Bangalore 25 Mar: FTCI’s 4th quarter Board of Directors meeting for the year 2012-13 was held in Bangalore Head Office on 23rd& 24th March 2013. Before BoDs meeting, budget screening committee consisting of 5 members did thorough and detail study of each transaction of budget for 3 days and made their recommendation. BoDs finally sanctioned 164 million Rupees budget for the fiscal year 2013-14.
During 4th quarter BoDs meeting, resolution on making a documentary film on Tibetan Co-operative movement in India and providing a provision for common good fund through contribution of 5% of net profit from FTCI and its member co-operatives to help and support weaker co-operatives were passed.
The BoDs also approved Rs. 100,000 for scholarship to class XII passed students of member shareholders. In the new financial year, FTCI will construct FTCI branch office and godown to store 2 million kg of maize in Bylakuppe. FTCI is also be constructing office and staff quarter in Kengeri, Bangalore.