Indeed, it is a good time and place to have a detailed discussion on the evolution of the UCBs, governance issues observed in them and the challenges in the regulation and supervision of the sector.
I would like to begin with a brief note on the historical perspective on cooperative movement in India and the origin of UCBs, and then move on to the current issues. Historical perspective The cooperative movement in India started a century ago with the enactment of Cooperative Societies Act in 1904.