In order to enhance credit flow to the rural poor Self Help Groups, the Government in the undivided State of Andhra Pradesh vide the reference have permitted the Society for Elimination of Rural Poverty (SERP) to participate in registration of an Apex Co-operative Credit Society to be formed and register it as a joint initiative of Government of Andhra Pradesh and the SHG Mandal Samakhyas (MSs) with the objective of making available affordable credit.
Orders were issued appointing Sri G. Vidya Sagar Reddy, State Project Advisor, SERP, Hyderabad, as the Managing Director, of Stree Nidhi, and extending the term of the following officials as Govt. nominee Directors on the Board of Stree Nidhi Credit Cooperative Federation Limited, for a period of two more years with effect from 07.9.2013.
I. Prl. Secretary to Govt. (RD), PR & RD Department, Government of AP, Hyderabad.
II. The Registrar of Cooperative Societies, AP, Hyderabad.
III. The Secretary to Government (W&P), Finance Department, AP, Secretariat, Hyderabad.
Consequent upon bifurcation of the State of Andhra Pradesh, under the A.P Reorganization Act, 2014, the Chief Executive Officer, Society for Elimination of Rural Poverty (SERP) Andhra Pradesh has informed the Government that Stree Nidhi Credit Co-operative Federation Limited also has been bifurcated into two societies, and that Stree Nidhi Credit Co-operative Federation A.P. has been registered vide registration No.AFD2/2014 with the Commissioner, and Registrar of Societies A.P.. The CEO, SERP has further informed that Stree Nidhi Board has to be reconstituted afresh, and Managing Director is to be appointed to manage Stree Nidhi, and also for raising loans from Banks, and to decide certain operational matters in the Managing Committee meetings. In view of this, and also that the new Govt. has assumed power in the State of A.P., the CEO SERP while informing that the Board of Stree Nidhi is to be constituted and the Secretary Finance, the RCS have to be necessarily on the Board and with principal Secretary RD heading and play a major role, and requested the government for appointing the three government officials mentioned above as Nominee Directors of the Government in the Managing Committee of Stree Nidhi for a period of 5 years. In the reference fifth read above, it has been informed by CEO, SERP that as requested by the Prl. Secy. (RD), Government of A.P., NABARD has deputed Sri K. V. Satyanarayana , DGM to Stree Nidhi to hold position of Managing Director and he has reported for duty on 2.07.2014.
The Government after careful examination of the proposal of the CEO, SERP, AP., Hyderabad contained in his letter hereby reconstitute the Board of Stree Nidhi Co-operative Federation Limited, Andhra Pradesh, and appoint Sri. K.V.Satyanarayana, DGM NABARD as Managing Director for a period of two years on deputation with effect from 2.07.2014, and the three officials mentioned here under as Government nominee Directors on the Board of Stree Nidhi Credit Cooperative Federation Ltd; Andhra Pradesh for a period of 5 years with effect from 02.06.2014, duly appointing on deputation.
1. Principal Secretary, Rural Development, Govt. of A.P
2. Principal Secretary, Finance Department, Govt. of A.P
3. Commissioner and Registrar of Cooperative Societies, Govt. of A.P
5. The terms & conditions specified in the GO shall continue to be in force.
G.O. Ms. No. 117 Dated:19.07.2014
1. G.O. Ms. No.255, PR & RD (RD.II) Dept., Dated: 19.08.2011
2. G.O. Ms. No.285, PR & RD (RD.II) Dept., Dated: 26.08.2011
3. G.O. Ms. No.166, PR & RD (RD.II) Dept., Dated: 29.05.2013
4. G.O. Ms. No. 441, PR & RD (RD.II) Dept., Dated: 23.11.2013 5. Letter from Chief Executive Officer, SERP, AP., Hyderabad
No.543/SN/Admn/2014, Dated: 07.07.2014