Govt mulls interest-free farm loans

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H.S. Mahadeva Prasad

Mandya, May 21: Minister for Co-operation H S Mahadeva Prasad announced on Tuesday that the government was mulling over providing loans to farmers, up to Rs two lakh and at zero interest rate, through agriculture co-operative societies.

He told reporters in the city that half the loan amount waived for farmers had already been reimbursed to the district co-operative banks and the rest would be paid soon.

Prasad said it had been made mandatory for co-operative societies to get their accounts done by auditors. But some of the societies cannot afford the fees to be paid to the auditors. Hence, the rule may be reconsidered, he said.

Of the nine directors in a society, there is a provision for one woman director. The number soon would be increased to 11, with a provision for one woman director, he said.

Elections to societies

Elections would be conducted to 4,500 co-operative socieites.

EC Commissioner N C Muniyappa on Tuesday said elections to primary co-operative societies would be completed before September 30, for the grade second societies before October 31, samukta co-operative societies before November 30 and Apex co-operative societies before Decembe 31.

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