Minister for Co-operatives K.R. Periyakaruppan on Tuesday said co-operative banks would consider the request for extending education loans to students.
“It is a fair demand. We will discuss it with the Chief Minister and take a decision,” he told reporters after a review meeting. The Minister said the objective of the co-operative banks was to extend financial assistance to farmers, who otherwise would depend on loan sharks and usury. “In 2001, there were suicides after crop failures and drought. Farmers are our priority. Co-operative banks are adapting themselves in tune with changing times and we will consider the request for education loans,” he said.
Mr. Periyakaruppan said co-operative banks, despite stiff competition from nationalised banks, private, and foreign banks, had done well and received appreciation from customers. “We have fixed a target to achieve a growth of ₹1,40,000 crore which is ₹30,000 crore more than the last year,” he said.
He said the Department was performing well and increased crop loans since the DMK had come to power in 2021.
“The AIADMK, over 10 years, extended ₹60,000 crore as crop loan. But the DMK government hadcrossed ₹10,000 crore in 2021-22. The target for last year was ₹12,000 crore, but we surpassed it by releasing ₹13,400 crore. This year we have fixed a target of ₹16,500 crore,” he said.
Mr. Periyakaruppan said the Co-operative Department had won the prize from the Union Government for maintaining the most godowns in the country.
