Date:19/11/2008 URL: http://www.thehindu.com/2008/11/19/stories/2008111953460300.htm

Tamil Nadu

“1,192 sick PACBs have been revived”

Staff Reporter

Food Minister participates in 55th Co-operative Week festival held at Chengam

Photo: D. Gopalakrishnan

Tiruvannamalai Collector M. Rajendran handing over dividend to Food Minister E.V. Velu in Chengam on Tuesday. —

Tiruvannamalai: A total of 1,192 sick Primary Agricultural Co-operative Banks (PACBs) in the State were revived by the Dravida Munnetra Kazhagam government, Food Minister E.V.Velu said on Tuesday.

Delivering a special address at 55th Co-operative Week festival held at Chengam, Mr. Velu said that cooperative movement in the State was first started in Thiroor in Thiruvallur district. The success of cooperative societies depended on the dedication and prudence of individual officials. A number of cooperative societies offered dividends to its members, thanks to the dedicated work of their employees, Mr. Velu said.

The erstwhile All India Anna Dravida Munnetra Kazhagam regime had contended that it was unviable to run 199 sick PACBs in the State. But the DMK regime had given them a loan of Rs.84.5 crore for revival.

“Since women SHGs are regularly repaying loans, nationalised banks are showing more interest in giving them assistance. Taking cue from this, I decided to harness the SHG force for the revival of cooperative banks, during my short stint as Cooperation Minister.

As a result, the cooperative banks started giving loans to SHGs in the State. I have told all Regional Joint Registrars of cooperative societies in the State to give 25 per cent of their total loans to women SHGs,” Mr. Velu said.

Collector M. Rajendran handed over dividend of the Radhapuram PACB to E.V. Velu. In his presidential address, Mr. Rajendran said that ration shops in the State were functioning well, thanks to steps taken by Mr. Velu, which included the provision of electronic weighing machine to all the ration shops and good salary to the staff.

Cooperative Department in Tiruvannamalai district disbursed crop loan to the tune of Rs.1,500 crore this year as against Rs.1,300 crore last year, he added.