Khammam DCC Bank completes a century of banking services
Established before the Indian Independence, on December 24, 1920, the DCC Bank has been serving the needs of farmers in Khammam, Kothagudem, Mahabubabad and Mulug districts
Khammam: Having completed a hundred years of service, the Khammam District Cooperative Central Bank (DCCB) is now confidently looking towards another century of successful business. Established before the Indian Independence, on December 24, 1920, the DCC Bank has been serving the needs of farmers in Khammam, Kothagudem, Mahabubabad and Mulug districts.
The bank has fifty branches with a base of around five lakh customers in four districts and as many as 99 Primary Agricultural Credit Societies (PACS) and 176 Non-Agricultural Credit Societies in its domain. For the past one century the bank has been offering short, medium and long term credit leverage to the farming community and fulfilling the financial accommodation of the PACs, said the bank Chairman Kurakula Nagabhushanam.
He has been elected as the Chairman of the DCCB in last February following the elections to the PACS. He said the bank has been giving priority to credit requirements of BC, SC and STs to help them grow financially.
Speaking to Telangana Today he said he is feeling fortunate for being in the bank’s Chairman when the bank is celebrating its centenary. ‘The bank has witnessed many ups and downs during the last one century recorded a turnover of Rs 2300 crore now’ he said.
Giving details of the bank’s financial status he said, as on March 31,20 the share capital is Rs 116.31 crore, reserves Rs 45.84 crore, deposits Rs 994 crore, investments Rs 347 crore, loans and advances Rs 1381 crore, non-performing assets Rs 102. 39 crore and recovery rate is 84.36.
The Khammam DCCB’s founder Chairman was Ramanarayana. In 1987 the then Chief Minister NT Rama Rao introduced single window credit structure following it about 10 Land Development Banks (LDBs) operating in Khammam merged with the DCC Bank.
Similarly, Rajahmundry DCCB branches in Bhadrachalam, Cherla and Venkatapuram have been merged with Khammam DCCB, he said.
Centenary celebrations on Sunday
The Khammam DCCB’s celebrations are on scheduled on Sunday. Transport Minister Puvvada Ajay Kumar and Agriculture and Cooperation Minister S Niranjana Reddy will attend the celebrations, Nagabhushanam informed.
“I thank the National Bank for Agriculture and Rural Development (NABARD), Telangana State Cooperative Apex Bank, authorities of cooperative department, bank’s previous and incumbent managing committee for playing a crucial part in bank’s success” he added.
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