Former union minister V Srinivas Prasad said on Wednesday that co-operative sugar companies were in the red because of the financial indiscipline that they were prone to.
      Prasad was speaking after inaugurating a free health check up camp organised by the Mysore Co-operative Bank, for its members at the Kamakshi Hospital in the city.
     The situation was no different in government-run sugar factories dogged as they are by various ills. Private sugar companies on the other hand were running on profit.
But the Mysore Co-operative Bank, presented a different picture, with a healthy growth over the years thanks to the financial discipline it has been able to maintain.
 The bank has been in the forefront of organising eye check up camps, distributing scholarships to poor students besides providing Rs 5,000 for performing the final rites of dead members.
The former minister also lauded the services of the Kamakshi Hospital in providing treatment to poor people at affordable fees.
 In his speech, journalist K B Ganapathy, who was the chief guest, said corruption right from the top level was eating into the very vitals of the co-operative sector.
MLA Shankarlinge Gowda, BSMS Trust President Vinod Rai, former chairman of the bank B N Kenge Gowda, current chairman P Nagaraj, hospital administrative officer K R Kamath and others were present.