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Nizamabad: State keen on bringing in the 2-tier cooperative system
The State government is exerting pressure on its proposal to merge District Cooperative Central Banks (DCCBs) into Telangana State Cooperative Bank to introduce two-tier system in the cooperative sector, instead of the present three-tier system.
Nizamabad: The State government is exerting pressure on its proposal to merge District Cooperative Central Banks (DCCBs) into Telangana State Cooperative Bank to introduce two-tier system in the cooperative sector, instead of the present three-tier system.
Chief Minister K Chandrashekar Rao had announced several times during separate Telangana movement that farmers should get loans and credit easily and with little interest. He is taking up reforms in cooperative sector in this regard.
Konduri Ravinder Rao Committee submitted a report a few day ago detailing the risks and benefits of the three-tier process. Several discussions were held on the changes to be made in the existing DCCBs. Presently DCCBs are an integral part of Telangana State Cooperative Apex Bank, and not an independent governing body.
On the basis of old societies, the government decided to conduct elections for Primary Agricultural Cooperative Societies (PACS), but there were uncertainties about introducing two-tier system of DCCBs.
The three-tier rural cooperative credit structure has Telangana State Cooperative Bank (TSCAB) at the State level, District Cooperative Central Banks (DCCBs) and the PACS. Several States in the country have only two-tier structure - Apex Bank, its branches and PACS. Such two-tier structure will cut intermediate costs and reduces interest rates.
There are nine DCCBs in Telangana. However, in December the State government directed to reorganise each mandal to include at least two PACS. The co-operative department, which has already notified the villages about the formation of new societies, is in the process of receiving objections till February 8. But the process of formation of new societies was stopped when the Chief Minister K Chandrashekar Rao ordered to conduct cooperative society elections immediately without completing the process.
According to the old societies, the elections were finalised. In case of PACS, there is clarity but no clarity from the government on DCCBs.
The government is seriously considering introduction of two-tier cooperative system in the State. PACS will be integrated into TSCAB.
