Andhra Pradesh - Anantapur   

Unviable coop. credit societies told to shut shop

Staff Reporter

Experts committee serves notices on 122 out of 212 PACS

ANANTAPUR: As part of restructuring the cooperatives societies functioning under District Cooperative Central Banks, notices were issued to 122 out of 212 Primary Agriculture Credit Cooperative Societies (PACS) in the district. Only 90 PACS were found to be eligible for continuation. According to official sources, notices were served on 122 PACS in the district on June 21 and

they were given 20 days' time to file their objections. The PACS could conduct general body meetings of the members and file the objections. Otherwise, such PACS would be merged with the nearest viable PACS along with the staff.

After examining the financial viability of 212 societies by a task force committee and an experts

Committee, only 25 PACS in the district were found to be financially healthy. Apart from these healthy PACS, another 65 PACS, which were breaking even, were also recommended for continuation. Notices issued to the PACS about to be scrapped were being displayed in the gram panchayat and MRO's offices concerned.

Printer friendly page  
Send this article to Friends by E-Mail

Andhra Pradesh

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts: Classifieds | Employment | Obituary | Updates: Breaking News |

Stories in this Section

Unviable coop. credit societies told to shut shop

Copyright © 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu