Co-operative Banks, Societies to generate Rs 600 cr

Kozhikode, Feb 26 (UNI) The Rs 30,000 crore Co-operative Banks and Societies in Kerala would mop up an additional Rs 600 crore for development activities through a special campaign during the fiscal 2007-2008.

The amount, to be generated by the 28th Co-operative Deposit Collection Campaign would be utilised for the overall development of the state, Reception Committee Chairman M Mehboob told reporters here today.

State Cooperation Minister G Sudhakaran would inaugurate the campaign here on March one, he added.

The Kerala State Co-operative Banks, District Co-operative Banks, Urban Co-operative Banks, Primary Agricultural Co-operative and Farmers Societies would actively participate in the campaign, he said.

State Co-operative Banks offered comparatively higher interests on deposits than the private sector commercial banks, he claimed.

UNI