Karnataka - Hubli-Dharwad   

MLC seeks steps for revival of bank

Special Correspondent

Urges Chief Minister to convene meeting to discuss issue

HUBLI: Basavaraj Bommai, MLC and Chairman of the Parliamentary Board of the Janata Dal (United), has urged Chief Minister N. Dharam Singh to convene a meeting of the officials concerned to formulate a plan for the revival of the Karnataka Cooperative Central Bank, a cooperative central bank which serves the districts of Dharwad, Gadag and Haveri.

Mr. Bommai has said this in a letter to the Chief Minister even as the month-long dharna by the KCC Bank Hitarakshana Sangha continues.

He noted that the revival of the bank is necessary for the economic development of the three districts.

Irregularities

The bank, Mr. Bommai said, is in the red because of continued drought for the past five years and irregularities.

Mr. Bommai drew the attention of the Chief Minister to the fact that Rs. 25 crores earmarked for the revival of the bank way back in 2002 has not been fully released.

Only Rs. 6.25 crores towards interest waiver has been released, he said.

Share capital

The State Government is yet to redeem the commitment made during the cooperative centenary celebrations held at Kanaginahal of releasing Rs. 10 crores towards the share capital of the bank, he said.

The Government is also due to pay the interest waiver from April 1 to June 30 for which a budgetary provision of Rs. 500 crores had been made, Mr. Bommai noted.

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