DCCB Warangal, one of the oldest banks in TS, to launch UPI transactions
In addition, DCCB Warangal is planning to set up five new branches in the erstwhile Warangal district, said DCCB chairman.
Warangal: The District Cooperative Central Bank Limited (DCCB), Warangal, is planning to launch Unified Payment Interface (UPI) transactions soon. Warangal DCCB, one of the oldest banks in Telangana as it was set up in 1917, has been progressing well and is now among the top cooperative banks in the nation.
DCCB Warangal has over 3.1 lakh savings bank account holders and 70 PACS affiliated to it. The bank serves the farmers’ credit needs in 1,098 revenue villages in Hanamkonda, Warangal, Mahabubabad, Jangaon, Bhupalpally and Siddipet districts. As online payments are becoming increasingly popular, DCCB Warangal has decided to provide UPI services to its customers. The bank is already providing net banking and online services, such as balance enquiry, account statement and fund transfer.
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In addition, DCCB Warangal is planning to set up five new branches in the erstwhile Warangal district. The bank’s turnover has increased significantly since 2020, and it has earned a profit of Rs.13.24 crore in 2022-23. DCCB Warangal is also performing well in the recovery of loans and has become the best recovery bank in the State.
The bank has also won an award in the country as the best bank in sanctioning crop loans to farmers. In total, DCCB Warangal has sanctioned Rs.545 crore to 80,311 farmers. Meanwhile, 44 PACS are making profits by running fertilizer shops, godowns, shopping malls and petrol bunks.
In 2021, DCCB Warangal was awarded the best credit growth bank. In 2022, it received the best NPA recovery bank award with a recovery rate of 98 percent.
“The bank is working on par with the nationalized banks and private banks. I hope that the bank will make Rs 2,000 crore annual turnover soon,” DCCB Warangal chairman Marneni Ravinder Rao said.
Meanwhile, the bank is going to set up five new branches – Nallabelli, Ganapuram (Mulugu), Inavolu, Mogilicherla and Tharigoppula- in the erstwhile Warangal soon.
