Team Goemkarponn
PANAJI: Cooperation Minister Subhash Shirodkar on Thursday said the state government is in the final stages of examining the financial and regulatory records of the Tirumala Tirupati Multistate Co-operative Credit Society Ltd., with a decision on restoration of its licence expected shortly.
Speaking to reporters, Shirodkar stated that the society has recently submitted additional documents sought by authorities and that officials are currently evaluating its financial condition and compliance status before arriving at a conclusion on reinstating its licence.
The Goa government had earlier withdrawn the society’s No Objection Certificate (NOC) in February 2026 after identifying multiple irregularities, including failure to submit audited financial statements and alleged violations of cooperative regulations. Following the action, the society’s plans to expand its network of 13 branches were put on hold, while its existing operations came under closer scrutiny, triggering anxiety among depositors.
Meanwhile, the minister also highlighted improvements in the recovery performance of cooperative institutions in the state. He said Non-Performing Assets (NPAs) in the cooperative sector have witnessed a sharp decline since branch managers and sanctioning authorities were made directly accountable for loan recovery from January 1, 2025.
According to Shirodkar, the total outstanding NPAs have now come down to nearly ₹65 lakh spread across 105 accounts during the last 15 months, indicating stronger financial discipline and improved monitoring mechanisms within cooperative bodies.
