The Farmers’ Debt Act which was in place for the benefit of farmers earlier, must be brought into force, said former minister and co-operative leader M C Nanaiah.

Speaking after inaugurating the branch of Kodagu District Businessmen’s Co-operative Association at Vyavasaya Seva Sahakara Bank building on Friday, he said the instances of farmers committing suicide in the State after failing to repay the loan taken from co-operative banks are few, but more cases of suicide have been reported wherein farmers have availed laons from private financial institutions. In this backdrop, government must initiate steps to check exploitation of the public by private financial institutions. However, the domination of middlemen in the co-operative field must be avoided, he suggested.

In the name of looking after tourists, the increasing trend of home stays which is adversely affecting the atmosphere in the district must be checked, he added. 

Former MLA K G Bopaiah said businessmen must respond to the needs of the society along with making efforts for developing their business.

Association founder president G Rajendra said businessmen must more frequently avail loans from co-operative banks. 

District Co-operative Central Bank President M V Ramesh said the co-operative field and co-operative banks play a pivotal role in the lives of common man. Co-operative Association Myore division joint manager K S Himavanth Gopal said co-operative banks must retrieve loans as effectively as giving credit. Association President Babuchandra Ullagaddi said Association former president B R Nagendra Prasad, spoke introductorily. Co-operative Association district deputy manager Mohammed Jafrulla Khan inaugurated the computer section. District Businessmens’ Association President K B Gireesh Ganapati, Association local committee president K S Rajashekhar, former president S K Satish, secretary K J Sateesh and association director S I Muneer Ahmed were present.