Financial Assistance to Rural Co-operative Credit Societies Vaidyanathan Committee

To strengthen the Short Term Co-operative Credit Structure, Prof. Vaidyanathan Committee Report was announced by the Government of India. This report was accepted, and all benchmark activities have been achieved by the State Government and cooperative credit sector. According to this report, an MOU has been signed by the State Government along with NABARD and the Central Government. However, a sum of Rs.935 crore is yet to be released to the three-tier cooperative credit structure. The State Government has requested the Government of India to release the said amount at the earliest.

Earlier during the year 2010-11, an amount of Rs 25.00 lakh was provided through vote on account for meeting state share under Vaidyanathan Package for meeting residual liabilities, but the amount was surrendered as it could not be utilized for want of proposals. Thereafter, for the years 2011-12, 2012-13, and 2013-14, a token provision of Rs.1.00 lakh was sanctioned every year. Even for the current year 2014-15, a token provision of Rs.1.00 only is sanctioned.

Beneficiary:

Citizens

Benefits:

As mentioned above