Special Correspondent

SHIMOGA: Chairman of the National Federation of Cooperative Banks (NAFCOBS) and State Cooperative Banks’ Federation H.K. Patil said on Sunday that even after several years of cooperative movement, poor people were yet to enjoy its benefits.

Speaking after inaugurating a branch of the City Cooperative Bank on JPN Road here, he said it was time for cooperative banks to rise to the occasion and help people of unorganised sectors in improving their economic conditions.

He said that staff of cooperative banks should find innovative methods to improve the services offered by their institutions. Moneylenders had more market share than the cooperative banks in lending. Only 2.2 per cent of the people had availed themselves of the loan facility in the State from cooperative banks, he added.

Minister for Energy K.S. Eshwarappa, who opened the strong room and safe deposit locker of the branch, lauded the management for opening its branch on JPN Road. Cooperative banks should reach farmers and poor sections of society, he added.

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