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CORPORATE GOVERNANCE IN COOPERATIVES. G. N. SAXENA DIRECTOR (COOP. DEVELOPMENT) IFFCO, INDIA. WHY CORPORATE GOVERNANCE IN COOPERATIVES.

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CORPORATE GOVERNANCE IN COOPERATIVES


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    1. CORPORATE GOVERNANCE IN COOPERATIVES G. N. SAXENA DIRECTOR (COOP. DEVELOPMENT) IFFCO, INDIA

    2. WHY CORPORATE GOVERNANCE IN COOPERATIVES • CORPORATE ETHICS IS BASED ON THE PHILOSOPHY OF OPPORTUNITIES IN MARKET AND ACCORDINGLY INTEGRATE THE VALUE CHAIN IN TO THEIR OPERATIONS FOR MEETING DEMANDS IN MARKET AT A PROFITABLE SCALE. THE FUNDAMENTAL RULE IS TO CONTINUOUSLY LOOK FOR OPPORTUNITIES AND PLAN INTERVENTIONS IN AN ENTREPRENEURIAL & PROFITABLE MANNER. • CO-OPERATIVES NEED TO FOLLOW THIS RULE AND BASE THEIR FUTURE PLANS ON THE BASIS OF OPPORTUNITIES IN THE MARKET AND ACCORDINGLY INTEGRATE VALUE ADDITIVE FEATURES IN THEIR OPERATIONS TO UPSCALE THE VALUE CHAIN AND SERVE THE NEEDS AND ASPIRATION OF MEMBERS IN MORE BENEFICIAL MANNER.

    3. CORPORATE GOVERNANCE • “CORPORATE GOVERNANCE IS ABOUT “THE WHOLE SET” OF LEGAL, CULTURAL, AND INSTITUTIONAL ARRANGEMENTS THAT DETERMINE WHAT PUBLIC CORPORATIONS CAN DO, WHO CONTROLS THEM, HOW THAT CONTROL IS EXCERCISED, AND HOW THE RISKS AND RETURN FROM THE ACTIVITIES THEY UNDERTAKE ARE ALLOCATED.” • (BY MARGARET BLAIR,PROFESSOR OF LAW, VANDERBILT UNIVERSITY LAW SCHOOL)

    4. CONTINUED……. • GOVERNANCE IN COOPERATIVES IS DIFFERENT AS COMPARED TO PRIVATE ENTERPRISES, BECAUSE ENSURING RETENTION OF CONTROL BY MEMBERS DEPENDS ON THE AWARENESS, UNDERSTANDING & KNOWLEDGE OF THE ELECTED REPRESENTATIVES ABOUT THE COOPERATIVE PHILOSOPHY, AND THEIR OWN RESPONSIBILITY AND ROLE IN THE MANAGEMENT.

    5. CONTINUED……. • THE GOVERNANCE FRAMEWORK SHOULD ENSURE STRICT REGULATORY REGIME, EFFECTIVE MONITORING MECHANISM AND STANDARD OPERATING PROCEDURES ENSURING BOARD’S ACCOUNTABILITY TO THE MEMBERS.

    6. CONTINUED……. • GOVERNANCE REFLECTS THE QUALITY OF MANAGEMENT IN AN ORGANIZATION. • THE PRINCIPAL STAKEHOLDERS IN COOPERATIVES ARE THE MEMBERS, THE BOARD OF DIRECTORS, EMPLOYEES, CUSTOMERS, CREDITORS, SUPPLIERS, AND THE COMMUNITY AT LARGE.

    7. CONTINUED……. • IN SIMPLE WORDS, IT CAN BE SAID THAT “GOVERNANCE” IN A COOPERATIVE ENTERPRISE IS ABOUT STRIKING A FINE BALANCE BETWEEN THE PROCESS OF MAKING THE DECISIONS AND THE PROCESS OF IMPLEMENTING THE DECISIONS.

