Haryana signs MoU with Centre, NABARD

Chandigarh, Feb 20 (UNI) Haryana today signed a Memorandum of Understanding (MoU) with the Centre and National Bank of Agriculture and Rural Development (NABARD) to strengthen the Cooperative Credit Structure in the state with a financial package of Rs 361 crore.

The MoU was signed by the Haryana Commissioner and Secretary, Cooperation, D S Dhesi, Director, Finance Department, Tarun Bajaj and Chairman, NABARD, Dr Y S P Thorat, in the presence of Haryana Minister for State of Cooperation, Meena Mandal, here today. While speaking on the occasion, Mrs Mandal urged the officers to make cooperative societies more effective and ensure their smooth functioning.

The Haryana Commissioner and Secretary, Cooperation, Mr D S Dhesi said that the State Government had already made suitable amendments in the Haryana Cooperative Societies Act, 1984, like restricting government equity upto 25 per cent, one Government nominee on the committees of cooperative banks, appointing professionals as Chief Executive Officers of Cooperative Banks and accepting major legal reforms suggested by the Committee.

The Central Cooperative Banks in the State have disbursed loans of about Rs 5000 crore for various activities upto January, 2007 during the year 2006-07. Besides, crop loans upto Rs. one lakh, Cooperative Banks are also providing Revolving Cash Credit Limit upto Rs three lakh to the farmers for meeting their socio-economic financial needs.

UNI