The Tamil Nadu government has allocated over Rs. 4 crore to cooperative banks to build safe deposit lockers for customers. About 154 cooperative banks across cities in the state will be covered under the scheme, reports Hindu.
The government has proposed to construct new buildings to house the offices of Agricultural Producers Cooperative Marketing Societies in Mettupalayam, Tirumangalam, Peraiyur, Vadipatti and Theni, Cooperatives Minister Sellur K. Raju recently told the state assembly.
Several members of the opposition had raised questions about the functioning of the societies. CPI member K. Lingamuthu suggested that cooperative banks could also consider offering educational loans.
The issue of delay in paying pensions to the retired employees of the cooperative societies was also raised in the state assembly.
A source is quoted as saying the Tamil Nadu government has allocated Rs. 2.70 crore to open 27 new branches of central cooperative banks in eight districts.