Punjab cooperative bank officials impressed by performance of Karimnagar DCCB

The Punjab State Cooperative bank officials said that they had relished the opportunity to visit the Karimnagar DCCB and study its success mantra from the year 2005 to till date.

Karimnagar: The Punjab State Cooperative Bank officials and others visited the Karimnagar District Cooperative Central Bank (DCCB) on Friday. A 14-member team led by JS Sidhu, AMB (banking) Chandigarh as part of an exposure visit to study the success formula of Karimnagar DCCB, which emerged as a role model and best cooperative bank in the country.

On their arrival, KDCCB CEO N Satyanarayana Rao received the Punjab cooperative officials and showed them the performance of the bank including its administrative building and main branch, IT section etc. He also explained the progress of DCCB from loss-making one to profit making and emerging as a role model in the country by diversification of the business activities.

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He explained in detail about converting the PACS into multi-service centres and conduct business on par with any commercial bank by lending all types of loans including housing, education, and business activities in the rural areas. He also enlightened about the recovery of loans in a friendly manner and winning over the confidence of customers by conducting financial literacy programmes in the rural areas.

The Punjab State Cooperative bank officials said that they had relished the opportunity to visit the Karimnagar DCCB and study its success mantra from the year 2005 to till date.

Stating that they would follow the good practices adopted by the KDCCB, they said the cooperatives which have lost their vigor should be brought back to the past glory through cooperation among all the cooperatives in the country. They interacted with the KDCCB officials and clarified various doubts including gold loans, housing and education loans, recovery methods, NPA etc.