CH NEWS, SRINIVASPUR
Local cultivators will soon receive Kisan Credit Card loans within the next three months, announced P.N. Manjunath Reddy, president of the Kasaba Silk Growers and Farmers’ Service Cooperative Society.
Addressing the annual general body meeting on Monday, Reddy highlighted new initiatives aimed at widening financial aid to shareholders, farmers, and women’s self-help groups. He urged borrowers to avoid delaying their scheduled payments in the false hope of government loan waivers. Maintaining strict repayment discipline remains crucial, he noted, adding that prompt settlement ensures eligibility for fresh credit in the future. He emphasized that cooperative bodies form the financial backbone of rural communities, and active member participation helps expand mutual benefits.
Presenting the annual financial report, society secretary C.S. Shivareddy outlined ongoing revenue growth. The cooperative currently earns around seventy-five thousand rupees monthly from commercial shop rentals, alongside nine and a half lakh rupees collected as deposits. Addressing capital liabilities, Shivareddy stated that out of a fifty-eight lakh rupee construction loan taken from Apex Bank, twenty-six lakh rupees has been cleared. The management aims to pay off the remaining balance within three years to significantly reduce debt.
Several leaders, including PLD Bank president Ashok, vice-president Shabbir Ahmed, and director M. Baire Reddy, attended the session alongside numerous shareholders. The assembly reviewed upcoming budgets, commercial assets, and operational strategies to safeguard the long-term interests of agricultural families. By expanding credit lines and managing fiscal resources prudently, the cooperative continues to strengthen its economic foundation for rural development. Efficient local administration guarantees that deserving farmers gain vital working capital without enduring unnecessary hardships or delays.