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Jalgaon district administration yesterday conducted a review meeting to evaluate dwelling state of co-operative societies in region. It has ordered filling criminal case complaints against borrowers having not availed collateral securities while taking loans. It also announced sending recommendation to state not to allow cross settling of accounts by societies to have good liquidity for cash repayments, requesting state to avail special package for marriages of depositor daughters, availing single repayment based deposits to families of depositors died. District’s co-operative societies have more than 200 Crores of trapped term deposits and as a result the financial cycle of these depositors have turned painful.
Jalgaon district administration yesterday conducted a review meeting to evaluate dwelling state of co-operative societies in region. It has ordered filling criminal case complaints against borrowers having not availed collateral securities while taking loans. It also announced sending recommendation to state not to allow cross settling of accounts by societies to have good liquidity for cash repayments, requesting state to avail special package for marriages of depositor daughters, availing single repayment based deposits to families of depositors died. District’s co-operative societies have more than 200 Crores of trapped term deposits and as a result the financial cycle of these depositors have turned painful.
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