Team Herald
MARGAO: Babaji Sawant, Chairman of the Madgaon School Complex Co-operative Credit Society, Margao stated on Wednesday that salary heads need to cooperate with the Co-operative Credit Societies to give boost to the progressive movement.
He was speaking to the media along with Sandeep Redkar, Secretary, Lourencia Vaz, Treasurer, Sarita Fernandes, and J. Pereira, members of board of directors, on the sideline of announcing a loan facility for the purchase of four wheeler and two wheelers for the members of their credit society at Margao..
He also said that the progressive movement needs the support of all.
“MSCCCS is in the process of starting counters at Quepem and Mormugao in the near future”, he said.
The chairman said that the society has taken a decision to provide a loan facility for the purchase of four-wheeler and two-wheeler with much lesser interest rate of 8 per cent which will come down effectively due to the return of patronage to the loanee members.
“The limit for the total term loan other than housing loan would not exceed to Rs. 10 lakhs till the further enhancement of loan limit”, he stated.
Babaji further said that the society has one extension counter in Chaudi in the rented premises opened with due approval from the office of Registrar of Co-Operative Societies, Government of Goa.
“We provide a personal loan of Rs 10 lakhs which we are intending to seek the approval on increasing to Rs. 15 lakh with the interest rate of 9.5 per cent which was slashed from 10.5 per cent to 9.5 per cent recently,” the Chairman said.
