Co-operative Banks, Societies generates Rs 600 cr

Kozhikode, Feb 26: The Rs 30,000 crore Co-operative Banks andSocieties in Kerala would mop up an additional Rs 600 crore fordevelopment activities through a special campaign during the fiscal2007-2008.

The amount, to be generated by the 28th Co-operative DepositCollection Campaign would be utilised for the overall development ofthe state, Reception Committee Chairman M Mehboob told reporters heretoday.

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 FarmersSocieties would actively participate in the campaign, he said.

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

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