“The Last Chance for Co-operative Sector”

“Due to miss management and careless administration, Co-operative movement in the Country is in crisis and the financial assistance of Rs. 15,000 Crores allotted to the co-operative sector is the last chance for it to survive.  Most of the co-operative credit societies in the country are in financial crisis.  They are financially in crisis because they neglected basic principles of co-operation.  At present, we are facing the competitive economy and the co-operative sector should imbibe the spirit of reform to regenerate itself,”  said Dr. Y. S. P. Thorat, Chairman of NABARD while delivering Late. Padmashri Dr. G. G. Jadhav Memorial Lecture of Shivaji University, Kolhapur.  Dr. M. M. Salunkhe, Hon. Vice Chancellor of the University was in chair.

Dr. Thorat said that the Vaidyanathan Committee had suggested the starting of Land Development Banks to overcome the problem of rural indebtedness.  It is suggested that the amount of Rs. 4500 should be made available for this.  Already Government had given package to co-operative sector.  But this financial help would not save co-operatives, if they did not change their style of functioning, management and administration.  There was a need of internal self criticism. He urged that the land Development Banks should be established at the earliest.  Dr. M. M. Salunkhe delivered the presidential address.  Mr. Pratapsingh Jadhav, Editor of the Pudhari and Mr. Pravin Darade, Collector of Kolhapur were present on the occasion.  Dr. A. A. Dange, Director - BCUD introduced and welcomed the guest and Dr. N. V. Thakkar, Controller of Examinations of the University proposed hearty vote of thanks.