PANAJI
Outstanding loans of cooperative societies in the State have shot up to Rs 6,256.82 crore in 2021, as compared to Rs 4,409.03 crore in 2019.
These figures were made available in the Economic Survey 2021-22 which was tabled in the Assembly.
According to the report, there are a total of 5,203 cooperative societies registered in the State, an increase of 251 in March 2021, as compared to 4,952 cooperative societies registered in 2019.
The capital share of these cooperative societies has increased from Rs 448.23 crore in 2019 to Rs 549.21 crore in 2021.
The membership in these cooperative societies has, however, risen sharply from 11.77 lakh in 2019 to 14.35 lakh in 2021.
The cooperative societies include self-help groups, cooperative societies, housing cooperative societies, salary earners co-operative credit societies and urban cooperative credit societies. These cooperative societies have a total deposit of Rs 9,161.61 crore.
Incidentally, there appears to be a preference towards nationalised or private banks over cooperative banks as far as deposits are concerned.
The Economic Survey revealed that the percentage increase in deposits for nationalised banks and private sector banks over the previous year was 7.57 percent and 22.43 percent respectively.
On the other hand, there was a decrease in deposits in cooperative banks by 5.96 percent. The deposits in cooperative banks were Rs 5,535.09 cores in 2020, which dropped to Rs 5,205.06 crore in 2021.
