Minister vows to develop cooperative banks on par with commercial banks

Update: 2023-05-11 01:29 GMT

 Vijayawada: Agriculture minister Kakani Govardhan Reddy vowed to develop cooperative banks on par with commercial banks in the state in the days to come.

The minister set stone for the construction of a building to accommodate the district central cooperative bank’s branch office at a cost of Rs 2.50 crore near Syamala Theatre in Rajamahendravaram on Wednesday.

Speaking on the occasion, he attributed the credit to Chief Minister Y.S. Jagan Mohan Reddy for strengthening the cooperative sector by pumping in Rs 295 crore in cooperative banks and societies in the state and said that it resulted in the cooperative banks and societies running in profits. The minister said that in order to strengthen the cooperative sector further, the state government was making efforts to set up ‘Andhra Bank’ brand along with the RBI so that it would help the cooperative banks function on par with commercial banks and benefit mainly the farming community.

The minister inaugurated the newly set up Rythu Bazaar at Lala Cheruvu in Rajanagaram mandal, built at a cost of Rs 50 lakh, and said that the Rythu Bazaars would serve as a link between the consumers and the farmers to help the farmers get a remunerative price for their produce while consumers get fresh vegetables at a relatively low price when compared with local market prices.

The minister for agriculture inaugurated the agriculture college building and hostel complex, built at a cost of Rs 24 crore. Speaking on the occasion, he said that CM Jagan Mohan Reddy developed agriculture by introducing modern technology in a big way, resulting in enhanced produce at a remunerative price to the farmers. He said that the agriculture colleges in AP, which were in the 31st position at the All India level, were brought to the 11th position by initiating a series of revolutionary changes.

Acharya N.G. Ranga Agriculture University vice chancellor A. Vishnu Vardhan Reddy laid stress on availing modern technology to develop agriculture in a big way.

Rajamahendravaram MP Margani Bharat opined that agriculture had a bright future and would flourish in the days to come, provided modern technology was adapted.


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