    8. CORPORATE GOVERNANCE IN COOPERATIVES • GOOD CORPORATE GOVERNANCE PRACTICES IN COOPERATIVES HELP A COOPERATIVE TO ACHIEVE THE FOLLOWING: • DEVELOPING APPROPRIATE STRATEGIES THAT RESULT IN THE ACHIEVEMENT OF THE MEMBERS’ OBJECTIVES. • ATTRACTING, MOTIVATING AND RETAINING MEMBERS. • CREATING A SECURE AND PROSPEROUS OPERATING ENVIRONMENT AND IMPROVING OPERATIONAL PERFORMANCE. • MANAGING AND MITIGATING RISK AND • PROTECTING AND ENHANCING THE CO-OPERATIVE’S REPUTATION.

    9. KEY FACTORS OF GOVERNANCE • GOVERNANCE COMPRISES OF: • PARTICIPATION • TRANSPARENCY • ACCOUNTABILITY & • ANTICIPATION

    10. FACTORS CONTRIBUTING GOOD COOPERATIVE GOVERNANCE • GOOD GOVERNANCE DEPENDS ON : • A. RESPONSIVE ELECTED LEADERSHIP • FAITH IN COOPERATIVE PRINCIPLES AND VALUES. • INDEPENDENT WITHOUT ANY OUTSIDE PRESSURE. • DEMOCRATIC DECISION MAKING. • MEMBER DRIVEN-ACCOUNTABLE TO MEMBERS. • KNOWLEDGE ABOUT BUSINESS DIMENSION, VISION AND BUSINESS ACUMEN. • TRANSPARENT DECISION MAKING. • ALIVE AND RESPONSIVE TO SOCIAL NEEDS. • ALIVE TO MARKET PRACTICES AND TECHNOLOGICAL INNOVATION. • OPEN FOR IDEAS AND SENSITIVE TO MARKET CHANGES. • TAKING CARE OF MEMBER NEEDS, RIGHT OF INFORMATION TO MEMBERS

    11. CONTINUED……. • B. PROFESSIONAL MANAGEMENT • QUALIFIED TO TAKE RESPONSIBILITY OF MANAGEMENT AND BUSINESS. • ACCOUNTABLE TO ELECTED LEADERSHIP. • UNDERSTAND COOPERATIVE PHILOSPHY, COOPERATIVE WAY OF FUNCTIONING. • RESPECT DEMOCRATICALLY EXPRESSED NEEDS OF MEMBERS.

    12. CONTINUED……. • C. VALUE BASED MANAGEMENT • UNIFIED BOARD OF DIRECTORS COMPRISING OF UNITED TEAM OF PROFESSIONAL MANAGERS SUCH AS FUNCTIONAL DIRECTORS AND ELECTED DIRECTORS ON THE BOARD. • PROFESSIONAL MANAGERS ON THE BOARD ALLOW THEM TO COMPREHEND THE THINKING OF THE ELECTED DIRECTORS IN SERVING THE MEMBERS. • ALLOW POLICY FORMATION TO BE DRIVEN BY BOTH MEMBER-LEAD PHILOSPHY AND BUSINESS RESULTS.

    13. CONTINUED……. • E. ROLE OF THE GOVERNMENT • RECOGNIZE COOPERATIVES AS DISTINCT AND MAJOR STAKEHOLDER IN ECONOMY BOTH NATIONALLY AND INTERNATIONALLY. • TO PROVIDE FRAMEWORK OF LEGISLATION CONDUCIVE TO THE GROWTH OF COOPERATIVES. • COOPERATIVE LEGISLATION SHOULD BE MORE MEMBER-ORIENTED, MEMBER DRIVEN , MEMBER FRIENDLY AND BUSINESS ORIENTED. • AUTONOMY TO THE BOARD TO RUN THE AFFAIRS OF THEIR COOPERATIVES DEMOCRATICALLY IN CONFORMITY WITH THE COOPERATIVE PRINCIPLES WHILE ASSISTANCE FROM THE GOVERNMENT COULD STILL CONTINUE.

