VIJAYAWADA: At the diamond jubilee celebrations of the Andhra Pradesh Cooperative Central Banks Employees Association (APCCBEA), speakers called for reforms to strengthen cooperative banks and support rural agriculture.
They urged both central and State governments to introduce a two-tier system, allocate Rs 2.5 lakh crore for rural agricultural infrastructure, and offer tax exemptions under Section 80(C) of the Income Tax Act to cooperative institutions serving farmers.
The event, held at Makineni Basavapunnaiah Vignana Kendram, was inaugurated by CPI State Secretary K Ramakrishna, AIBEA General Secretary CH Venkatachalam, and other leaders. Ramakrishna criticised corporate policies and urged a united resistance from workers and farmers.
Former Andhra Pradesh State Cooperative Bank Limited chairman TD Janardhan emphasised the need for a two-tier system to reduce loan interest rates for farmers.
Leaders also released a book, Konni Gnapakalu, about the cooperative sector, and enjoyed cultural performances.
The event was attended by cooperative leaders, retired employees, and members from Andhra Pradesh and Telangana.