'Govt would releases pending aid of ` 16 cr to DCC bank'

Higher Education Minister C T Ravi promised to ensure that the government releases pending assistance of Rs 16 crore to the DCC bank.

Speaking after inaugurating 59th All India Cooperative Week, at DCC Bank hall in Chikmagalur, on Wednesday, he said if the financial assistance is not released, then it will affect the functioning of the cooperative societies.

Primary Land Development Bank which were coming to the rescue of farmers are suffering. There is a need to revive the banks.

“There is a need to undestand the meaning of cooperation and work towards creating sustainability in society.

With the implementation of Prof Vaidyanathan committee report, autonomous status has been given to the cooperative societies. We need to implement the objective of cooperation fully in the cooperative societies, to preserve it.

The success and the failure of the cooperative societies are in the hands of the administrative board.

“There is a need for transparency in the public sector. The principles of cooperation should be implemented to work with dedication,” the Minister said.

District Cooperative Union President K T Venkatesh said that there is a need to imbibe the quality of honesty and discipline among the co-opeartives.

District Cooperative Union Managing Director K M Asha explained the need to observe cooperative week. Mamcos Director R Devananda said that the direct tax system which has been introduced by the Centre should be suspended.

There is a competition between corporates and cooperatives. Whether cooperative societies have the investment of the corporate sector.

Is it possbile to compete with the corporates? he asked and urged the government to come to the help of the cooperatives.

Coopearative societies Deputy Registrar K M Shivakumaraswamy, District Cooperative Union Director Nagaraj and others were present.