Demonetization of Notes, conspiracy to Weaken Co-op Banks – Mahadeva Prasad during 63rd All India Co-operative week
Mangaluru: To mark the 63rd All India Co-operative week, a district-level programme was held at the Football grounds, Nehru Maidan here on November 18.
A colourful rally “Samudayadatta Sahakara Jatha” was flagged off from the SCDCC main branch which culminated at the Nehru Maidan football grounds.
District minister in-charge B Ramanath Rai hoisted the flag. The programme began with a state Anthem.
President of SCDCC bank Dr M N Rajendra Kumar welcomed the gathering. Dr Rajendra Kumar said, “Due to the demonetization of Rs 500 and Rs 1000 notes, farmers who are depending on co-operative banks are facing financial crisis. They are unable to repay the loan. The government should extend the repayment period of the loan. If the demands will not be fulfilled I will resign from the president’s post and get into the streets with the members of co-operative societies to fight for their rights.”
The programme was inaugurated by the Minister for Co-operation and Sugar, Government of Karnataka Halahalli Shreekantha Shetti Mahadeva Prasad by lighting the traditional lamp along with other dignitaries on the dais. On the occasion, former ministers Amarnath Shetty and Motamma were conferred with “Sahakari Ratna Award” by the ministers.
Addressing the gathering Minister H S Mahadeva Prasad said, “The All India Co-operative week is celebrated every year, which starts from November 14 on the birthday of India’s first Prime minister, Pandit Jawaharlal Nehru. The National Co-operative Week will help to bring awareness to the co-operative enterprise model, motivating women and youth to join the co-operative movement. The first co-operative activity started in 1904 by S S Patil. This year we have organized the programme giving importance to women, youth and the backward classes. In the entire state, Dakshina Kannada co-operative banks are doing a wonderful job.”
He further said, “On November 8, all of a sudden the Union government demonetized Rs 500 and Rs 1000 notes. On what basis the government has demonetized the notes is a big question mark. But the demonetization of Rs 500 and Rs 1000 notes has made the Co-operative banks weaker. I will bring the memorandum which has handed over by the president of SCDCC Bank Dr Rajendra Prasad to the notice of the Chief minister and discuss the difficulties faced by the co-operative banks. The demonetization of currency is a huge drawback to the co-operative banks,” he said.
He also said, “The co-operative banks have provided Rs 10,400 crore agriculture loan to the farmers and by this time a minimum of Rs 2000 crore has to be repaid. But due to the demonetization of notes, the farmers are unable to repay the loan. If the farmers will not be able to repay the loan they will be deprived of all the government interest-free schemes. Most of the farmers who are depending on the co-operative banks are facing problems”.
President of Karnataka State Co-Operative Society Shekhar Gowda V Mali Patil presided over the programme. Minister for food and Civil Supplies U T Khader, MLA Moideen Bava, Chief Whip of Karnataka Legislative Council Ivan D’Souza, Halappa Basappa Achar, G P Patil, S I Patil, Krishnayya, Raviraj Hegde Kodavoor, Harish Acharya and Kishan Hegde Kolkebail were also present.