Online edition of India's National Newspaper
Saturday, Nov 17, 2007
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Online edition of India's National Newspaper Saturday, Nov 17, 2007 ePaper |
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Tamil Nadu
“It is only the cooperative banks that are serving the people of villages” 
HELPING HAND: Minister for Cooperation, Ko.Si. Mani, handing over assistance to a beneficiary in Virudhunagar on Friday. (From left to right), Minister for School Education, Thangam Thennarasu, Minister for Backward Classes Welfare, K.K.S.S.R. Ramachandran, and the Collector, V. Chandrasekaran, are also seen. VIRUDHUNAGAR: Cooperative banks should improve financial management to face competition from the multi-national and other commercial banks, the Minister for Cooperation, Ko. Si. Mani has said. Addressing the 54th All India Cooperative Week celebrations here on Friday, the Minister said that though the MNC banks and commercial banks had stepped up competition in credit flow, their modernised operations had not penetrated the rural areas. However, it was only the cooperative banks that were serving the people of villages. Hence they should develop their skills in handling of finance, the Minister said. He added that the Dravida Munnetra Kazhagam Government had rehabilitated 199 primary agriculture cooperative banks, which were selected for “dissolution” during the previous regime. Seventeen banks among them in the Virudhunagar district had given a credit outflow of Rs. 65.81 crore, he pointed out. Following the efforts made by the Government, seven district central cooperative banks had grown to the position of getting recap from the nationalised banks. Another, the position of another five banks would be improved during the next year, he added. Stating that the Chief Minister, M. Karunanidhi, was showing keen interest in the development of cooperative banks, Mr. Mani said that the services of 25,000 temporary workers was regularised. Besides, the salary of ration shop employees was also revised. Giving away prizes to the best cooperative societies, the Minister for Backward Classes Welfare, K.K.S.S.R. Ramachandran, asked the people to repay all their loans properly so that others too benefited from the system. The Minister for School Education, Thangam Thennarasu, said that the Department of Cooperation was helping economic development in rural areas. The Collector, V. Chandrasekaran, said that 46,486 farmers in the district were benefited to the tune of Rs. 83.49 crores after the State Government waived cooperative loan for farmers. A total of Rs. 1.05 crore loan have been given under the Tamil Nadu Backward Classes Economic Development Corporation scheme and Rs. 55 lakh under the Tamil Nadu Minorities Economic Development Corporation. The Regional Joint Registrar of Cooperative Societies, M. Sivasekaran, spoke.
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