Co-op crisis: Kerala Ministers hold talks with Jaitley
New Delhi: Finance Minister Thomas Isaac and Minister for Co-operation Kadakampally Surendran on Friday held talks with Union Finance Minister Arun Jaitley on the crisis faced by the co-operative sector in the state.
The ministers also submitted a memorandum asking the Centre to allow state co-operative banks to accept the deposits in district co-operative banks.
Usually, the deposits accepted by district banks are credited in state co-operative banks. A demand was put forth before the minister requesting that the notes that were accepted by the district banks from November 8 (the day demonetisation was announced) to November 17, should be accepted in state co-operative banks. In this way, the district co-operative banks have Rs 849 crore in their possession.
“Jaitley has assured that the state's needs will be addressed in the high-level meeting to be held on Saturday,” Kadakampally Surendran said.
The ministers also said that Rs 210 crore that is in the hands of primary co-operative banks will be accepted by the state co-operative banks.