Special Correspondent

JAIPUR: A tripartite agreement among the Rajasthan Government, Apex Cooperative Bank and the National Bank for Agriculture and Rural Development (NABARD) was signed here on Saturday to strengthen the short-term cooperative credit system in the State.

The agreement has set the targets for scaling up the Apex Bank’s advances for loans and income from various funds, controlling the management expenses and expanding the loan business. The target for realisation of loans has been fixed at 98 per cent.

While Principal Cooperative Secretary Chandra Mohan Meena signed the agreement on behalf of the State Government, the signatories on behalf of the Apex Bank and NABARD were Managing Director Avinash Ranvah and Chief General Manager K. Muralidhar Rao, respectively. A similar tripartite agreement among the State Government, NABARD and the central cooperative bank is likely to be signed shortly for laying down the road map for work by 2012.