Mangalore: 'Leva Devi' 'Chit Fund' Acts to be Amended


Pics: Dayanand Kukkaje
Daijiworld Media Network - Mangalore (AK)

Mangalore, Jul 15: The Act with regard to the 'Leva Devi', provision of loans without proper documents and 'Chit Fund' is likely to face an amendment, following number of complaints against the societies that carry out these activities in rural areas, informed minister for cooperatives Lakshman Savadi.

Speaking to media persons at a news conference post the SCDCC officers' meeting, on Monday July 14, he said that activities such as the 'Chit Fund' and 'Leva Devi' have resulted in many poor people being cheated, thereby compelling the Government to think of elimination of such activities from the Co-operative Act. 

He disclosed that every gram panchayat will have a Sahakari Sangha soon, something which Mahatma Gandhi had always dreamt of.

Savadi maintained that certain changes will be made to the Vaidyanathan report. He revealed that since there has been a fair bit of opposition shown to the report by the some of the senior cooperative members themselves, implementation of changes in the report will be contemplated upon.

He revealed that the project period of the Yashaswini scheme for farmers has been prolonged till August 31, thereby calling upon greater number of farmers to make use of the scheme.

Apex Bank state president M N Rajendra Kumar and other senior cooperative leaders were present on the occasion.

  

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Title: Mangalore: 'Leva Devi' 'Chit Fund' Acts to be Amended



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