|
Union Finance Minister, Shri P. Chidambaram held a meeting of Finance Ministers/Cooperation Ministers of the select States here today to discuss and finalise the revitalisation package of short-term cooperative credit structure. An interactive session with State Governments on the Vaidyanathan Committee report for revival of cooperative credit institutions was held on September 9, 2005 and a draft Statement of Near Consensus arrived in the meeting was sent to select States (Maharashtra, Karnataka, Himachal Pradesh, Rajasthan, Madhya Pradesh, Uttar Pradesh, Tamil Nadu, West Bengal, Andhra Pradesh and Arunachal Pradesh).
During the discussion today, there was a consensus on the issues of regulation, legal and institutional reforms, conditionalities for assistance, technical assistance, deposit guarantee, accounting parameters, implementing mechanism and special audit. There was a near consensus on the other issues related to sharing pattern, eligibility, capital adequacy, return of share capital to State Governments and special status to certain States/areas.
A Draft Statement of Consensus will now be forwarded to all States/Union Territories for sending their comments by 15th October 2005. The revitalization package for the cooperative credit structure is proposed to be finalized by Government of India by 31st October 2005.
BSC/BY/GN-351
|
