TN to provide Rs 20 lakh to revive sick PAC banks

Tiruchirapalli, Feb 19 (UNI) The Tamil Nadu Government will provide financial assistance of Rs 20 lakh each to revive 1,110 sick Primary Agricultural Cooperative (PAC) Banks, Cooperation Minister Ko Si Mani announced today.

Talking to newspersons here after reviewing the activities of the Cooperative Departments and Central Cooperative Banks in Trichy, Karur, Pudukkottai, Perambalur, Thanjavur, Tiruvarur and Nagapattinam districts, he said the funds would help the PAC banks to enlarge its business activities, like granting jewel loans to farmers and improve its financial position.

He said that the PAC banks had to return the fixed deposits to the tune of Rs 170.622 crore to the depositors of which Rs 109 crore had been returned. Efforts were on return the balance deposit amounts to the depositors.

To another question, he said the government had constituted a high level committee to suggest ways and means to make cooperative super markets, which were in the red, economically viable.

After receiving the committee's report, the government would take necessary steps to develop these markets.

He said efforts were on to provide 23,600 electronic scales for the fair price shops run by the Cooperative Department before April this year.

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