Modi demands pending amount from Centre
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Last Updated: Wednesday, December 28, 2011, 13:44
  
Patna: Deputy Chief Minister Sushil Kumar Modi on Wednesday demanded that the Centre must release the pending amount of Rs 330 crore of the special package for reforming the District Cooperative Banks and Primary Agricultural Credit Societies (PACS).

"The Centre has given a special package of Rs 595 crore to Bihar under the agreement for the reform of 22 District Cooperative Banks and 8,451 PACS, but the state has so far got only Rs 265 crore", Modi said.

The state government had entered into an agreement with the centre and National Bank for Agriculture and Rural Development (NABARD) in 2007 under which it had to implement several recommendations put forth by the Vadyanathan committee report for the revival of rural cooperative credit institutions.

"We have fulfilled all the conditions mentioned in the agreement. Special audit of PACS and District Cooperative Banks have been done. We have amended the cooperatives act, 1935. Bylaws for PACS have been formulated. We are not lagging behind from our side," Modi added.

The Deputy Chief Minister said the state government's interference in the District Cooperative Banks had been reduced to the minimum and 5,100 managers for PACS have also been appointed in accordance with the conditions of the agreement. He said the non-availability of the promised amount was affecting the functioning of these institutions.

PTI


First Published: Wednesday, December 28, 2011, 13:44


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