Jammu November 14 (Scoop News) – In a significant move towards empowerment of women, the J7K State government would soon establish, first of its kind, a Women Co-operative Bank for which modalities have been finalized including clearance from Reserve Bank of India (RBI).
This was announced by the Minister of State for Cooperative Dr. Manohar Lal Sharma, while kicking off cooperative week celebration here today.
The Minister said cooperative movement launched in 1914 has a historical background for changing socio-economic conditions of the weaker section of the society. He said, for the benefit of the people, cooperative societies are being revamped at Panchayat level.
He stressed the need of further streamlining working of Primary Cooperative Societies by bringing more and more people besides farming community under its ambit. He said under these societies, the farmers can avail loan for agricultural purposes and getting Kissan Credit Card.
Manohar Lal said Co-operative Banking activities will be expanded further at panchayat level so that people in rural areas are provided banking facilities at their doorsteps. He said this is the only bank which is extending its network to almost every part of the state.
Dr. Manohar said that the deposits of State Cooperative Bank have now touched Rs 921 Crore where as the advances of the Bank are Rs 321 crore. The Bank has sanctioned loans worth Rs 23.25 crore to 21587 Kisan Credit Card holders during the last financial year, he added.
Among others Chairman, Central Co-operative Bank, Mahinder Singh, Managing Director, Arun Bakhshi, Registrar, Co-operative Societies, Muhammad Abbas Dar, Chairman ,J&K Co-operative Union, Rajesh Sharma, MD,IFFCO, Varinder Gupta, and other dignitaries were present on occasion.
Meanwhile like other parts of the country, the 57th All India Cooperative Week from November 14 to November 20, 2010 was organised here today under the chairmanship of Secretary to Government, Cooperative department.
In the Cooperative Week, the officer of Cooperative department Cooperative Bank and representatives of cooperative societies from various districts of the valley participated.
On this occasion, the Secretary to Government, Cooperative department has said the objective behind the celebration of Cooperative Week is to give an opportunity to all the cooperative institutions of the state to review their progress, problems besides highlight the achievement policies and programmes and developing a road map for further growth and cooperative sector in the wake of prevailing economic situation. He further said a cooperative society has power of penetrating rural area of the stat at a grass root level.
During the week debates and seminars will be held to create awareness among the people about the aims and objectives of the cooperative societies.