An all-party conference will be held shortly to address the impact of banking rules on financial institutions in the state's cooperative sector, said V. N. Vasavan, Minister of Cooperation, here on Wednesday. Mr. Vasavan stated during a news conference hosted by the Kerala Union of Working Journalists that the state government has written to the Reserve Bank of India (RBI) and the Centre in this respect.
The Minister stated that law reforms in the cooperation sector are being suggested to avoid fraud. The Muttathe Mulla programme, which aims to provide low-interest loans to rural people, will be expanded to include all districts. The project, which had been tested in Palakkad, had been a great success. Mr. Vasavan stated that interest rates will be further reduced in order to entice more individuals to the plan. The state government intends to create a cooperative for performing artists from many professions. According to the Minister, the effort is intended to defend their interests and offer them venues for performance and revenue-generating. Mr. Vasavan, who also manages the Registration portfolio, stated that steps have been done to modernise the Registration Department.
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