Friday, Jul 16, 2004
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Advts: Classifieds | Employment | Andhra Pradesh
By Our Special Correspondent
HYDERABAD, JULY 15 . The Cooperation Minister, Kanna Lakshminarayana, on Thursday said elections to primary cooperative credit societies would be held soon after the ongoing exercise of restructuring and reviving these societies was completed. During question time, the Minister told G. Kishan Reddy of the BJP that, on the basis of a report submitted by the expert committee on credit structure headed by the former Managing Director of the National Bank for Agriculture and Rural Development (NABARD), P. V. A. Rama Rao, a plan of action to strengthen cooperative societies was under consideration. Mr. Lakshminarayana said the previous Telugu Desam Government had neglected the cooperative sector, adding that the present Government was committed to reviving it. He said the Government was pursuing the proposal on the amalgamation of the Prudential and Vasavi Urban Cooperative Banks with the State Bank of India, and was, at the same time, studying alternatives. He said the revival of the two banks "should not be a problem," as they had more assets than liabilities, and their recoveries were good.
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