Punjab's Cooperative Societies: A Beacon of Financial Responsibility

Punjab Chief Minister Bhagwant Mann honored the Dhuri circle cooperative societies on Thursday for achieving an impressive loan recovery rate exceeding 99%. Addressing a gathering to mark the International Year of Cooperation, Mann expressed pride over the societies' new benchmark in financial responsibility.

Mann emphasized the need to fortify the cooperative sector to benefit farmers and other stakeholders. He urged farmers to use cooperative banks, which offer lower interest rates, and advocated for simple weddings to help reduce the financial burdens on farmers.

The Chief Minister highlighted efforts to enhance the efficiency of cooperative institutions by consulting with banking experts. Additionally, he recommended farmers employ farm equipment on a custom hiring basis through cooperatives to manage costs effectively, further stating the government's commitment to bolstering the cooperative sector.

(With inputs from agencies.)