Date:28/07/2007 URL: http://www.thehindu.com/2007/07/28/stories/2007072858871100.htm

Andhra Pradesh

22 PACS get Rs. 14 cr. aid

Staff Reporter

ANANTAPUR: Under the revival package for cooperative credit structure, as per the recommendations of A. Vaidyanathan Committee, the Andhra Pradesh State Cooperative Bank has released about Rs. 14.16 crore as recapitalisation assistance to 22 Primary Agriculture Cooperative Societies in the district.

Chairperson of Anantapur District Cooperative Central Bank (ADCCB) T. Kona Reddy said on Thursday that the recapitalisation assistance was released to 22 first category PACS with more that 50 per cent recovery rate. The amount included Rs. 1.15 crore of State Government share in the package.

The benefited PACS were Kesapuram, Cheemalavagupalli, Somaghatta, Veerapuram, Tallamarla, Bukkapatnam, Gunipalli, Thondapadu, Peddapalli, Beluguppa, Vemulapadu, Koduru, Somandepalli, Godiselapalli, Kothacheruvu, Rudrampeta, Sreedharaghatta, Kanekal, Chilamattur, Bandlapalli and Palasamudram.

The APCOB had also sanctioned additional credit limit of Rs. 12 crore to ADCCB for kharif agricultural operations.

The ADCCB had sanctioned the credit limit in turn to 98 PACS based on their recovery performance.

The new credit would be given to the non-borrowing members of the PACS, Mr. Kona Reddy stated.