Co-op bank flayed for collecting interest on repaid loan

Co-op bank flayed for collecting interest on repaid loan

Taluk Panchayat demands report on the matter within a week

Speaking at the KDP meeting held here on Monday, she said that a Self-Help Group in Karike had borrowed loan of Rs 1.50 lakh from the Co-opertive. As the Bank had directed the members to repay the loan every month, the members decided not to take up any activities and repay the loan amount. Hence, the SHG members repaid the entire loan amount with interest within a month. In spite of repaying the loan, the Cooperative Society has been collecting interest for the last one year from the SHG.”

Reacting to it, Cooperative department officials Jagadish said that he will look into the matter.


The horticulture department Assistant Director Pramod informed that 1,009 farmers have been selected for the ambitious Suvarnabhoomi scheme.

The scheme aimed at providing financial assistance to the small farmers. Majority of the farmers have been given the first installment cheque.

The agriculture officer said that the government provides subsidy to the farmers belonging to SC/ST group.

However, there are very few farmers belonging to SC/ST in Kodagu district. As a result, the schemes are not reaching the beneficiaries. As per the government order, the funds cannot be diverted to other programmes in the district. Majority of those belonging to SC/ST are farm labourers and do not own farm land in their name.

The officials from revenue and the food and civil supplies department remained absent to the meeting. Flaying the suspension of Village Accountants and Revenue Inspectors in the district, the officials had taken part in the protest and hence remained absent.

Taluk Panchayat EO M Sathyanarayana said all the department heads should provide progress report to the Taluk Panchayat every month.

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