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| Tara Chand highlights co-operative banking’s role in economy | | | Early Times Report
Jammu , Nov 19: Highlighting the role of cooperative banking in the economy of the State, Deputy Chief Minister, Tara Chand has said that financial institutions like Cooperative Banks not only contribute by providing loans to the people, especially the farmers, but have also contributed in economic empowerment of the people.
This was stated by the Deputy Chief Minister at a function organized by the Citizens Cooperative Bank as part of the celebration of 56th All India Cooperative Week, here today. The topic of the function was “Challenges before the Cooperative Banking Sector”.
The Minister for Cooperatives, Dr. Manohar Lal Sharma presided over the function, while as Minister for R&B, Mr. G. M. Saroori, MLA, Mr. Sukhnandan Chowdhery, Secretary, Cooperatives, Mr. Yadullah and Registrar Cooperatives, Mr. G. N. Sofi were also present on the occasion.
The Deputy Chief Minister said that cooperative movement, envisioned by our forefathers with main objective of improving the socio-economic conditions of the poor, has received a setback during recent times due to the invasion of corporate sector and opening of the market. He said the cooperative movement needs to be revived for which the Government would provide all possible financial assistance.
Deputy Chief Minister also honoured the prominent personalities who had contributed in taking the cooperative movement forward in the State. They included Ms Shanata Bharati, Ch. Sukhnandan, MLA, Dr. G. N. Qasba, former Registrar Cooperatives, Mr. Mohammad Aslam, Deputy Registrar Council Cooperatives and Mr. Kuldeep Kumar Gupta, Mr. Surinder Sharma and Mr. Ravinder Suri, all functionaries of the Citizen Cooperatives Bank.
. Chairman of the Bank Dinesh Gupta, while highlighting the achievements of the bank also apprised of the challenges before the Cooperative Banking Sector in the present era of globalization and sought support of the Govt. for strengthening of the sector as a whole for development of the cooperative movement in the state. He apprised that the bank had been established in 1978 with share capital of Rs. 1.00 Lakh only and presently bank is having 29000 share holders and share capital of Rs. 474.17 Lacs Bank has the largest number of shareholders in North India.
Among others who also spoke on the occasion were Secretary Cooperatives Yedullah and Registrar Cooperative Societies, G.N. Sufi.
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