Co-ops have helped society: MP

Special Correspondent

NAGAPATTINAM: Banks are ready to give loans to women because of the high recovery rate of nearly 99 per cent in the State. Women SHGs should use this to bring all-round development to villages, A.K.S.Vijayan, MP, said at Kilvelur on Wednesday.

Speaking at the function celebrating the 55th National Co-operative Week, Mr. Vijayan said that the co-operative movement had benefited society in various ways and that the government was committed to provide support for it.

Dairy Minister U. Mathivanan said that the present government had given a boost to the co-operative movement by writing off loans of Rs. 7,000-crore. Farmers should try to use this waiver to create self-dependence by availing of future loans and paying them off regularly.

The Minister advised bankers to schedule their recoveries to coincide with the harvest time. Farmers and women SHGs, who had benefited mostly from the co-operative societies, should co-operate and understand the pressures on the societies.

M. Jayaraman, Collector, said that co-operative societies were important for successful administration because they met people on a regular basis. Housing, women entrepreneurship, and petty shop loans were being provided and fair price shops were addressing the need to maintain prices all through the co-operative department.

T. Loganathan, Special Officer, Kumbakonam Central Co-operative Bank said that co-operative banks had already disbursed Rs. 26.45 crore worth of loans to farmers, achieving 79 per cent of the target set for the current financial year. More than 750 farmers’ groups had also been formed and loans were being disbursed to them, he said.

M. Sivasekaran, Joint Registrar, Co-operative Societies, Kilvelur panchayat chairman and others participated in the function.

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