Kerala Government Borrows Money from Cooperative Societies
01 Oct 2023
The Government of Kerala has initiated the process of securing a substantial loan of Rs 2,000 crore from cooperative societies to fulfill its commitment to disburse social security pensions. In a significant development, the finance department has granted the requisite authorization for the establishment of a novel consortium comprising cooperative societies to facilitate the execution of this financial arrangement. This move underscores the state's proactive approach to ensuring the timely disbursement of social security pensions and reinforcing its collaboration with cooperative institutions to achieve this vital objective.
