Karnataka establishes cooperative bank for milk producers.

Why in news?

• Karnataka Chief Minister, Basavaraj Bommai Establishing the ‘Nandini Ksheera Samridhi Cooperative Bank’ is a revolutionary initiative, which will provide greater financial strength for the milk producers.
• Karnataka is the only state in the country to set up an exclusive bank for milk producers.

About the ‘Nandini Ksheera Samridhi Cooperative Bank’:

• The Milk Producers cooperatives have a turnover of about Rs 20,000 crore in various banks every day.
• It will bring a second wave of White Revolution in the dairy sector.
• The state government has provided Rs 100 crore as its share capital and the Milk
• Federation and Cooperatives would contribute Rs 260 crore as their share of capital for the proposed cooperative bank which would stimulate huge economic activity in rural hinterland.
• The state government has decided to computerise all the Primary Agricultural Credit Societies (PACS).