| Palliakkal Cooperative Bank, Ezhikkara village near North Paravoor in Ernakulam. |
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5 years ago, this cooperative bank was on the verge of liquidation. And yet, today, it is the bulwark and support of more than 500 families of Ezhikkara village near North Paravoor in Ernakulam. The Palliakkal Cooperative Bank and the people’s collective efforts are changing the face of this village.
When the traditional occupations of the people had faced grave threat did the Bank enter the scene of development by forming people’s collectives. In 2002, a 24-farmer paddy cultivators’ collective was given loan by the Bank to start cultivation. Later the Bank procured the rice from the farmers at a price that was above the standing market price. In 2003 the membership of the collective rose to 68 and the production almost quadrupled. The boiled rice is marketed under the brand name Pokkali Rice.
Not getting enough workers for harvesting was the biggest challenge in the process of cultivation. This was innovatively overcome by instituting lucky prizes for those who work for atleast 7 days.
The people’s collective action began with vegetable cultivation. 100 farmers in 5 groups produced vegetables worth Rs 4.8lakhs last year. For this venture also, the Bank lends money in addition to providing marketing support by buying the produce.
Another group 25 farmers is engaged in cultivation of medicinal plants. They extract the essence from their plants to produce medicinal soaps that is marketed. Similarly, 107 farmers in 5 groups cultivate flowers.
In addition to loan for the cultivation, the Bank provides seeds, manure and technical inputs. Besides, it takes up the burden of marketing the produce. This must be the reason for the 95% loan repayment in the Bank when other banks complain of bad debts.
The executive body consisting of K.K.Gop, President, M.P.Vijayan, Secretary and P.P.Elias, C.N.Rajappan and P.K.Vasudevan Nair as members steer the innovative Bank.
The Bank team at the exchange centre
Courtesy: T.K.Sunil Kumar, Karshakashree, January 2005
Contributed by: Administrator
