VCBL Chairman pleads for new legislation

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Visakhapatnam, Sep 2 (UNI) The city-based Visakhapatnam Cooperative Bank Limited (VCBL) Chairman M Anjaneyelu today urged introduction of new Cooperative legislation in place of the two acts in the state.

He told UNI that at present there were two acts of 1964 and 1995 in vogue and he had requested experts in the cooperative sector to set right the lacunae in these acts after examining the cooperative acts of other states.

The cooperative sector, which was facing problem due to the loopholes in the act, would look forward to better results after introduction of a new policy, he said.

Mr Anjaneyelu said only self-less service in cooperative sector would provide a strong foundation for bright future for customers and staff.

UNI BSR AKM 1813

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