Present position of financial service sector in india

British debate on economic policy is getting nowhere.

Present position of financial service sector in india

This is largely because the cooperative law falls under the state policy and is formulated differently in different states. In states such as Gujarat, where the model succeeds, the cooperative is headed by elected managers and managed by professionals.

In many other states, civil servants manage the cooperative, which results in a lot of government interference in the day-to-day functioning and leads to a lack of democracy and hence no sense of ownership or responsibility at the village level.

It de-linked the district level cooperative from the state level, giving autonomy to district and village mutually aided societies. However, only the state of Andhra Pradesh has implemented the legislation. Changing from the cooperative model to the society model has many associated bureaucratic problems.

To overcome the hassles, Present position of financial service sector in india concept of producer companies was introduced as a way of transforming cooperatives to work more efficiently as representatives of farmers.

However, while promising, it is a relatively new idea that needs more time to develop. Meanwhile, with the liberalization of dairy sector, private sector dairies have emerged as prominent players in the dairy industry.

The company set up there in after the MMPO opened the door to private dairies, and it now trades on the Indian stock exchange.

Present position of financial service sector in india

Milk collection is about 7 lakh litres per day from households in 3 villages in 3 states, although the major operations are in Andhra Pradesh.

The company serves three main metropolitan areas with fresh milk Hyderabad, Chennai and Bangalore and is about to enter Mumbai.

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It also markets a wide range of products, including milk, curd, butter milk, pedha and paneer as well as new items such as flavoured yoghurt and flavoured milk to cater to the changing tastes of the young generation.

The company has several chilling and bulk cooling units across its collection region in Andhra Pradesh to ensure quality of milk through the chain. The company obtains its milk supply through village agents who have personal relationships with the farmers; it does not get directly involved with farmers.

Depending on the social structure of the village, there may be more than one agent per village. The agents collect the milk and deliver to the company. The two parties have negotiated a price, but the company is not involved with what price the agent pays the farmers although it is slightly above what the cooperatives pay in the state.

Company employees are previous dairy cooperative employees who have enormous experience in this area. Collection areas depend on milk density and areas in which the district cooperative is less active and access to markets is efficient. Currently, milk collected from 3 village societies and farmers within 12 district unions totals about litres per day.

There has not been much competition with the private sector in this region because of low productivity and little dairy development, although private sector investment in the dairy sector is on the rise.

The GCMMF consists of 13 district unions, involving 13 village dairy cooperative societies and nearly 2. With an aggregate milk processing capacity of The marketing network encompasses 3 wholesale distributors and over retail outlets, giving GCMMF a national reach that very few fast-moving consumer goods companies can boast.

Farmer members milk their cows twice daily morning and evening. GCMMF collects the milk twice a day, makes regular payments to the farmer members and provides them with cattle feed, fodder, animal breeding and veterinarian services. Anyone who owns a cow or a buffalo and makes a one time payment of 11 rupees 10 rupees for the share certificate and 1 rupee for registration can become a member of the village cooperative society.

The applicant must agree to provide a set minimum quantity of milk, generally between and litres, to the society each year.

The farmer members elect a managing committee that then chooses a chairman. At the second tier, there is a district level union that processes the milk procured from individual societies.

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Each of the 13 unions has a board of directors chosen by an electoral college drawn from the chairpersons of its affiliated societies. The union board in turn elects its chairman. The final tier is constituted by the GCMMF, which is responsible for marketing the milk procured and processed into various value-added products at the union dairies.

All the products are sold under the Sagar or Amul umbrella brands. They elect the federation chairperson and appoint the managing director, who is accountable to the nearly 2. Elected representatives of the farmer members make policy decisions at all three levels, which are then implemented by professional managers and skilled personnel employed by the farmer members.

This structure eliminates all middlemen. By placing the farmer members in command, in essence, of the dairy cooperative involves them in the development process. This cooperative structure is democratic, and the farmers are in control, from the milking of their animals to the final marketing by the federation.

The mandate is clear — production by the masses, for the masses, at its efficient best. The farmer members democratically govern the entire cooperative structure to ensure that the higher tier organizations are geared to serve the purpose of the lower levels and that the gains at all levels flow ultimately back to the farmers in a significant measure.The utility electricity sector in India has one National Grid with an installed capacity of GW as on 31 July Renewable power plants constituted % of total installed capacity.

During the fiscal year , the gross electricity generated by utilities in India was 1, TWh and the total electricity generation (utilities and non utilities) in the country was 1, TWh.

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Financial inclusion: policies and practices—an overview Thankom Arun and Rajalaxmi Kamath. Globally, financial inclusion is a major policy concern with governments across the world. The economy of India is a developing mixed economy.

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It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks th in per capita GDP (nominal) with $2, and nd in per capita GDP (PPP) with $7, as of Currency: Indian rupee (INR) ₹1 = Paise.

Read more about India's Financial Sector in Current Times on Business Standard. I am greatly honoured by the invitation to deliver S. Guhan Memorial Lecture. I am grateful to the organisers namely, Citizen Consumer and Civic Action Group, for extending the invitation.

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