Special Correspondent

Karnataka Cooperative Societies Act to be amended

Stamp papers to be sold in cooperative societies besides nationalised banks from February

Government wants to include journalists and folk artistes under Yeshasvini scheme

Gulbarga: The State Government proposes to amend the Karnataka Cooperative Societies Act so as to make provision for the three-phased elections to cooperative societies. The move is aimed at providing a fair opportunity to all the members at the hobli, taluk and district levels to take part in the elections at the apex level.

Minister for Cooperation Lakshman S. Savadi told presspersons here on Friday that because of the single-phase elections to all the cooperative societies at all levels, newly elected members at the hobli and taluk level cooperatives were unable to contest in the elections to the apex bodies because of the clash of election dates.

Mr. Savadi said an ordinance to this effect is being issued shortly according to which the election process to the cooperative societies up to the taluk level will have to be completed before March 31, the election to the district societies by April 15 and the elections to the State-level cooperative societies before April 15.

The elections to all the cooperative societies should have been completed by March-end. But due to the changes proposed in the process of holding elections in three phases, elections would be delayed this year.

Stamp papers

Mr. Savadi said that the Government has decided to sell the stamp papers through the district cooperative banks and its 9,000 plus branches in taluks in the State to ease the difficulty of the general public in getting the stamp papers from the authorised branches of the nationalised banks in the State.

The distribution of the stamp papers in the cooperative banks would begin from February. However, authorised branches of nationalised banks would also continue to sell the stamp papers to the general public.


Mr. Savadi said a meeting of the Trustees of the Yeshasvini Medical Insurance Trust and the leaders of the Opposition parties would be convened in Bangalore within a week to introduce major changes in the bye-laws of the trust to include other sections of the society, including journalists and folk artistes under the Yeshasvini Medical Insurance Scheme. The State Government would be requested to release another Rs. 10 crore for the purpose of meeting the additional expenditure.

In reply to a query, Mr. Savadi said the demand for the farm loans given at a subsidised rate of 3 per cent in the cooperative societies was growing.

He said he will seek an additional Rs. 100 crore in the next year’s budget for providing subsidy amount to the cooperative banks to meet the growing demand from the farmers.

During the current fiscal, crop loans worth Rs. 5,700 crore was released to 29 lakh farmers and during the next fiscal, it is expected that there will be demand for additional Rs. 2,000 crore crop loan.