ANDHRA PRADESH

Cooperative meet to discuss ways to strengthen movement

Special Correspondent

VISAKHAPATNAM: The Andhra Pradesh State Cooperative Union and the Andhra Pradesh State Cooperative Urban Banks' Federation are jointly organising the `Cooperative Conference 2005' in Hyderabad on July 16 and 17.

All the issues pertaining to cooperative institutions and making members and elected representatives understand well the cooperative movement and ensure that the institutions functioned as self-sustained, democratic and professionally efficient institutions will be discussed at the conference, the vice-chairman of the reception committee and chairman of the local Kanakamahalakshmi Cooperative Bank, P. Raghunadha Rao, told a press conference here on Saturday.

The conference will be inaugurated by the Governor, Sushil Kumar Shinde.

The memorandum of understanding signed recently between the Reserve Bank of India and the State Governments should benefit the banks, Mr. Raghunadha Rao said. A task force consisting of two representatives each from the RBI, the State Government and cooperative urban banks (one from all-India association and another from the State association) will examine the cooperative urban banks' functioning.

On the Kanakamahalakshmi Bank, its chairman predicted a good future with its profits expected to go up by Rs.25-30 lakhs this year compared to previous year's Rs.41.80 lakhs.

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