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Our Bureau

Mangalore , May 10

THE President of the Karnataka State Apex Cooperative Bank Ltd, Mr M.N. Rajendra Kumar, has said that it is essential to instil confidence among stakeholders while reviving the sick cooperative units in the State.

Though Government's financial assistance could help in bailing out sick cooperative units from crisis, confidence-building measures among the stakeholders will help in making them viable units.

Speaking at a function to honour him on being elected as the President of the Karnataka State Apex Cooperative Bank Ltd, Mr Kumar said the apex cooperative bank has taken a step in this regard. It has begun such a confidence-building exercise in the case of Dharwad district cooperative bank.

All the stakeholders - depositors and officials - have been consulted in this regard.

The President of the Sri Kshetra Dharmasthala Rural Development Project, Dr D. Veerendra Heggade , who honoured Mr Kumar, said that farmers should be made stakeholders in the co-operative movement. The self-help group concept has become a success, as these groups are based on the principle of cooperation.

He suggested that apex bank set up a fund to tackle problems in the cooperative sector. This fund should provide financial assistance to the co-operative unit in distress within a short period of time, he added.

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