MARGAO
Minister for Co-operation, Govind Gaude said that the government would soon come out with a Deposit Protection Scheme to protect the interest of the small-time depositors investing money in cooperative societies.
Speaking to the media on the sidelines of the function held at the Ravindra Bhavan to celebrate World Tribal Day, the minister said the Goa Legislative Assembly recently passed historic legislation by way of an amendment to take to task people responsible for managing the hard-earned money of depositors.
“The amendment passed by the Assembly will empower the government to order probes into those responsible for managing the cooperative societies,” he said.
Gaude said the government is now focused on how to protect the interest of the depositors. “The Deposit Protection Scheme has got the approval of the finance department and once implemented, it will provide relief to the depositors in a big way. This is an achievement,” he said.
Referring to the status of a cooperative society, the minister said FIRs have been registered in some cases, while the auditors are conducting the audit of the societies.
