FMs meet discusses revital plan for coops

The meeting of the FM of select states discussed the finalisation of revitalisation package for short-term cooperative credit structure.

The meeting of the Finance Ministers of select states held in New Delhi on Thursday under the chairmanship of Finance Minister P Chidambaram discussed the finalisation of revitalization package for short-term cooperative credit structure.

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The meeting, which was attended by finance ministers of Maharashtra, Karnataka, West Bengal, Andhra Pradesh and Arunachal Pradesh, also agreed on issues of regulation and legal and institutional reforms, deposit guarantee and special audit, an official release said.

A Draft statement of consensus will now be forwarded to all the states and Union Territories for their comments following which the package would be finalised by the Central Government by October 31, 2005, it said.