    14. EFFECTIVE BOARD • RECOGNISES THAT IT IS SUBSERVIENT TO THE MEMBER SHAREHOLDERS. • PROTECT RIGHTS AND ENSURES EQUAL TREATMENT TO ALL SHAREHOLDERS. • RECOGNISES THE ROLE AND RESPECTS THE “PROFESSIONAL MANAGERS”. • ENSURES ACCOUNTABILITY. • ENSURES FAIRNESS AND TRANSPARENCY IN DECISION MAKING.

    15. CHALLENGES TO EFFECTIVE CORPORATE GOVERNANCE IN COOPERATIVES • WEAK OVERSIGHT AND VISION. • LACK OF PROPER MONITORING AND SUPERVISION. • MANAGEMENT OVERRIDE. • INADEQUATE INDEPENDENCE OF THE BOARD. • LACK OF RESPECT FOR COOPERATIVE COMMUNITY. • ELECTED BOARD OF DIRECTORS NOT GETTING RIGHT INFORMATION AND ENOUGH TIME FOR BOARD AFFAIRS. • BOARD COMMITTEES NOT HAVING HIGH EFFECTIVENESS.

    16. GOVERNANCE IN IFFCO • IFFCO HAS CONSISTENTLY FOLLOWED TRANSPARENT, DEMOCRATIC AND PROFESSIONAL PRACTICES IN ITS GOVERNANCE. • IFFCO HAS CARVED OUT A STRONG " COOPERATIVE IDENTITY" AND IS MAKING SINCERE EFFORTS TO UPHOLD THE "COOPERATIVE VALUES" BY CHERISHING "COOPERATIVE PRINCIPLES". • IFFCO CONDUCTS ITS BUSINESS WITHIN THE FRAME WORK OF MULTI STATE COOPERATIVE SOCIETIES ACT AND ITS BYE-LAWS

    17. COMPOSITION OF BOARD &SUB-COMMITTEES • IFFCO BOARD CONSISTS OF • ELECTED MEMBERS • NOMINATED MEMBERS • FUNCTIONAL DIRECTORS • FORMATION OF VARIOUS COMMITTEES • PROJECT SUB-COMMITTEE • MARKETING SUB COMMITTEE • EXECUTIVE COMMITTEE • AUDIT COMMITTEE AND • TASK-BASED SUB GROUP

    18. THE IFFCO GENERAL BODY • IFFCO HAS A “REPRESENTATIVE GENERAL BODY” WHICH AS PER LAW EXCERCISES THE RIGHTS OF THE GENERAL BODY. MEMBER SOCIETIES (39,910) ELECTS MEMBERS OF THE REPRESENTATIVE GENERAL BODY (RGB) (1,000) ELECTS ELEVEN DIRECTORS ON THE BOARD

    19. DESIGN OF THE IFFCO BOARD • IN COOPERATIVES, GENERALLY THE ‘DESIGN’ OF THE BOARD, PLAYS A SIGNIFICANT ROLE. THE COMPOSITION OF THE BOARD, TO A VERY LARGE EXTENT, DECIDES GOVERNANCE IN A COOPERATIVE. • IN IFFCO , THE BOARD COMPRISES OF :- • ELECTED DIRECTORS - 11 (ELEVEN) • DIRECTORS FROM STATE FEDERATION - 10 (TEN) • 21 (TWENTY ONE) • FUNCTIONAL DIRECTORS - 7 (SEVEN) • COOPTED DIRECTORS - 2 (TWO) • 9 (NINE) • 30 (THIRTY)

