The cooperative banking sector has assailed the finance ministry's proposed move to keep the long-term credit structure out of the purview of the revival package mooted by the Vaidyanathan task force. | |
| This package is sought to be offered only to the cooperative institutions engaged in lending short-term loans. In a statement issued today, the National Federation of the Cooperative Agriculture and Rural Development Banks has described the finance ministry's decision as arbitrary and unfair. |
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| Besides, it marked a deviation from the government's earlier policies and recommendations of various other committees. The long-term cooperative credit structure normally offered loans for capital formation. |
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| The short-term credit structure that is proposed to be rehabilitated with the new package offers credit for crop production and seasonal agricultural operations. |
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