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Tamil Nadu
NABARD to refinance Pudukottai Cooperative Bank
Staff Reporter
PUDUKOTTAI: The Pudukottai Central Cooperative Bank (PDCCB) would be brought out of the red with re-finance by National Bank for Agriculture and Rural Development (NABARD), Union Minister of State for Environment and Forests S. Regupathy said.
Speaking at a function to mark the 54th All India Cooperative Week celebrations here on Sunday, he said that the PDCCB was registering heavy losses and had even been black-listed.
However, steps would be taken to restore its financial stability under the re-finance programme of the NABARD.
Mr. Regupathy appealed to the borrowers to be prompt in re-paying the loans to the banks.
Joint Registrar of Cooperatives R. M. Jayampandian said it had been planned to revive eight primary agricultural cooperative banks in the district with a special allocation of Rs.9.75 crore.
The banks would be revived as soon as funds were sanctioned by the State government.
He also distributed prizes to the best cooperative societies and banks in the district.
Collector D. Uthirakkumaran, Special Officer of PDCCB Ramanidevi and MLAs Udhyam Shanmugam, R.M. Subburam, S. Rajasekaran were among those who spoke.
Perambalur
Distribution of shields to a total of 27 cooperative societies and banks with record performance during last financial year marked the highlight of the All India Cooperative Week celebrations here on Sunday.
Collector Anil Meshram, who gave away the shields, also distributed loans to the tune of Rs.21.62 lakh to women members of 35 self-help groups and others.
Loans of Rs 23.6 crore sanctioned
Mr. Meshram said that crop loans to the tune of Rs. 23.6 crore had been sanctioned to the farmers so far during the current financial year to the farmers.
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