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Govt's apathy demolishing Cooperative movement in JK 8/21/2016 11:09:42 PM Ali Yusuf Early Times Report Jammu, Aug 21: While Cooperative movement in several others states of the country has brought about economic revolution for thousands of people, the apathetical attitude of the successive governments has demolished even the state cooperatives in J&K. Rather than encouraging the cooperative initiatives by private groups and individuals, the governments even failed to streamline their own cooperatives; as a result of which most of these cooperatives were reduced into dens of corruption and nepotism. The apathy and indifference of the government and the registrar of the cooperatives can be gauged from the fact that governing boards of JAKFED, Jammu Central Cooperative Bank and Citizens Cooperative Bank Jammu, the three most prominent cooperatives of the government have all outlived their terms and are operating illegally in accordance with their own constitutions, but the Registrar cooperatives is sitting like a lame duck and not taking any initiative to start the process of putting In place new boards of directors for these cooperatives. A senior leader of the cooperative movement in the state while pleading anonymity said that allowing these cooperatives to work under the boards which have completed their terms and have hence lost their legal status encourages corruption, nepotism and fraud, because of which people lose faith in these institutions. "Legally, these boards cannot be held responsible for any fraud or illegality in their functioning as they are unconstitutional and have no legal standing once they have completed their term" said the former director of Jammu Central Cooperative Bank. "The Citizen Cooperative Bank Jammu is being governed by the board of directors which has not only completed its term long back, but also lost corum following resignations and death of its several directors" he added. Meanwhile, the registrar cooperatives, who is the nodal officer for all the cooperatives societies and institutions has turned a blind eye towards the illegality of the working of these expired boards of directors of these cooperatives which are custodians of public assets and money worth crores.   Share This News with Your Friends on Social Network     Comment on this Story

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