Karnataka minister for primary and secondary education has urged upon cooperative financial bodies to use better lending practices so they could reduce the size of their non-performing assets. The minister was addressing a gathering of members of Souharda cooperative societies in Tirthahalli, Shimoga in Karnataka , reports Hindu.
Former MLA and a prominent cooperator Araga Jnanendra said many cooperative societies were engaged in fraudulent financial transactions owing to which they have lost the capacity to cater to the credit needs of the farmers, he said.
Gurunatha Janthikara, President of Karnataka State Souharda Federal Cooperative said , the District Central Cooperative Banks should accord ‘A’ grade membership and voting rights to the souharda cooperative societies, he said.
The former vice-president of the Malnad Arecanut Marketing Cooperative Society K. Narasimha Naik was felicitated on the occasion.