KARNATAKA

Cooperatives have spurred rural growth in Salem, says Minister

Staff Reporter

SALEM: The cooperative institutions in the state have contributed immensely to the overall growth of rural areas, Social Welfare Minister, Vijayalakshmi Palanichamy said.

Participating in the Cooperative Week celebrations here on Saturday, she said all the co-operative institutions in the state were functioning well and addressing the needs of various sections of society like weavers, farmers, milk producers and consumers. They had implemented several developmental programmes including assistance schemes of the State Government.

While pointing out the performance of several cooperative institutions, he said the Salem District Central Cooperative Bank was selected as the best co-operative bank at the national level and received an award from the Central government. This 96-year-old bank had earned a net profit of Rs. 5 crores.

Collector, A. Sukumaran said 1,182 co-operative institutions were functioning in the district. The Salem Cooperative Consumer Wholesale Store was selected as the best cooperative wholesale store in the state. "The 63-year old store has 17 branches. The working capital of the store is 75.85 lakhs and it's annual turnover accounts for about Rs. 44 crores."

The Salem and Attur agriculture producers cooperative societies had produce worth Rs. 31 crores this year.

The primary agriculture cooperative banks had lent Rs. 219.69 crores as crop loans, 93.19 crores as non-agriculture loans and Rs. 1,970.53 crores as jewel loans.

Awards

He presented awards to 33 cooperatives, which were selected as the best institutions based on their performance, and 25 individual awards.

She also disbursed a loan assistance of Rs. 10.12 lakhs to 155 beneficiaries.

Joint Registrar of Co-operatives, A. Sankaralingam and Salem Corporation Mayor, R. Sureshkumar also spoke.