Karimnagar DCCB makes stunning turn around
Till March 31, 2020, the bank had done business of Rs 3,757 crore including Rs 1,832 crore deposits and Rs 1,925 crore loans.
Karimnagar: Karimnagar District Cooperative Central Bank (DCCB), which was reeling under crisis with losses to the tune of Rs 57 crore during 2006-07 with a turnover of just Rs 200 crore, is now making strides and has earned profits to the tune of Rs 11.12 crore in 2019-2020 with a turnover of Rs 4,000 crore. It also provided services to over 6.5 lakh customers in erstwhile Karimnagar district.
Disclosing this to newsmen here on Thursday, DCCB chairman, Telangana State Apex Cooperative Bank (TSCAB) chairman and NAFSCOB chairman Konduru Ravinder Rao said that the DCCB had emerged as role model for others in the country with 97 per cent recovery rate in spite of pandemic situation and the non-performing assets was less than 2 per cent.
Till March 31, 2020, the bank had done business of Rs 3,757 crore including Rs 1,832 crore deposits and Rs 1,925 crore loans.
Stating that the Primary Agricultural Cooperative Societies (PACS) were pillars for the success of the DCCB, he said that they were developing the PACSs by converting them into Multi Service Centres (MSC). So far, 54 PACSs have been converted into MSCs and another 33 PACS have been sanctioned Rs 23.89 crore by NABARD under the Atma Nirbhar scheme for taking up 64 business activities. All the 128 PACS have fertilizers and seed businesses in the respective villages, he stated.
Pointing out that the Karimnagar district PACS have emerged as role model for the entire country, he said that DCCB officials would be presenting the Karimnagar model PACSs at the NABARD training programme to all the DCCB officials at Lucknow on January 7 and 8.
He said that the Karimnagar PACSs were giving loans for business, vehicles, education, housing, personal and gold loans and also running rice mills, seed processing units, rice depots, godowns, insurance agencies and selling other agricultural implements to attain self-sufficiency and running in profits.
Explaining the use of technology including computerization of all the bank branches and PACS, he said that the DCCB emerged number two in the country in opening bank accounts of over 44,580 children under the young champion campaign as part of financial literacy programme.
He said that they were also tapping solar energy to save at the head office and eight branches in the district.
The DCCB had also won accolades by emerging as the highest number of digital transactions in the country and distribution of the highest number of ATM and Rupay cards to the customers. He said that the bank also tops in the Telangana state in the procurement of paddy worth Rs 2,300 crore during the khariff season.
He stated that he had grown to the rank of NAFSCOB chairman only because of team work of the entire bank and PACS. He assured to play a crucial role in the strengthening of the cooperative sector, which was the backbone of rural economy, in coordination with RBI, NABARD, Union government and others. CEO N Satyanarayana Ra, vice chairman V Mohan Reddy and others were also present.
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