Savadi for stringent co-operative society rules

Savadi for stringent co-operative society rules

Speaking at the valedictory of 58th All India Co-operation Week here on Sunday, he said the Government is working towards streamlining HCSs by bringing in certain amendments to the Co-operative Societies Act.

The minister, however, did not elaborate the Government’s plan in this regard.

“The role of housing cooperative societies in providing residential sites to people is commendable. But housing cooperative societies should strictly adhere to the rule book while allotting sites to the members,” he said.

Besides, Savadi said the Co-operation department has rescued about 17 lakh farmers from falling into the debt trap, by providing them with crop loans at lower interest rates in the last three years.

Short-term loans

Short-term crop loans to the tune of about Rs 4,700 crore have been disbursed in the last three years. If not, the farmers, majority of small and marginal, would have borrowed money from the local money-lenders at exorbitant interest rates, he added.

Karnataka Pradesh Congress Committee President G Parameshwara said the Government should extend necessary help to credit co-operative societies to undertake housing projects.

Credit co-operative societies are located in every nook and corner of the State. If they are empowered to take up housing projects, it will help the poor and the middle income group people to own a residential site, he added.