Finance Minister K.N. Balagopal said that the credibility of Kerala’s cooperative sector is increasing.
Inaugurating the construction of the new headquarters of Poovatoor East Service Co-operative Bank, he added that the sector could raise ₹26,000 crore through deposit mobilisation drive within a month. “This is a testament to the people’s trust. The cooperative sector is progressing as a movement with influence in all fields. It is noteworthy that banks in Kollam has the largest deposits in the sector compared to other districts,” said the Minister.
Mr.Balagopal added that steps are progressing to switch to an advanced technology where you can withdraw money from anywhere in the world using ATM cards of co-operative banks. “Projects that will help the farmers and ensure employment for the youth should be envisaged in the cooperative sector,” he said. The new building of the bank will be constructed spending ₹2 crore to ensure all necessary facilities. Bank president L. Sarala presided over the function while Kerala Bank Director G. Lalu, Joint Registrar General M. Abdul Haleem, LSG representatives, bank governing body members and officials were present.
