Minister for transparent loan disbursement through cooperative societies

Minister for Co-operation I. Periyasamy (third left) inspecting the Chintamani Cooperative Stores in Coimbatore on Wednesday.   | Photo Credit: PERIASAMY M

Cooperative societies disbursing loans should make the disbursement process transparent, Minister for Co-operation I. Periyasamy said here on Wednesday.

A release issued at the end of his meeting to review the functioning of the department in Coimbatore said the Minister had asked cooperative credit societies, handloom credit societies, farmers’ credit societies and several such credit societies to ensure the loan disbursement process was transparent.

The State Government had taken steps to disburse loans totalling ₹11,500 crore through cooperative credit societies. Of that, the Government had earmarked ₹ 2,570.37 crore for self-help groups. And, to do so, it had planned to increase from 55,000 to one lakh the number of self-help groups it supported through loans.

Mr. Periyasamy asked the cooperative credit societies to enrol as members more farmers, small and medium entrepreneurs and students to increase loan disbursement, the release said.

The Minister asked all cooperative society officers to find out ways and means to improve business like starting medical shops. He appreciated the functioning of the Coimbatore District Central Cooperative Bank, the TUCAS and a few other cooperative institutions and promised to address their needs.

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Printable version | Sep 29, 2021 8:42:07 AM |

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