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A decision on implementing the recommendations of the Vaidyanathan Committee to strengthen rural cooperative credit institutions will be taken soon, the government informed the Rajya Sabha on Tuesday.
Based on the recommendations of the Vaidyanathan Task Force and the Chaturvedi Task Force, a revival package for Long Term Cooperative Credit Structures (LTCCS) is under consideration of the government, Minister of State for Finance Mr S S Palanimanickam said during Question Hour. The report is still under consideration and very soon a decision will be taken,” he said.
The Vaidyanathan Task Force was set in 2004 to revamp rural cooperative credit institutions and favoured revival of cooperative institutions offering short and long term credit facilities.
Later in September 2009, another Task Force headed by Mr G C Chaturvedi was set up to re-analyse the Vaidyanathan Committee recommendation on revival of cooperatives offering long term credit.
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