The National Federation of State Co-operative Banks Ltd. (NAFSCOB), was established on 19th May 1964 with a view to facilitate the operations of State and Central Co-operative Banks in general and Development of Co-operative Credit in particular.
The specific objectives of NAFSCOB are:
- To provide a common forum to the member banks to examine the problems of Co-operative 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 Co-operative 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 organizations.
- Organise conferences/seminars/workshops/meeting to share the views of common interest with a view to contribute for better policy decisions.
The Federation functions with two of its wings, Viz.:
- Planning, Research and Development (PRD).
- Computer Services Division (CSD).