Karnataka State Cooperative Apex Bank recently organized a high-voltage function on the occasion of its Century celebration in Banquet Hall, Vidhana Soudha, Bengaluru. Chief Minister of Karnataka Siddaramaiah who was invited as the Chief Guest shared the dais with the cooperators.
Speaking at the function, Siddaramaiah said Primary Agricultural Credit Co-operative Societies (PACCS) in the state will be computerized in a phased manner during the next three years. Government was providing short term agricultural loans up to Rs 3 lakh at zero per cent interest and medium-term and long-term agricultural loans up to Rs 10 lakh at 3% interest through cooperative institutions, he added.
He also announced that special grant of Rs 1 crore would be provided to rejuvenate and strengthen the country’s first Agricultural Co-operative Society at Kanaginahal in Gadag district.
Besides Siddaramaiah, Karnataka State Cooperative Apex Bank Chairman K N Rajanna, NAFSCOB Chairman Dileepbhia Sanghani, NAFED former Chairman Bijendra Singh, Rural Development and Panchayat Raj Minister H. K. Patil, MLC Speaker D H Shankara Murthy, Assembly Speaker K B Koliwada, Karnataka Minister Mahdev Prasad, Bank officials and others were present on this occasion.
Addressing the huge gathering, Siddaramaiah said government will deposit grants meant for its various schemes in Karnataka State Cooperative Apex Bank (KSCAB) and its units.
Karnataka State Cooperative Apex Bank Chairman K N Rajanna requested to bear pressure on the central government on the issue of rebate on income tax. Karnataka Cooperative Minister H.S.Mahadev Prasad informed that state government will give loan to 25 lakh farmers through cooperative banks in next two years.
Speaking on the occasion NAFSCOB Chairman Dileep Sanghani recalled the days of the Atal Bihari Vajpayee government when there was no income tax burden on the cooperative sector. He demanded immediate withdrawal of it. He also advocated for youth and women participation in the cooperative movement.
Former NAFCUB President and Rural Development and Panchayat Raj Minister in Karnataka HK Patil said Centre’s decision of keeping its deposits only in nationalised banks is unfair for the cooperative banks. At least 25 per cent of the govt holdings should be allowed to be deposited in cooperative institutions, Patil demanded.