Union Cooperation Ministry: Wary of hit to co-op sector, Kerala awaits ministry’s functions

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Written by Shaju Philip | Thiruvananthapuram |
July 23, 2021 1:58:55 am

Vasavan said the decision to include cooperative institutions in the banking regulations Act would adversely impact Kerala’s cooperative sector.

The LDF Kerala government on Thursday told the Assembly that it would adopt a stand on the Union Ministry of Cooperation after reviewing the newly formed ministry’s activities.

Formation of the Cooperation Ministry, under Home Minister Amit Shah, has raised much concern in the CPI(M) in Kerala, which controls around 60 per cent of the state’s robust cooperative movement. The party had earlier stated that the new ministry would infringe upon constitutional rights of the state, and also violate the federal principle.

On Thursday, when several legislators from the treasury benches asked whether formation of the new ministry poses a challenge to the state’s cooperative sector, state Cooperation Minister V N Vasavan replied, “It has come to the notice of the government that the formation of the ministry has created anxiety in the cooperative sector. The government will take a stand after analysing activities of the new ministry.”

Vasavan said the decision to include cooperative institutions in the banking regulations Act would adversely impact Kerala’s cooperative sector.

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