The Odisha government has called upon the center to implement the recommendations of the Vaidyanathan Committee-II report to help revive long-term cooperative credit in the state.
The state govt. says had the recommendations been put into reality the long term credit needs could have been met. According to the Odisha govt, state cooperative agriculture and rural development bank[ Card] and primary Card banks are no longer in function as Nabard has denied them refinance support for the last several years.
The state govt has also called for a corpus fund of Rs 1000 crore to be handled by Nabard. Demanding income tax exemption for cooperatives the Odisha govt says if this and other necessary steps are taken without delay , the cooperative movement could be a great success in the state.
