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AP Minister call to coops

Written by: Staff

Rajahmundry, Mar 5 (UNI) Andhra Pradesh Minister for Coperation K Lakshminarayana today called upon governing bodies of all cooperative urban banks to work with commitment to gain the confidence of the people to help the cooperative sector survive.

Addressing a gathering here on the occasion of the Jampet Cooperative Urban Bank Limited (JCBUL) completing 80 years of service to customers, the Minister said the government had allocated Rs 216 crore for cooperative urban banks this year for their development.

The government was providing subsidy to the banks since it signed an memorandum of understanding with the RBI.

The Minister promised to take up the issue of including five-year term deposit interest under Income Tax and urban cooperative banks total income to be brought under IT.

Roads and Buildings Minister Jakkampudi Ramamohan Rao asked the the bank employees to work hard in meeting the expectations of people.


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