Tamil Nadu - Vellore   

Rs. 37.60 crore of waived loan amount reimbursed

VELLORE: The State Government has paid Rs.37.60 crore to the 188 Primary Agricultural Cooperative Banks (PACBs) in Vellore district, towards reimbursement of the outstanding loan and interest overdues on farm loans to the tune of Rs.242.90 crore granted by them, which were waived by the government, according to G. Devaki, Regional Joint Registrar of Cooperative Societies, Vellore region.

Addressing a press conference here on Tuesday, Ms. Devaki said that the government has agreed to reimburse the waived amount in five instalments in four years. The government has already paid the reimbursement for three out of the four quarters for this year. The government is also paying an interest of eight per cent on the waived amount to the banks.

Asked what steps the Department of Cooperation has taken to rehabilitate the Vellore District Cooperative Printing Press, which had incurred losses, the Joint Registrar said that from this year onwards, the printing works of all cooperative institutions in Vellore district would be entrusted to the Cooperative Printing Press in order to enable it to improve its financial position. The Vellore District Central Cooperative Bank (VDCCB) has already decided to give all its printing orders to the Cooperative Printing Press, said Ms. Devaki, who is also the Special Officer-in-charge of the VDCCB.

Ms. Devaki said that a sales target of Rs.one lakh a month has been fixed for all branches of the Karpagam Cooperative Supermarket.

The cooperative fair price shops have been asked to improve their financial position by selling non-control items along with the levy items, she said.

Asked whether the government has paid compensation to the members of the erstwhile North Arcot District Cooperative Fruit Processing Society, whose land was taken over for the purpose of establishing the new mofussil bus stand in Vellore, she said that the government was still negotiating the amount to be paid to the members.

The Joint Registrar said that out of the 68 vacancies identified in the cooperative institutions, 58 were filled internally, while the remaining 10 were filled through the Tamil Nadu Public Service Commission. All vacancies of salesmen in fair price shops have been filled, she said.

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