Mangaluru: “The time limit to repay the various loans of farmers has been extended till February. This should be extended for two more months,” said SCDCC Bank President Dr M N Rajendra Kumar.

He was speaking after inaugurating state level workshop on problems facing by co-op societies in changed economical conditions in the country and use of technology, on Monday.

“Common people and farmers are already suffered due to demonetisation and they are being unable to repay their loans on time. Co-op societies should not accept the defeat. They should fight back and should work hard to be strengthened,” he said.

Resource person of the programme Mahabala Giri of Sanmathi Prathishtana, said that if co-op societies doesn’t opt digitalised mode of transactions then it will be a threat to its existence.

“If co-op societies are not digitalised then members may prefer other banking services or else co-op societies might get closed. Complete cashless transaction is impossible, but we can think about less cash transactions,” he added.

SCDCC Bank Directors T Rajaram Bhat, Sadashiva Ullal, DK Co-Op societies Assistant Manager B K Saleem and others were present.