Cooperatives in J

Srinagar, Nov 2 (UNI) Jammu and Kashmir has recorded a massive progress in cooperatives as 1,015 new societies were registered during the past two and a half years.

The cooperative banks too have witnessed a growth of 4.22 per cent in deposits and 7.36 per cent in advances during the same period, Minister for Agriculture, Cooperation, Sericulture and Fisheries Abdul Aziz Zargar said.

He said that during last two and a half years, as many as 1015 new cooperatives have been registered all over the state with total membership of 20000 individuals mainly in poultry, dairy and specialized areas like engineering cooperatives, floriculture cooperatives and women empowerment.

Mr Zargar said that the deposits and advances of cooperative banks have also witnessed a growth of 4.22 per cent and 7.36 per cent respectively.

He said that the total deposits received by cooperative banks from different resources were of the order of Rs 1206.03 crore in 2003-04, which have increased to Rs 1255.03 crore in 2004-05.

Similarly, the advances made by these banks were to Rs 462.22 crore in 2003-04, which increased to Rs 496.23 crore in 2004-05.

Mr Zargar expressed satisfaction over the advances made by the Banks and also for registering decrease in building non-performing assets.

He directed Registrar Cooperatives for introducing '' One Time Settlement Scheme (OTS)'' with non-willful defaulters so that immediate relief is provided to the farmers.

Reviewing the performance of State Cooperative Agriculture Rural Development Bank (SCARDB) the Minister said that being a part of national level banks, SCARDB as declared by Prime Minister and Union Finance Minister needs to be brought on the national banking map, as it is the only bank which provides agricultural loans both on long-term and short-term basis.

He was informed by senior officers that the bank has done commendable work during last three years in respect of clearing outstanding Rs 9 crore out of Rs 22 crore.

Registrar Cooperatives G N Qasba informed the Minister that Cooperative department in the state is engaged in development of poultries, dairies and also in setting up of Primary Agricultural Credit Societies (PACS), with focus on doubling of agricultural credits to farmers.

Mr Qasba said that Integrated Cooperative Development Project (ICDP) another landmark of Cooperative movement is aimed at fast economic development of the region and employment generation.

He said that two women credit Cooperative one each for Jammu&Kashmir division are shortly being registered enrolling 580 women members, which have already mobilized individual share capital of about Rs 6 lakh.

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