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Modi demands pending amount from Centre

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

"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
He said the non-availability of the promised amount was
affecting the functioning of these institutions.


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