'5,000 new co-operatives to be opened in 5 years'

There is a target to open 5,000 new Sauharda cooperative branches in next five years, said Karnataka State Souharda Federal Cooperative Limited (Bangalore) Director S R Sathishchandra.

He was speaking at the annual meeting of Chief Executive Officers of Sauharda Cooperatives of the district in Mangalore on Wednesday.

He further said that the Sauharda Act was made applicable by the Central Government to all states in 2001 as per the 97th amendment of the Constitution, after including 90 per cent of the points in the erstwhile KSCS Act 1959. 

As per the latter Act, it is mandatory to carry out professional audit and achieve a minimum of 20 pc business in the respective cooperative branches. Sakala scheme will be implemented through Sauharda cooperatives in coming days, he said.

Sathishchandra said that Sauharda Cooperative is a multi-state organisation and has outlets in the United States and England. There are a total of 2,586 Sauharda cooperatives in the State with 18 lakh membership. The organisation includes credit, multipurpose, self-help, agriculture, employee, industrial, housing and education co-operatives.

Constituting of general bodies has been one of the main priorities and elections are conducted by the separate election commission meant for cooperatives, in order to streamline the cooperative sector, he added.

Campco Director Radhakrishna Kote inaugurated the programme and said that before the year 2000, the cooperative sector was marred by political interference and other problems. But after Karnataka Sauharda Act was brought into effect in 1997, the activities of cooperatives have gained momentum and now the cooperative sector is in the path of progress. 

Kote further said that Cooperative sector is carrying out a significant job of imparting education to people. He further said that Cooperatives is one of the tools for economic development. 

Souharda Federal Cooperative Deputy Chief Manager Shrikanth, Mysore Divisional officer Shivkumar Biradar and Souharda Federal Cooperative Uttara Kannada district Auditor Subrahmanya Hegde were present.