NABARD’s action gives shock to cooperation sector : M. N Rajendra Kumar

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Mangalore, August 12: Due to memorandum circular of NABARD primary associations losing its existence. No loans have been delivered and cannot save money also. Only work as commission agent and created a shock in the cooperation sector, said M. N Rajendra Kuamar.


Addressing the presspersons he said that cooperation banks were nerves of the farmers and it was economic strength to them. It was helping the people by giving the various loan facilities to them as well as short term loans, but due to the memorandum circular, people have got shock, he said.



This is wrong decision of NABARD and during the Vaidyanth’s report special projects were implemented to strengthen the corporation sector, but circular causes for demolishment. If the circular implemented common people will suffer a lot and they will approach the capitalists, which cause for the exploitation, he said.


Hence Ministers and MLA’s must raise the voice against it, otherwise we will intensify a protest, he warned.

By: Sathish Kapikad

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