The Hindu Business Line : AICBEF seeks sops for co-op banks

Coimbatore, Feb. 23 Co-operative bank employees have sought budgetary allocation for the promotion of agriculture and agricultural infrastructure, income tax relief for co-operative banks and acceptance of the Vaidyanathan committee recommendations for regenerating the agriculture and rural development banks in the budget session itself.

Speakers at the fifth 5th conference of the All India Co-operative Bank Employees’ Federation (AICBEF) also demanded that farm credit be extended at 5 per cent to the ultimate borrowers and a monthly ex-gratia of Rs 2,500 be given to the retired employees.

Mr P. Balakrishnan, General Secretary, AICBEF, told Business Line that the Federation would urge the State Governments to help out the urban co-operative banks that faced liquidity crunch by infusing financial assistance. It would also seek revitalisation assistance of Rs 4,850 crore, besides suggesting a provision of Rs 50,000 crore as corpus for Agricultural Infrastructure Development Fund from the Centre.

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AICBEF seeks sops for co-op banks