Karimnagar: Chairman of Telangana State Cooperative Apex Bank (TSCAB) and also Karimnagar District Cooperative Central Bank (DCCB) Konduru Ravinder Rao has been unanimously elected as the chairman of the National Federation of State Cooperative Banks Limited (NAFSCOB).
This is the first time in the 55-year history of the NAFSCOB, an apex body of cooperative banks in the country, that a Telugu person has been elected as the chairman for a period of five years. Ravinder Rao will be heading the NAFSCOB, which comprises 33 State cooperative banks and 393 district cooperative central banks across the country.
Rao was elected to the post at the NAFSCOB general body meeting held in Mumbai on Tuesday. After the election of the new board of directors, he was chosen as the chairman of the NAFSCOB.
Earlier, Rao was presented with a special award by the NAFSCOB under the democratic management practices and good governance category.
Among the 393 DCCBs in the country, the Karimnagar DCCB was selected for the NAFSCOB first prize for annual performance (2018-19) at the national level and its CEO Satyanarayana Rao received the award.
The Choppadandi Primary Cooperative Agriculture Society was also adjudged as the best-performing one in the country of the total 93,000 PACS. Choppadandi PACS president V Malla Reddy and CEO Tirupathi Reddy received the awards.
NABARD Chairman GR Chinthala, International Cooperative Alliance vice-chairman and chairman of Kribco Chandrapal Yadav and others were present.
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