Govt will set up coop society in every GP for bank activities: Min

Mysuru: Cooperation minister KN Rajanna on Sunday said that the Siddaramaiah government has decided to set up a cooperative society in every gram panchayat to facilitate cooperative-related banking activities across the state.He was speaking after unveiling the plaque at the centenary celebrations of the Graduates Cooperative Bank. He said the intention behind formation of these societies is to bring people of all communities, irrespective of their economic and social background, under the cooperative banking sector to avail facilities provided by the bank.Shareholders of these societies can enjoy all facilities like interest free, subsidised loan up to Rs 5 lakh and crop loan. The government will also distribute seeds, chemicals and fertilizers and promote other community activities under these societies.The minister said that he has issued directions to the department officials to complete the process of opening the coop societies at least one such society at the GP level. Though there are more than 5,991 gram panchayats, many of the GPs do not have such societies.He suggested the Graduates Cooperative Bank to utilise Rs 18 crore welfare fund it has reserved to utilise for the welfare of the shareholders health and education. Social welfare and Mysuru district minister HC Mahadevappa asked cooperative bodies, institutions to come up with inclusive initiatives to involve all communities to enjoy government facilities. He said that Karnataka is the cradle of cooperative movement in the country. Former minister and MLC AH Vishwanath appealed to the government to resume the distribution of ‘Sahakara Ratna’ awards he had introduced when he was the cooperation minister to honour best cooperatives.MLC Marithibbegowda asked the government to stop making government nominated members as the head of cooperative bodies. The government must also stop interfering with the functioning of cooperative bodies, he said.Chairman of the Graduates Cooperative Bank Srinivasa, MLA TS Srivathsa, mayor M Shivakumar and former MUDA chairman HV Rajeev were present.