THIRUVANANTHAPURAM: Governor P Sathasivam on Wednesday said that cooperative banks have a major role in creating awareness among farmers on the various lending rates and to cross over the deficiencies in providing loan facilities in the agriculture sector.
He said this while inaugurating the diamond jubilee celebration of the Rural Development Bank. The Governor said cooperative banks had shown professionalism in the demonetisation drive. The banks should ensure that financial assistance was given to deserving persons, he added.
Meanwhile, Cooperation Minister Kadakampally Surendran said that NABARD, which was the main funding agency of cooperative banks, should have to take steps to overcome the crisis in the cooperative sector due to demonetisation drive.
There is a crisis in disbursing loans, repayment of loans and the disbursal of subsidies from various agencies has been affected because of the money crisis. He said cooperative banks should give priority for developing the infrastructure in the agri sector for increasing production.
The government was aiming to create 25 lakh employment opportunities in the state and the major thrust will be on the agriculture sector. And in this, the Rural development banks and the cooperative banks can play a key role, the minister added.
Agriculture Minister V S Sunil Kumar said the relation between cooperative and agriculture sectors was the strength of the farming sector in the state. Noting that cooperative banks were facing a crisis due to demonetisation, he hoped that the Centre and the RBI would take a practical stand on the issue.
National Cooperative Union of India Chairman Chandrapal Singh Yadav, National Agriculture and Rural Bank federation chairman Sukhdarshan Singh Mrar, International Cooperative Alliance regional director Balasubrahmanian and others were present.