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Attempt to strengthen cooperative societies

JOINT REGISTRAR, Cooperative Societies BD Mishra said here on Thursday that to strengthen the societies, the State government had decided to implement the suggestions of the Vaidyanath Committee and to extend help to the cooperative societies. Delivering his views in the district cooperative bank meeting, Mishra said that in the first phase, the State government had identified 27 district cooperative banks struggling hard for survival.
None | By HT Correspondent, Gorakhpur
PUBLISHED ON JUL 28, 2006 12:20 AM IST

JOINT REGISTRAR, Cooperative Societies BD Mishra said here on Thursday that to strengthen the societies, the State government had decided to implement the suggestions of the Vaidyanath Committee and to extend help to the cooperative societies.

Delivering his views in the district cooperative bank meeting, Mishra said that in the first phase, the State government had identified 27 district cooperative banks struggling hard for survival. The government would provide Rs 42 crore to these banks as financial help. Gorakhpur and Basti Cooperative Banks would get Rs 1 crore each under the scheme while Siddharth Nagar Cooperative Bank had been allocated Rs 2.50 crore.

Mishra said that inactive cooperative societies would be revived under the programme and Rs 8 crore had been allocated as government aid to revive these societies. Every inactive cooperative society would get Rs 40,000 as financial help. He claimed that the Mulayam Singh government had cleared the long pending salaries of the secretaries of agriculture cooperative societies and earmarked Rs 13.81 crore to clear their dues.

Mishra expressed the hope that with these schemes, the cooperative societies would be revived and the cooperative movement would move forward in the right direction. He informed that as per the suggestions of the Vaidyanath Committee, 90 per cent of the funds would be provided by the Union government while 10 per cent would be allocated by the State government.

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