The Government of Kerala has approved the release of Rs 50 lakh to the Kerala State Labour Co?operatives Federation Ltd. to support the Material Bank Scheme under the Annual Plan 2025–26.
According to a government order issued by the Co-operation Department, the financial assistance has been sanctioned as working capital support for the scheme. The amount will be released under the Financial Assistance Scheme for Other Co-operative Societies from the Head of Account during the financial year 2025–26.
The order states that the government examined the proposal in detail before granting approval for the release of Rs 50,00,000 as a special case to strengthen the operational capacity of Labourfed’s Material Bank initiative.
The funds will be withdrawn and disbursed by the Registrar of Co-operative Societies, who has also been directed to ensure that the guidelines issued by the Kerala Finance Department are strictly followed.
Officials have also been instructed to closely monitor the utilisation of the funds to ensure proper implementation of the scheme.
