Cooperative spirit: Karimnagar DCCB celebrating 100 years of service as a trusted brand
Karimnagar: The Karimnagar District Cooperative Central Bank (DCCB), a leading cooperative bank in Telangana which won four national awards consecutively and emerged as role model for other cooperatives, will celebrate its centenary in Karimnagar town on December 28. The Karimnagar DCCB carries the pride of being one among the very few cooperative banks in India […]
Karimnagar: The Karimnagar District Cooperative Central Bank (DCCB), a leading cooperative bank in Telangana which won four national awards consecutively and emerged as role model for other cooperatives, will celebrate its centenary in Karimnagar town on December 28.
The Karimnagar DCCB carries the pride of being one among the very few cooperative banks in India to reach the 100 years milestone on its own original identity. The DCCB has become a trusted brand in the district on the strength of its integrity, trustworthiness and fair customer practices.
The Bank is extending credit and non-credit services through 128 PACS affiliated to it and 400 other societies including weavers etc in the integrated Karimnagar district. It is catering to the needs of farmers by providing the highest share of credit in comparison to other banks in the district. The Bank’s direct lending to agriculture and non-agriculture sector constitutes 50 per cent of its business and it has evolved a formidable competitor to all the public sector and other commercial banks.
The Bank has emerged as a role model over the years by adapting itself to meet the challenges of the changing scenario in the banking industry. The Bank, which remained mainly only for providing financial assistance to the agriculture sector, has undertaken a massive transformational journey in the last 17 years under the dynamic leadership of its chairman Konduru Ravinder Rao (who is also chairman of TSCAB and NAFSCOB).
From accumulated losses to the tune of Rs 57.91 crore in 2006-07, the Bank had made rapid strides and crossed a turnover of Rs 4,681.12 crore with deposits of Rs 2650.99 crore and loans and advances of Rs 2430.13 crore as on date. The bank has 67 branches providing services to 7 lakh customers. It has 36 onsite ATMs and adding more in the days to come and a mobile ATM van. The Bank is all set to launch the Mobile banking and IMPS (immediate payment services) on the occasion of centenary celebrations on December 28, 2021.
The Bank provides all types of loans on par with scheduled commercial banks. It provides loans to meritorious students of rural areas to pursue higher education in foreign countries. It is providing loans for housing, poly-houses, solar power units, vehicles, self-employment schemes, SHG women, gold loans etc. The Karimnagar DCCB stood number in the state by sanctioning and grounding the units under the PMEGP self-employment scheme units of MSME.
The Bank has taken up ICDP (integrated cooperative development programme), UPNRM (Umbrella programme for natural resources management-integrated farming system), watershed development projects, financial literacy centres (9), go digital campaigns, promoting financial inclusion, cashless transactions, opening young champion accounts and social security schemes, PACS development cell and Cooperative development fund.
The Bank entered into an agreement with Karimnagar Milk Producer Company limited for providing finance to the milk producers for the purchase of milking animals. This apart, the Bank had also sanctioned Rs 40.45 crore of term loan and Rs 20 crore limit of cash credit for the mega Dairy project taken up Karimnagar at Nusthullapur in Thimmapur mandal. This is the highest limit sanctioned by any bank in the district too without any consortium or loan syndication.
The Karimnagar DCCB had won four national awards consecutively from the NAFSCOB (National federation of state cooperative banks limited) in the year 2015-2016, 2016-2017, 2017-2018 and 2018-19. Besides, it has also won several awards from the NABARD, Telangana state government and other national cooperative agencies.
Now you can get handpicked stories from Telangana Today on Telegram everyday.
Click the link to subscribe. Click to follow Telangana Today Facebook page and Twitter .
