Kerala - Alappuzha   

Cooperative deposit mobilisation drive on

ALAPPUZHA: Cooperation Minister G. Sudhakaran has called upon cooperative societies, the Agriculture Department, and local governing bodies to combine and make the most of the four per cent interest on loans offered by the government for paddy and vegetable cultivation projects.

Inaugurating the month-long State-level cooperative deposit mobilisation drive, titled ‘Sahakarana Nikshepam Keraleeyam-2007’ here on Friday, the Minister said the cooperative movement in Kerala was a model for all similar movements in the country. The cooperative sector here, he said, had set examples by waiving loans of farmers who committed suicide in the State. The government had set aside Rs.1.88 crore for this purpose. However, nationalised and scheduled banks were yet to follow suit.

On the mobilisation drive, Mr. Sudhakaran said the total deposits with the cooperative sector when the Left Democratic Front (LDF) government came to power was Rs.22,000 crore. With two similar deposit mobilisation drives in the last 17 months, the total deposit had shot up to over Rs.32,000 crore.

The government would henceforth observe the month of November as a deposit mobilisation month in the cooperative sector to make all the credit cooperatives stronger, he said.

M. Murali and A.M. Arif, MLAs, Municipal chairman P.P. Chittaranjan, Registrar of Cooperative Societies Rani George and others were present.

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Cooperative deposit mobilisation drive on

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