Maharashtra Cooperation Minister Dilip Wale Patil has given his nod for resolving several burning issues related to cooperative credit societies of the state, in the meeting held on Wednesday.
The meeting was held under the leadership of Maharashtra State Credit Cooperative Federation Chairman Kaka Koyate, in which Vasantrao Shinde, Surekha Lawande, Cooperative Commissioner Anil Kawade and others were present.
The issues green lit by Patil included, allowing credit cooperatives to construct cold storage, warehouses etc, extension of shareholding limit, dedicated portal for recovery of loans and others.
Soon after the meeting, talking to the Indian Cooperative Koyte said, “This was the first meeting with Dilip Walse Patil after becoming the cooperation minister. The meeting was very fruitful. The cooperation minister assured us to fulfil our demands in the coming days”.
“For past many years, our federation has been demanding construction of warehouses and cold storages in credit cooperatives. The minister looked very positive and assured us to give the required permission. Besides, the decision was taken to extend the individual limit of shareholding from Rs 1 lakh to Rs 5 lakh”, said Koyte.
Koyte further added, a special meeting will be held on the proposal made by the Co-operative Department to get insurance cover for the deposits of Co-operative Credit Societies and a decision will be taken after considering the opinion of the Maharashtra State Co-operative Credit Societies Federation.
MAFCOCS is the apex body of credit cooperatives of Maharashtra. There are around 16,000 credit co-operative societies in Maharashtra and over two crore people in Maharashtra are involved with this Co-operative network through two lakh daily collection agents.
Its significance can be gauged by from the fact that there are over 1.5 crore members, and more than 2.25 lakh officers and approximately 4.5 lakh employees in the co-operative credit movement of Maharashtra
The Co-operative Credit Societies of Maharashtra have deposits of over Rs 1 lakh crore and have distributed loans over Rs 70,000 crores.