NABARD has urged the cooperative agricultural rural development banks and land development banks to submit their suggestions on the Vaidyanathan Committee report.
The Government of India has given a go-ahead for the implementation of report, aimed at reviving the dying rural cooperative credit institutions in the country.
Vaidyanathan Committee had submitted its report on Short Term Cooperative Credit structure during February 2005. According to an official release, a package of Rs. 13,596 crore recommended after consultation with the state governments, had been approved by the Union Cabinet.
The implementation process of the package is expected to take off shortly. The Central Government had also entrusted the committee to suggest a revival plan for long-term cooperative credit structure.
The committee was asked to suggest measures to assess the plans and performance of cooperative Agricultural Rural Development Banks and Land Development Banks and, on measures to revive the Agricultural and Rural Development Banks engaged in long-term lending for agriculture and rural development.
The subsequent report had been submitted to the Union Finance Minister last December. The draft report has been put on the following websites for the public- www.finmin.nic.in, www.rbi.org.in and www.nabard.org.
All stakeholders may provide their valuable suggestions via e-mail by January 21 at email@example.com.