Karnataka - Belgaum   

Conference of Souharda cooperative societies

Belgaum: The State-level conference of Souharda cooperative societies, to be held in Bangalore on August 21, will provide a platform for those concerned to come out with suggestions and ideas to overcome the problems confronting the cooperative movement in the State, said Manohar Maski chairman of the Karnataka State Souharda Federal Cooperative Ltd.

He told presspersons here on Sunday that the conference was being organised to elicit suggestions from cooperators and experts and present them before the Government to bring changes in the Karnataka Souharda Sahakari Act, 1997.

Though the Act was passed mainly to reduce the Government’s interference in the management of cooperative societies/banks, certain amendments were needed to achieve its objectives, he said.

Mr. Maski, who is also chairman of the Sindhnur Urban Souharda Cooperative (SUCO) Bank, said the merger of Hubli-based Vardhaman Cooperative Bank with the former was in final stage.

The regional office of the Reserve Bank of India in Bangalore had approved the merger proposal and the matter was under consideration of the central office of the RBI in Mumbai. He hoped that the RBI would accord its approval for the merger in a month.

Also, the SUCO Bank, which had signed a memorandum of understanding with the Katkol Cooperative Bank in Belgaum for its merger with the latter about six months ago, would seize property of 144 “wilful defaulters”, he said.

These defaulters had failed to repay non-agricultural loan taken from the bank, he said and added that notices and reminders were sent to them six months ago, but none of them responded. The due was estimated at Rs. 1.92 crore, he said. He said the bank authorities would start seizing property from Monday from Katkol town in the district. Police had been informed about this, he added.

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