News Karnataka
Monday, December 04 2023

Mangaluru: Co-operative sector in State is strong, says Minister Somashekar

ST Somshekar
Photo Credit : By Author

Mangaluru: Co-operative Minister S. T. Somashekar said that the people gathered here are proof that the co-operative sector is alive. The co-operative sector is strong in Mangaluru region and thus in state. The cooperative sector has not only provided employment to thousands of people but also benefited crores of people, said Minister of Cooperation S.T. Somashekar.

He was speaking after inaugurating the 69th All India Co-operative Week – 2022 in Mangaluru. From November 14 to 20, co-operative week is celebrated for seven days every year. On Monday November 14, Chief Minister Basavaraj Bommai inaugurated the Cooperative Week in Kalaburagi. The Minister said that the programme will be celebrated in a systematic manner for seven days.

“It is a matter of pride for all of us that Karnataka is the second leading State in India in terms of co-operative sector. The trust of depositors is being maintained and the work is being done in a good manner,” he said.

“Most of the urban cooperative banks in the State are doing well in addition to having ‘A’ grade. Credit societies, and 21 DCC banks are also in the profit, providing employment to thousands of people, credit facilities to lakhs of farmers,’ the Minister explained.

In all, Rs. 24,000 Crore will be given to 33 lakh farmers including 3 lakh new farmers. The loan is being disbursed at zero interest rate this year. The disbursement of loans is being increased year after year,” he added.

“The Yashaswini Scheme is being re-implemented as per the demand of the cooperatives. Yashaswini is a popular project which was implemented by Former Chief Minister S. M. Krishna when he was the Chief Minister. Yashaswini merged with the Health Department due to various reasons. During the tour of the State, there was a demand for the re-implementation of the Yashaswini Scheme everywhere. The Chief Minister Bommai relaunched the scheme and launched it on November 14. The project will benefit all cooperatives,” he said.

“There are 15 milk federations in the State and more than 25 lakh farmers are supplying milk. Nandini Ksheera Samriddhi Bank is being set up to financially benefit the farmers who supply milk. A meeting with the RBI is scheduled on November 25 for setting up of the bank and he exuded confidence that it will be launched.

“Steps are being taken to double the amount of loan given by NABARD. Borrowers are not being harassed. 90% Farmers are repaying loans on time. 100% loan repayment is being done by DCC Bank, especially from self-help groups. Mangaluru DCC Bank is ranked number one among 21 DCC banks. Sahakara Ratna Award is being conferred every year in addition to paying homage to the co-operative dignitaries who have rendered immense service in the field of co-operatives,” he noted.

State Co-operative Marketing Board Chairman and Dakshina Kannada District Central Co-operative Bank Chairman M. N. Rajendra Kumar, MLAs B. Vedavyas Kamath, U. T. Khader, CAMPCO President Kishore Kumar Koodgi, Dakshina Kannada Co-operative Milk Producers’ Federation President K. P. Sucharitha Shetty, Dakshina Kannada and Udupi District Co-operative Fish Marketing Federation President Yash Pal Suvarna, Controller of Co-operative Societies, Captain Dr. K. Rajendra and others were present.

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