The Hindu Business Line : Targets set for WB State coop bank

Kolkata June 15 The performance of West Bengal State Cooperative Bank and 17 District Central Cooperative Banks was reviewed and targets for 2007-08 were set at a meeting held in Durgapur recently.

The meeting was attended, among others, by the Chairmen, CEOs and top functionaries of these banks, Registrar of Cooperative Societies, Chief General Manager of Nabard and senior officials of the Reserve Bank of India.

The crop loan target has been set at Rs 1,075 crore, which is about Rs 250 crore more than that disbursed in 2006-07. The overall recovery target has been set at 71 per cent, up by 1.5 per cent. There is a proposal to issue two lakh additional kisan cards in 2007-08 to bring the total to 1.5 million, from 1.3 million in 2006-07 when 1,70,000 cards were issued. The target for rural housing has been fixed at Rs 750 crore.

Mr Samir Ghosh, Chairman of WBSCB, said that the meeting urged the West Bengal Government to consider the cooperative sector's request for two per cent state subvention on crop loan to be provided to small and marginal farmers at seven per cent rate of interest from the high-cost of funds of the cooperative banks.

The meeting also deplored the Union Government's imposition of income-tax on the cooperative sector from 2006-07, entailing substantial erosion in its earnings. WBSCB's outgo on this account in 2006-07 was about Rs 10 crore. "The Union Government must rescind this forthwith," Mr Ghosh said.

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