Tamil Nadu

21 farm cooperatives to be made urban credit societies

more-in

Reflecting the growing urbanisation in the State, 21 primary agricultural cooperative credit societies (PACCS) in six districts will be converted into urban credit cooperative institutions.

Announcing this in the Assembly on Friday, Cooperation Minister Sellur K. Raju, who replied to the debate on the demands for grants for the Cooperation, Food and Consumer Protection Department, said that as the areas served by the PACCS, located in the vicinity of big towns, did not have farm lands, the societies were not in a position to provide crop loans.

By making the PACCS urban cooperative credit societies, people living in these areas would be able to get housing loans, house mortgage loans and jewel loans. The 21 PACCS were now functioning near the limits of municipal corporations of Coimbatore, Madurai, Salem and Tirupur besides those of the municipalities of Cuddalore and Kancheepuram.

Initiating the debate, Mr. Raju informed the House that two years ago, 10 PACCS operating in the suburbs of Chennai and Coimbatore – six in Kancheepuram district and four in Coimbatore – were made into the urban cooperative credit societies. Now, there were 53 urban cooperative credit societies, which disbursed loans to the tune of Rs. 787.47 crore to nearly 1.68 lakh members last year.

The Minister said that since the present government assumed office three years ago, the cooperative institutions gave interest-free crop loans of about Rs. 12,066 crore to around 29.83 lakh farmers. This year, the government fixed a target of Rs. 5,000 crore for crop loans and Rs. 200 crore for interest incentive.

As regards “Amma Marundhagam” (Amma pharmacy), the Minister said 100 outlets would be set up by cooperative institutions in addition to the existing 210 shops. In June, Chief Minister Jayalalithaa inaugurated 10 such pharmacies, offering a discount of 10 per cent to 15 per cent. During 2012-13, the value of sale of medicines by the already existing shops was Rs. 64.97 crore, which went up to Rs. 79.42 crore between April 1, 2013 and June 30, 2014, the Minister added.

Why you should pay for quality journalism - Click to know more

Related Topics Tamil Nadu
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jan 29, 2020 8:34:29 AM | https://www.thehindu.com/news/national/tamil-nadu/21-farm-cooperatives-to-be-made-urban-credit-societies/article6228117.ece

Next Story