Coop banks asked to reach target in disbursing loans by March

Minister for Cooperation S T Somashekar on Sunday said that the cooperative banks in the state have been directed to reach the target of disbursing loans of Rs 20,810 crore to 30.86 lakh farmers by March 25.

He was speaking after inaugurating the head office of Atmashakthi Multipurpose Cooperative Society near Bairadi Kere in Mangaluru.

Of the targeted loan amount, already Rs 14,000 crore has been disbursed among 20 lakh farmers in the state, he said.

The minister said that there are 5,000 posts lying vacant in the cooperative sector in the state. Of which, already, 3,000 posts have been filled.

The recruitment process for the remaining posts will be taken up shortly. There are 60 to 70 posts vacant in DKMUL. Similarly, there are vacancies in DCC Banks and Urban Cooperative Banks, he added.

Further, he said that there are 260 Urban Cooperative Societies in the state. Owing to the alleged misappropriation of funds by a few banks, the cooperative sector has received a bad name.

The government has passed Karnataka Co-operative Societies (Amendment) Act. The cooperative leaders have placed a demand for a few more amendments, which will be tabled during the next Assembly, he added.

Atmashakthi Multipurpose Cooperative Society has carried out business transactions of Rs 858 Crore in the last 10 years.

Society president Chitharanjan Bolar, MP Nalin Kumar Kateel, Mayor Premananda Shetty, MLA Umanath Kotian, MLC K Harish Kumar and others were present.