Mangalore : Union Minister for Corporate Affairs M Veerappa Moily has said that the government was contemplating to develop co-operative institutions into autonomous bodies and  grant them constitutional recognition and that a suitable legislation in this direction would soon be enacted.

He was speaking  at the valedictory of the centenary celebrations of  Mangalore Catholic Co-operative (MCC) Bank Ltd at Milagres College grounds  in Mangalore on May 6, Sunday.

Moily also expressed his pleasure over a co-operative bank celebrating its centenary year in the district which is considered a cradle of banking.

Rev Dr Aloysius Paul D’Souza, Bishop of Mangalore,  presided over the function. A documentary featuring the progress and achievements of the bank was released  on the occasion. A book on the history of the Bank, published by Raymond D’Cunha of Pingara was also released.

 B Ramanath Rai,MLA,  Ronald Colaco, NRI entrepreneur, Ivan Fernandes, Chairman of  KE Global, Dubai, Dr R Palangappa, Deputy Registrar of Co-op Societies,  Melwyn D’Cunha, MCC Bank chairman Melwyn D’Cunha  and others were on the dais.

Valentine D’Silva and MP Noronha, former chairmen of MCC Bank and advocate Clarence Pais were honoured on the occasion.

Joel Periera and team presented a musical programme.