The Annual meeting of the employees of the Balasor District Central Cooperative Bank in Odisha has criticized the state government for its policies that have triggered the present crisis of primary cooperative societies, reports Statesman.
It is the wrong policies of the govt that have knocked the bottom out of the bank and primary cooperative societies, assert the functionaries of the employees’ union.
The cooperative bodies including the bank are denied encouragement and support as a result of which they are incurring losses, union leaders complain.
Speakers in the meeting said about 70 per cent of advances are given by the bank to the peasants and yet the government does not support them in terms of deposits as the government is giving deposits to big commercial and private banks at our cost, they decried.