Team Herald
PONDA: Chief Minister Dr Pramod Sawanth on Thursday warned that mismanagement in co-operative banks and societies henceforth would be dealt with strictly.
Assuring Goans that the financial condition of Goa State Co-operative Bank is strong, the chief minister appealed to the directors of the co-operative banks and societies to protect the interest of customers and take proper care while giving loans so that the bank does not run into loss.
The chief minister was speaking on the occasion of Co-operative Week celebration in Ponda.
Further, he said that the government would take steps to improve the financial condition of loss making co-operative banks and societies. “The condition of Mapusa and Margao Banks, which are running in loss, will be improved,” he said.
On the occasion, he appealed for promoting co-operative sector in the field of floriculture, fishing and agricultural.
Co-operation Minister Govind Gaude said that to improve the financial condition of the co-operative banks and societies, he would encourage One Time Settlement Scheme (OTS) to recover the loans. He also warned of action against directors of banks and societies for giving loans without proper guarantee for recovery.
