The Hindu : Tamil Nadu / Chennai News : Rs.3304.42 crore released to coop. credit institutions

Online edition of India's National Newspaper
Wednesday, Apr 09, 2008
ePaper | Mobile/PDA Version

Tamil Nadu

Tamil Nadu - Chennai

Rs.3304.42 crore released to coop. credit institutions

Special Correspondent

CHENNAI: The government has so far released Rs.3304.42 crore to cooperative credit institutions over the past two years to make good the shortfall following the farm loan waiver, Cooperatives Minister Ko.Si. Mani said on Tuesday.

Replying to the debate on the demands for grants for his department, he said the interest component in this was Rs.686.86 crore.

“We will release the balance amount in the next three years as per our commitment,” he said and added that the Centre had chosen to follow in its footsteps with a similar scheme because of the success of the waiver scheme in Tamil Nadu.

In 2006-07, primary agricultural cooperatives gave Rs.1250.62 as crop loans and Rs.3082.2 crore as other loans.

In 2007-08, till March 26, the total crop loans given was Rs.1323.2 crore. Other loans (as on end-February) amounted to Rs.3254.68 crore during the year.

On elections to cooperatives, he said a plethora of cases were being heard in various courts. Once these were settled, the government was willing to hold elections. The cooperatives operated a large chunk of the PDS retail outlets.

He said the Department planned to introduce electronic weighing machines in all shops in a phased manner.

On the demand from some members to transfer secretaries of primary cooperatives periodically so that they did not indulge in any wrong doing, he said any employee who committed an act of indiscretion should be punished.

There was no point in merely transferring him. “He will merely shift his activities to another place,” he said.

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

Tamil Nadu