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Report on co-op. banks to be implemented in December

Special Correspondent

`Vaidyanathan panel report gives new direction to the movement'

SHIMOGA: Shimoga District Central Cooperation Bank President R.M. Manjunath Gowda said here on Monday that the Vaidyanathan Committee Report, which was expected to give a new direction to the cooperative movement, may be implemented by the Centre by December end.

Mr. Gowda was inaugurating the "Cooperation Week" organised by the State Cooperative Federation, District Cooperative Union and Cooperation Department at Sugur near here. He said the Vaidyanathan Committee report will bring about changes with far-reaching consequences in the functioning of the cooperative societies doing away with the Government's interference in them as there is no provision for nominated members.

Action

He said the plan of action is being formulated by the Centre to rejuvenate loss-making cooperatives under the provisions of the Vaidynathan Committee Report by making a provision for Rs. 15,000 crores for it. Mr. Gowda said the bank had advanced crop loans of Rs. 145 crores this year at the rate of 6 per cent interest and it is proposed to sanction an additional loan of Rs. 25 crores.

Women's participation

He said the participation of women in the cooperative institutions had increased considerably following the spurt in the activities of women's self-help groups and added that it is proposed to build a shopping complex on the premises of the cooperative here to enable women's cooperative societies to sell their goods.

Deputy Registrar of Cooperative Societies Eshwaraswamy was the chief guest.

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