At a time when many cooperative societies are badly hit due to the poor recovery rate of the loan dues, Perakambi Primary Agricultural Cooperative Credit Society in Manachanallur block has registered cent per cent recovery rate for many years over the last decade.

“It is instant sanctioning of the loans without sitting on the procedures and the persuasion tactics adopted by the society staff by explaining the government policies that led to recovery of the entire loan dues in time”, says P. Padmaraju, secretary of the society.

The Perakambi Society, which came into being in 1962, accounted for 2,247 members, including 568 SC members and 677 women. It covered the villages of Perakambi, Siruganoor, C. R. Palayam, Seethevimangalam and Maniyankurichi, where cotton, onion and lemon are the major crops.

The society recovered the entire loan dues of Rs. 1.49 crores that stood outstanding as on March 31, 2010, to record cent per cent achievement. The Society had set similar records four times in the last one decade in the years 2002-03, 2003-04, 2004-05 and 2006-07.

Mr. Padmaraju said that sincere steps are taken to sanction the loan within days of receipts of the application for the same, as delay will not help the farmers in commencing farm operations. The state government’s decision to waive the whole interest of the farmers who promptly repaid the loan dues has come handy for the society in getting back the dues in time. “We regularly remind the members of the society of the above order and this has immensely benefited both”, Mr. Padmaraju says.

The Cooperation Department has commended the achievement of the Society and Rama Jayampandian, Regional Joint Registrar of Cooperative Societies honoured Mr. Padmaraju at a brief function held in the city on Monday, in the presence of C. Muthamizh Selvi, Cooperative Sub-Registrar and S. Mathivanan, Special Officer, Tiruchi District Cooperative Union.

Speaking on the occasion, Rajamanikkam, special officer, said that the society during 2009-10 had extended Rs. 42.30 lakh as crop loan, Rs. 1.63 crore jewel loan and Rs. 3 lakh as medium term loan.