Comply with new BR Act norms, Karimnagar DCCB officials told

Karimnagar: The Telangana State Cooperative Apex Bank (TSCAB) Managing Director Dr Nethi Muralidhar explained to the officials of Karimnagar District Cooperative Central Bank about the implementation of the Banking Regulation Act and the formation of a separate Ministry for Cooperation in the Union Cabinet.

Welcoming the BR Act and the constitution of the Union Ministry for Cooperation, he said it was a welcome sign for the growth of cooperatives in the country. Similarly, the DCCB officials should also comply with the amended provisions of the BR Act and gear up for the changing challenges as they fall under the regulatory framework of the RBI, he stated.

Dr Muralidhar, who was in town to take part in a private programme on Monday, visited the Karimangar DCCB and interacted with the officials. Praising the bank for its steady growth and performance and winning accolades in the country, he appreciated the bank staff for their team and achieving several national awards including the best cooperative bank in the country from NABARD.

Calling upon the bank officials to strive hard to achieve the target of doing business of Rs 5,000 crore during the financial year, he stressed the need for the diversification of business activities. Quoting the example of the diversification of PACS into multi-service centers, he also informed the bankers to focus on extending loans to the farmer producer companies (FPO). KDCCB CEO N Satyanarayana Rao, general manager B Sridhar and others were also present.

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