Tamil Nadu Government’s Assistance under cooperative credit
Cooperative credit institutions play a significant role in extending credit to formers for undertaking farm operations and also persons living in rural areas to undertake various economic activities. On account of the successive droughts these institutions faced financial problems. The government has taken firms steps to provide additional funds to enable the cooperative credit institutions to be revived.
Equity participation of the Government of Tamil Nadu in TNSC Bank
The Government of Tamil Nadu have invested a sum of Rs.20.26 crore in the ordinary share capital of the Tamil Nadu State Apex Cooperative Bank Ltd., Chennai. The dividend over and above 3% on this investment would be added to the Agricultural credit stabilisation fund every year and thereby this fund is being strengthened continuously.