A new scheme will soon be implemented to provide loans for the development projects of local self-government institutions through cooperative societies that have surplus funds, Cooperation Minister V.N. Vasavan has announced
Inaugurating ’Vision 2031’, a one-day seminar organised by the State government to discuss the future development of the cooperative sector here on Tuesday, the Minister said significant progress in local development could be achieved through coordinated efforts between local self-government institutions and cooperative banks. Local bodies should be granted membership in cooperative banks to make loans accessible as depositing local body funds in cooperative banks and fostering mutual cooperation would ensure the State’s overall growth, he said.
According the Minister, the Cooperation department would soon hold discussions in this regard with the Local Self-Governments Minister. Amendments to the relevant laws would also be brought in as part of the initiative. He also announced that the process of introducing a unified software system for transactions in primary cooperative societies and their branches would be completed within a month.
Government Chief Whip N. Jayaraj presided over. Veena N. Madhavan, special secretary, Department of Cooperation, presented a report on the department’s achievements over the past decade. MLAs C.K. Asha and Sebastian Kulathunkal, district panchayat president Hemalatha Premsagar, registrar of Cooperative Societies D. Sajith Babu and State Cooperative Bank chairman Gopi Kottamurickal were also present.
Published – October 28, 2025 06:25 pm IST
