Other States - Uttar Pradesh   

Rs. 2,400 cr. grant for cooperatives

Jaunpur: The Centre will pump in Rs 2,400 crores for streamlining the cooperative movement in Uttar Pradesh, in pursuance of the Prof A. Vaidyanathan Committee recommendations.

U.P. Minister of State for Cooperatives Shardanand Anchal told newspersons here on Thursday that the Centre will pump Rs 2,400 crores for bolstering the cooperative movement in the State.

This has been possible only after U.P. became first State in the country to implement recommendations of Prof A. Vaidyanathan Committee on Cooperative Sector reforms, he added. A matching grant of 20 per cent will be provided by the U.P. Government in line with the Committee recommendations, Mr Anchal said.

On the overall cooperatives scene in the State, the Minister said the cooperative banks in 10 East U.P. districts were in turgid state and a sum of Rs 2.5 crores has been provided to bail out each of these banks. A sum of Rs one crore has also been earmarked for each of other 17 cooperative banks in the same region, Mr Anchal added.

Mr Anchal further informed that funds worth Rs 40 crores have also been forked out for reviving the closed cooperative bank in Gonda district of East U.P. and provision of salaries to the secretaries of other cooperative sector banks. -- UNI

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

Stories in this Section

Rs. 2,400 cr. grant for cooperatives

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu