Karnataka State Souharda Federal Cooperative recently held a Seminar on the Statutory circulars issued to all the Souharda Cooperatives of Karnataka at Regional Institution of Cooperative Management, Bangalore.
The program was inaugurated by B.H.Krishna Reddy, President, KSSFCL, and presided over by B.S.Gundurao, Director, KSSFCL. Elangovan was the Chief guest for the program.
Srikanth Baruve, DGM, KSSFCL, welcomed the guests and Sharanagouda G Patil, MD, KSSFCL, gave a keynote address. There were 50 participants from 34 Souharda Cooperatives attending the program.
The stress of the seminar was to reformulate the Statutory circulars like financial discipline in Souharda Cooperatives and norms for opening branches. The speakers also stressed on the limitations to branches.
Talking to media Krishna Reedy, President, KSSFCL said the aim of the seminar was to ensure the financial discipline and quality growth in the Souharda Cooperative Movement of Karnataka.
The seminar underlined the fact that cooperatives are playing a vital role in the economic and social development of the country. The progress and the development of the cooperative movement should be appreciated and given proper recognition in the economic activities of the country, the Seminar debated.
It bears recall that Karnataka State Souharda Federal Cooperative has been demanding much-needed amendments in Souharda Act as well as income tax relief for the cooperatives for a long time. They have represented umpteen times requesting the central government and I T authorities to give exemptions to cooperatives and support the growth of the cooperative movement in the country.
More than 4,456 Souharda cooperatives are members of Karnataka State Souharda Federal Cooperative. The total deposits of these cooperatives are 14,000 crore and loans of about Rs 11,000 crore.
Rajshekar, Divisional Officer, KSSFCL, gave a vote of thanks.