VIJAYAWADA, 14 April 2025: At the diamond jubilee celebrations of the Andhra Pradesh Cooperative Central Banks Employees Association (APCCBEA), held in the city recently, leaders made a strong pitch for reforms in the cooperative banking sector and urged the Union and State governments to allocate ₹2.5 lakh crore towards strengthening agricultural and rural infrastructure.
Speakers at the event demanded the introduction of a two-tier cooperative banking system to make credit more accessible and affordable for farmers. They also called for tax exemptions under Section 80(C) of the Income Tax Act for cooperative institutions catering to the farming community.
The celebration, hosted at the Makineni Basavapunnaiah Vignana Kendram, was inaugurated by CPI State Secretary K. Ramakrishna, AIBEA General Secretary C.H. Venkatachalam, and other senior leaders from the cooperative movement.
Addressing the gathering, Ramakrishna lambasted corporate-friendly policies and stressed the need for a joint struggle by workers and farmers to safeguard rural livelihoods.
Former chairman of the Andhra Pradesh State Cooperative Bank Limited, T.D. Janardhan, highlighted the urgency of transitioning to a two-tier model to bring down loan interest rates for farmers and streamline cooperative banking operations.
As part of the event, a commemorative book titled Konni Gnapakalu, chronicling key moments and memories from the cooperative sector, was released. Attendees were also treated to cultural performances that marked the occasion.
The jubilee celebration witnessed participation from cooperative leaders, retired employees, and association members from across Andhra Pradesh and Telangana.