    20. STAKEHOLDERS IN IFFCO • MAXIMIZING THE SHAREHOLDER VALUE IN SOCIETY WHILE ENSURING FAIRNESS TO ALL STAKEHOLDERS • MEMBERS (WHO ARE MARKETEERS /CONSUMERS ALSO) • EMPLOYEES • VENDORS • THE GOVERNMENT • SOCIETY-AT-LARGE; (WITH PARTICULAR FOCUS ON FARMING COMMUNITY.) • IN IFFCO, THERE IS CLEAR DEMARCATION BETWEEN ELECTED LEADERSHIP AND PROFESSIONALS • THE ROLE OF PROFESSIONAL MANAGEMENT IS SUB-SERVIENT TO ELECTED LEADERSHIP .

    21. ELECTED LEADERSHIP GETS UPPER HAND • THOUGH THE “ELECTED LEADERSHIP” AND THE “PROFESSIONAL MANAGERS” ARE THE INTEGRAL PART OF THE GOOD GOVERNANCE ; BUT IFFCO TYPICALLY HAS STILL MADE THE DIFFERENCE. • BYE LAW - 40 PROVIDES ‘MORE SAY’ BY “ELECTED MEMBERS”. • BYE LAW - 40 PROVIDES THAT • QUORUM OF THE BOARD MEETING IS ONE-HALF I.E. 15 DIRECTORS(OUT OF 30 DIRECTORS). • EIGHT OF WHOM AT LEAST SHALL BE OTHER THAN FUNCTIONAL DIRECTOR AND COOPTED DIRECTOR.

    22. PERIODICAL BOARD/COMMITTEE MEETINGS • REGULAR BOARD MEETINGS • ABOUT 10-12 BOARD MEETINGS. • AS CEO HAS VERY MEAGRE FINANCIAL POWERS. • REGULAR MEETINGS OF SPECIALISED COMMITTEES • EXECUTIVE COMMITTEE • MARKETING COMMITTEE • AUDIT COMMITTEE • TIMELY AUDIT • IFFCO’S BALANCE SHEET IS NORMALLY SIGNED AFTER THREE WEEKS OF THE COMPLETION OF FINANCIAL YEAR. • TIMELY ELECTIONS • TIMELY SUBMISSION OF INFORMATION AS SOUGHT BY THE CENTRAL REGISTRAR.

    23. CODE OF CONDUCT & VIGILANCE • IFFCO HAS A WELL DEFINED "CODE OF CONDUCT" FOR ITS BOARD OF DIRECTORS IN ALIGNMENT WITH SOCIETY'S VISION AND VALUES TO ACHIEVE THE MISSION AND OBJECTIVES AND AIMS AT ENHANCING ETHICAL AND TRANSPARENT PROCESS IN MANAGING THE AFFAIRS OF THE SOCIETY. • KEEPING IN VIEW THE RESPONSIBILITY TO SAFEGUARD THE INTEREST OF ITS MEMBERS, IFFCO HAS SET UP VIGILANCE DEPARTMENT AT EACH MANUFACTURING UNIT AND ZONAL OFFICE OF MARKETING DIVISION. • VIGILANCE DEPARTMENT REVIEW THE PROCUREMENT FILES, SERVICE CONTRACTS AND VERIFY COMPLAINTS ETC. AND FORWARD IT'S REPORTS TO MANAGING DIRECTOR WITH RECOMMENDATIONS FOR NECESSARY ACTION.

    24. AUDIT AND STANDARD OPERATING MANUALS • IFFCO SUBJECTS ITSELF TO REGULAR AUDIT. • AUDITORS PERIODICALLY COME TO THE BOARD MEETINGS(AT LEAST BI-ANNUALLY). • AUDITORS ARE INVITED TO ANNUAL GENERAL MEETINGS. • IFFCO HOLDS QUARTERLY REVIEW MEETINGS. • IFFCO HAS STANDARD OPERATING MANUALS- • PROCUREMENT & CONTRACTING PROCEDURE • INTERNAL AUDIT MANUAL • ACCOUNTS MANUAL • CIVIL MANUAL • HR MANUAL

