The Hindu : Kerala / Kozhikode News : Paddy farmers to get interest-free loans from cooperative banks

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Paddy farmers to get interest-free loans from cooperative banks

Staff Reporter

KOZHIKODE: The State government will not bring about any changes that will cripple the democratic functioning of the cooperative sector, Cooperation Minister G. Sudhakaran has said.

Mr. Sudhakaran was speaking after inaugurating the EMS Academy of Homoeopathy Education and Research Centre set up at the Kozhikode District Cooperative Hospital at Cheruvannur here on Friday.

On the other hand, the progressive changes recommended by the Vaidyanathan Committee would be implemented. (The Vaidyanathan Committee was set up by the Centre to study the cooperative sector and suggest changes for modernising the cooperative societies).

He said a memorandum of understanding for modernising the urban banks would be signed shortly.

Describing it as an achievement of the government, the Minister said the total deposits in the cooperative sector in the State had risen to Rs.40,000 crore from Rs.23,000 crore two years ago.

C.P. Balan Vaidyar, president of District Cooperative Homoeo Hospital, presided over the programme.

Mr. Sudhakaran said cooperative banks would provide interest-free loan to farmers for cultivating paddy.

The assurance came from the Minister at a programme held in connection with the inauguration of a women’s cooperative society at Chengottukave here today.

The cooperative institutions would also ensure that paddy was sold at profitable prices. The cooperative sector had envisaged a programme under which loans to the extent of Rs.25,000 would be given to farmers at 4 per cent interest.

P. Viswan, MLA, presided. T.V. Girija, society president, presented the report.

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