Belagavi: Sanjay Panchakshari Hosmath, director of the Karnataka State Cooperative Credit Societies Federation in Bengaluru, appealed to the govt and all MLAs for a comprehensive, honest, and effective discussion on the serious problems of cooperative credit societies during the winter session of the Karnataka State Legislature. This session is scheduled to be held at Suvarna Soudha, Belagavi, from Dec 8 to 20.In a release, Sanjay Hosmath stated that India’s cooperative movement began 120 years ago in Kanaginahal village of Gadag district, pioneered by Siddanagouda Sannaramanagouda Patil, the ‘Father of Indian Cooperation’. Despite decades of service and being pillars of rural economic strength, cooperative credit societies in the state still suffer due to the lack of focused and protective govt policies -an unfortunate reality.Key demands of cooperative credit societies that require immediate decisions in the session include administrative and loan recovery issues, strengthening legal and operational frameworks to support loan recovery, and severe challenges related to central govt taxes. The state govt must immediately engage with the Centre to resolve income tax and GST issues. Cooperative credit societies must be given rights similar to nationalised and private banks for loan classification based on CIBIL scores. Judicial concerns include the need for a special task force for the speedy disposal of long-pending ABN cases.Technology for transparent governance requires the mandatory implementation of Common Application Software (CAS) for all cooperative credit societies in Karnataka. Policies to enhance investment and non-interest income include the introduction of special schemes to increase non-interest revenue. The role of District Central Cooperative (DCC) Banks and the revival of sick credit societies are also crucial. Issues of the cooperative movement are not political; they directly impact the economic security of people in rural and urban areas.Dr Hosmath has urged all MLAs and ministers, irrespective of party affiliation, to stand united and give utmost priority to resolving cooperative credit societies’ problems during this session, ensuring a secure future for the cooperative sector in Karnataka.