    25. PROPOSAL IMPLEMENTATION IN IFFCO FOR CONSIDERING WHETHER THE PROPOSAL IS WITHIN THE BYE LAWS AND ITS USEFULNESS FOR THE MEMBERS. DIRECTOR (COOP.DEVELOPMENT) P R O P O S A L T O B O A R D I M P L E M E N T A T I O N FLOW OF IDEAS ON ENHANCING BENEFIT TO MEMBERS FROMEMPLOYEES/ OUTSIDERS Q R M (QUARTERLY REVIEW MEETING) MANAGING DIRECTOR JOINT VENTURES MANAGING DIRECTOR FOR SCRUTINIZING AND FEASIBILITY STUDY PURPOSE TECHNICAL AGRICULTURAL SERVICES HR FOR CONSIDERATION OF BUDGET PROVISION ACCOUNTS

    26. FLOW OF DECISIONS IN IFFCO CHAIRMAN/VICE-CHAIRMAN & BOARD OF DIRECTORS MANAGING DIRECTOR DIRECTOR (COOP. DEVELOPMENT) DIRECTOR (JOINT VENTURES) DIRECTOR (HRD) FINANCE DIRECTOR MARKETING DIRECTOR DIRECTOR (TECH) Finance Accounts Audit Budget Payrolls Books Taxation Human Resource Administration Personnel Recruitment Training & Development Legal Industrial Relations Vigilance/Security Joint Venture Operations Plant Operations Logistics Real Estate IT Projects Marketing Sales Distribution/Transportation Agriculture Services Publicity Warehousing Port Operation Promotion of Hindi Coop. Relations Coop. Development Shares Board Corporate Social Responsibility EXECUTIVES ZONAL ADVISORY COMMITTEE FIELD OFFICES ZONAL OFFICE - 5 STATE ADVISORY COMMITTEE STATE OFFICE - 20 DISTRICT CONFERENCES AREA OFFICE - 63 COOPS. & MEMBERS

    27. EDUCATION TO BOARD MEMBERS • CHAIRMAN IS AUTHORISED FOR NOMINATION TO OTHER ORGANISATION. • PLACEMENT ON VARIOUS SPECIALISED COMMITTEES. • PLACEMENT AS “DIRECTORS” ON SUBSIDIARY INSTITUTIONS. • VISIT TO VARIOUS CONNECTED INSTITUTIONS. • ZONAL ADVISORY/STATE ADVISORY • FIELD PROGRAMMES • EXPOSURE TO VARIOUS CONFERENCES/SEMINARS/ INFORMATION SESSION WITHIN AND OUTSIDE THE COUNTRY. • TRAININGS

    28. ENRICHMENT TO DELEGATES • DELEGATES (MEMBERS OF REPRESENTATIVE GENERAL BODY ) ARE EXPOSED TO : • PLANT VISIT PROGRAMME TO SEE THE MAGNITUDE OF THE OPERATIONS. • SEMINARS/CONFERENCES/INFORMATION SESSION. • ZONAL ADVISORY/STATE ADVISORY/DISTRICT LEVEL CONFERENCES. • CROP SEMINARS/FIELD PROGRAMMS. • TRAINING PROGRAMMS.

    29. BOARD DECISIONS IN IFFCO • ALL DECISIONS IN THE BOARD ARE TAKEN BY ‘CONSENSUS’. • THE BOARD HAS NOT BEEN SUBJECTED TO “VOTING” THUS FAR ON ANY DECISION (EXCEPT VOTING FOR THE POSITIONS).

