Co-op Societies Being Run on Profit: Min

Published: 21st November 2015 06:13 AM  |   Last Updated: 21st November 2015 06:13 AM   |  A+A-

VELLORE: The re-organised cooperative societies in the district, since the 2011 Assembly elections have been running on profit, said School Education minister K C Veeramani while inaugurating the 62 All India Cooperative Week celebrations here on Thursday.

Handing over `2.84 crore loan assistance to women self-help groups and differently-abled persons for starting small business ventures through the cooperative banks, he said that in the last three years after elections to cooperative societies in the district,  societies have improved their profit margin. They earned a profit of `7.25 crore in the first year, `10 crore in the second year and `12 crore in the third year.  All the cooperative banks put together in the district have given away loans to the extent of `1423 crore so far, he added. Societies, banks, godowns, marketing outlets and godowns, which were hitherto functioning in rented buildings in the district have now moved to their own buildings, he added.

He said that the district is blessed with 945 cooperative societies. , which have become farmer-friendly ever since polls were held for them after a gap of 17 years.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp