Efforts on to conduct mega tractor mela in May: Kakani
Agriculture Minister K Govardhan Reddy addressing at District Cooperative Central Bank premises in Nellore on Monday
Nellore: Agriculture Minister Kakani Govardhan Reddy said the government will strengthen 81 primary agriculture cooperative societies in the district and conduct a mega mela in May and sanction 3,500 tractors to the farmers.
He formally launched the Core Banking System in the District Cooperative Central Bank on Monday and said the cooperative banks were set up for welfare of farmers and the Chief Minister Jagan Mohan Reddy has been supporting the cooperative sector.
The Minister said these banks were in losses during 2014 and 2019 and now their share capital has risen from Rs 79 crore to Rs 148 crore and the deposits have increased from Rs 260 crore to Rs 396 crore.
He said computerisation process in the banks help cooperative banks to improve their transactions and precision in transactions. Bank Chairman K Satyanarayana Reddy briefed about activities of the bank.