    30. CORPORATE SOCIAL RESPONSIBILITY • IFFCO FOLLOWS THE GLOBAL PRACTICES OF CORPORATE SOCIAL RESPONSIBILITY (CSR) COVERING THE ENVIRONMENTAL AND SOCIAL ASPECTS. • IFFCO HAS UNDERTAKEN ACTIVITIES IN THE AREAS OF COMMUNITY DEVELOPMENT, ENVIRONMENT PROTECTION, HEALTH CARE/MEDICAL FACILITIES AND LITERACY ENHANCEMENT/EMPOWERMENT PROGRAMME. • VILLAGE ADOPTION - BRING OVERALL SOCIO-ECONOMIC DEVELOPMENT IN RURAL AREAS. • IFFCO KISAN SEWA TRUST(IKST)- FOR THE WELFARE AND CRITICAL MEDICAL ATTENTION OF NEEDY FARMERS. • IFFCO FOUNDATION – FOR TECHNOLOGY TRANSFER., PRESERVATION & CONFEDERATION OF FOLK, ART & CULTURE. • CORDET- PROVIDE PRACTICAL TRAINING TO FARMERS. • INDIAN FARM FORESTRY DEVELOPMENT COOP. LTD.(IIFDC) - DEVELOPMENT OF WASTE LAND FOR TREE PLANTATION.

    31. E-GOVERNANCE • ESTABLISHMENT OF HRD AND IT FORUMS TO UNDERSTAND THE SUGGESTIONS AND OUTLOOK OF EMPLOYEES • CONNECTIVITY OF ALL THE FIELD OFFICES TO MONITOR THE OPERATIONS THEREBY PROMOTING TRANSPARENCY AND FAST COMMUNICATION E-PROCUREMENT • THE E-PROCUREMENT PROCESS AVAILABLE THROUGH IFFCO'S WEBSITE FOR REGISTERED VENDORS, ENQUIRIES ARE ISSUED TO THEM ELECTRONICALLY. • VENDORS CAN COMMUNICATE WITH IFFCO ON RELATED SUPPLY OF MATERIAL THROUGH THE WEB-SITE. • PO STATUS, DELIVERY STATUS, PAYMENT STATUS CAN BE OBTAINED ONLINE • THE SYSTEM INTRODUCES ONLINE SUBMISSION OF BIDS USING DIGITAL SIGNATURES • IFFCO WAS AMONG THE FIRST ORGANIZATIONS IN INDIA TO IMPLEMENT ITS ‘E-PROCUREMENT’ INITIATIVE.

    32. IFFCO - IN BRIEF • REGISTERED ON 3RD NOVEMBER 1967, AT THE INITIATIVE OF COOPERATIVE LEAGUE OF USA (CLUSA) NOW KNOWN AS NCBA; AND EFFORTS OF GOVERNMENT OF INDIA. • OWNED AND CONTROLLED BY MEMBER COOPERATIVES. • LARGEST MARKETER OF FERTILISERS IN THE WORLD. • GROWTH OF IFFCO

    33. JOINT VENTURES • IFFCO HAS ENTERED INTO JV- PROJECTS AND DIVERSIFIED INTO DIFFERENT AREAS:- • OMAN INDIA FERTILISER COMPANY (OMIFCO): • ANNUAL CAPACITY OF 1.6 MILLION MT UREA AND 0.25 MILLION MT AMMONIA • THE ACTUAL PROJECT COST USD 892 MILLION (SAVING OF USD 77 MILLION ON ESTIMATES) • INDUSTRIES CHIMIQUES DU SENEGAL (ICS) • IFFCO HOLDS ABOUT 20% OF THE PAID-UP SHARE CAPITAL. • UNDER LONG TERM BUY BACK AGREEMENT , 0.5 MILLION MT PHOSPHORIC ACID IS LIFTED BY IFFCO

    34. CONTINUED……. • IFFCO TOKIO - GENERAL INSURANCE COMPANY LTD ( ITGI) • SPECIAL INSURANCE SERVICES FOR FARMERS . • PHOSPHORIC ACID PLANT AT ESHIDYA IN JORDAN • THIS JV WILL MAKE AVAILABLE THE REQUIRED QUANTITY OF ROCK PHOSPHATE FOR IFFCO. • IFFCO KISAN SEZ’ AT NELLORE (ANDHRA PRADESH) • SETTING UP A MULTI-PRODUCT WITH PRIMARY FOCUS ON FOOD PROCESSING AND AGRI BASED INDUSTRIES.

