Amit Shah Announces Cooperative Life Insurance Company to Boost Sector

Union Minister Amit Shah on Monday said a cooperative life insurance company will be set up to boost the growth of cooperatives in the country.

At a function in the national capital to mark the 5th Foundation Day of the Ministry of Cooperation, Shah said the establishment of the ministry has given a new "lifeline" to India's cooperative movement, which was a "neglected movement" during the Congress rule.

The Cooperation



Minister said 'Bharat Taxi' has been doing well and would be expanded into 500 cities in the next two years. 

On similar lines of Bharat Taxi, Shah said: "We will be setting up a life insurance company in the cooperative sector. This will help in the growth of cooperatives in the insurance sector". 

He mentioned the fertiliser cooperative IFFCO is already in the insurance business through a joint venture with a Japanese firm.