Recovery of cooperative loans in nearly half a dozen districts of Haryana has been extremely bad. The state govt. is deeply exercised by the problem. It has called upon farmers to repay their cooperative loans without delay in that it would prevent cooperative banks and societies from going belly up.
An official release issued by the Haryana govt. says the state govt. owes Nabard a staggering amount of 2000 crore of rupees as loan. Haryana minister for cooperation Satpal Sangwan has expressed his hope that farmers who have availed themselves of almost interest free loans would repay and save the situation.
It is worth repeating that Nabard and cooperative officials have been nudging the Haryana govt. into speeding up loan recovery from farmers.
Gurgaon and Mewat, for example, are the two districts where central cooperative banks have been able to get back a mere Rs. 2,588.75 crore while their original target was to collect Rs. 6,226.02 crore.
The non-repayment of cooperative loans would not only undermine the very basis of the cooperative banking in Haryana but also seriously besmirch the state’s high reputation in keeping cooperative institutions in excellent health, sources with intimate knowledge of the Haryana cooperative scene said.