Business Daily from THE HINDU group of publications Wednesday, Sep 19, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Trade & Labour Unions States - Tamil Nadu ‘Cooperative banks deteriorating across country’ Our Bureau Coimbatore, Sept. 18 Representatives of the Co-operative Bank Employees’ Union plan to stage a dharna in front of Nabard offices and other places on Wednesday. The proposed dharna, which is at the call of the All-India Co-operative Bank Employees’ Federation, seeks to draw the Government’s attention to the deterioration in the health of the cooperative banks across the country. Seeking Government intervention to resolve this crisis, the federation has urged the implementation of Prof A. Vaidyanathan’s task force recommendations — constitution of an expert committee for revamping the Urban Cooperative Banks, repealing Section 80 P of the Income-Tax Act and allow the cooperative banks to continue to get exemption from paying income-tax enhancing the refinance extended by Nabard from the current 40 per cent to 80 per cent to enable these banks extend crop loans at 5 per cent and so on. ‘Revitalise banks’The General Secretary of the Coimbatore District Central Co-operative Bank Employees Union, Mr A. Ganesan, said the State Government should implement the task force recommendation for revitalising the short-term agricultural cooperative banks and help them wipe out the losses of agricultural and non agricultural credit. “Both the Centre and the State should jointly provide not less than Rs 1,250 crore by way of recapitalisation to all the primary agricultural cooperative banks/societies in Tamil Nadu. This capital infusion, coupled with the implementation of the task force recommendation, would put an end to dual control on these banks,” he said. More Stories on : Trade & Labour Unions | Co-operatives | Tamil Nadu
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|