    35. CONTINUED……. • INDIAN POTASH LIMITED (IPL) • IPL IS PRIMARILY ENGAGED IN TRADING OF IMPORTED POTASSIC AND NON-POTASSIC FERTILISERS . • LEGEND INTERNATIONAL HOLDINGS INC, AUSTRALIA (LEGEND) • IMPORT OF ROCK PHOSPHATE FROM LEGEND’S MINING PROJECT. • KISAN INTERNATIONAL TRADING FZE, DUBAI • TRADING IN RAW MATERIALS AND FINISHED FERTILISERS

    36. CONTINUED……. • AMERICAS PETROGAS INC, CANADA • OIL AND GAS FIELDS IN ARGENTINA AND POTASH RESERVES IN PERU. • IFFCO CHHATTISGARH POWER LTD. • IFFCO HAS ENTERED INTO POWER SECTOR BY INCORPORATING A JOINT VENTURE COMPANY WITH CHHATTISGARH STATE ELECTRICITY BOARD (CSEB) TO SET UP A 1000 MW COAL BASED MEGA POWER PLANT; THE COMPANY TO SUPPLY ELECTRICITY TO FARMERS AT A CHEAPER RATE.

    37. INITIATIVES FOCUSSING AGRICULTURE & RURAL DEVELOPMENT • PROMOTION OF COMMODITY TRADING IN INDIA THROUGH • NATIONAL COMMODITY AND DERIVATIVE EXCHANGE LTD (NCDEX) • NATIONAL COLLATERAL MANAGEMENT SERVICES LTD. (NCMSL) • SPECIAL INSURANCE SERVICES FOR FARMERS THROUGH IFFCO TOKIO GENERAL INSURANCE COMPANY LTD. (ITGI) • SANKAT HARAN BIMA YOJANA • BARISH BIMA YOJANA

    38. CONTINUED……. • IFFCO KISAN SANCHAR LTD. • TO STRENGTHEN RURAL TELEPHONY A JOINT VENTURE WITH AIRTEL • SUPPORT FARMERS THROUGH VALUE ADDED INFORMATION THROUGH MOBILE TELEPHONY • ENHANCING THE CAPACITY OF ITS MEMBER COOPERATIVE SOCIETIES BY PROVIDING THEM AN ADDITIONAL MEANS OF GENERATING INCOME. • INDIAN FARM FORESTRY DEVELOPMENT COOPERATIVE LTD. (IFFDC) • FOCUSES ON DEVELOPMENT OF WASTELAND. • UNDERTAKES ACTIVITIES LIKE PROMOTING PRIMARY FARM FORESTRY COOPERATIVES (PFFCS) TO ENHANCE THE SOCIO ECONOMIC STATUS OF RURAL POOR

    39. CONTINUED……. • IFFCO KISAN SEVA TRUST • A CHARITABLE TRUST WITH IFFCO’S CONTRIBUTION AND CONTRIBUTION BY IFFCO EMPLOYEES TO PROVIDE RELIEF AND REHABILITATION TO VICTIMS IN RURAL INDIA IN THE EVENT OF NATURAL CALAMITIES. • COOPERATIVE RURAL DEVELOPMENT TRUST (CORDET) • TO PROVIDE TRAINING TO THE FARMERS TO IMPROVE THEIR SKILLS IN AGRICULTURAL PRODUCTION, DAIRY, POULTRY, FISHERIES AND PROFESSIONAL LEADERSHIP AT VILLAGE LEVEL.

    40. THANK YOU !