Political interference in co-op sector flayed

The co-operative sector which was in good health in the state is now suffering due to increased political interference, said Karnataka State Co-operative Agriculture And Rural Development Bank Ltd Director Thimmarayi Gowda.

He was speaking during the one-day state-level special training programme organised by Karnataka State Cooperative Federation, for the chief executive officers of primary cooperative agriculture and rural banks, held at Veerabhumi Auditorium in Kudluru on Tuesday.

“The cooperative societies were established by the pioneers of the cooperative sector, with an objective of supporting farmers and downtrodden communities. But, the political interference has been deviating cooperative societies from fulfilling their sole objective. The societies can flourish only when the repayment of loans is done promptly,” Thimmarayi Gowda said and felt there is a need to change the rules in cooperative and PLD banks in this regard.

He also urged the government to amend the related acts so as to provide maximum benefit for the farmers.

Karnataka State Co-operative Agriculture And Rural Development Bank Ltd Director Rajashekhar Jain opined that only cooperative banks can make the facilities of the government reach the last person in the society.

The cooperative sector has the maximum transparency compared to other financial institutions, he said and lamented that the banking rules and the current loan disbursal pattern have put the cooperative sector into difficulty.

Karnataka State Co-operative Agriculture And Rural Development Bank Ltd Director Mahadevappa presided over the programme.

Cooperative Societies additional registrar H S Nagarajaiah spoke on cooperative acts and the role of cooperative bank CEOs.

Karnataka State Co-operative Marketing Federation Director Rajegowda and Madikeri Cooperative Societies deputy registrar B K Salim were present, among others.