the system to an acceptable level of health in STCCS; introduce legal and institutional reforms for their democratic self reliance and efficient functioning; and take measures to improve the quality of management.
Monday, October 5, 2026