Co-op banks to introduce separate vigilance, audit wings

Kozhikode, Mar 1 (UNI) The Co-operative banks and other societies in Kerala will introduce a separate vigilance and audit wings to streamline their operations soon, State Co-operation Minister G Sudhakaran said today.

Inaugurating the 28th Co-operative Deposit Collection Campaign here, he said the Rs 30,000 crore cooperative movement would give priority to health and education sectors.

Stating that the government had set a target to mop up an additional Rs 600 crore during the month-long campaign, he said the cooperative banks had increased interest rates ranging from 7.5 per cent to 10.75 per cent on different deposit slabs.

The rates would remain in force even after the deposit collection drive, he added.

UNI