The Karimnagar District Cooperative Central Bank (DCCB), which was reeling under crisis in the year 2005-06 and incurred losses to the tune of over ₹79 crore, is now making strides and earning profits. It also expanded its banking operations on par with the other commercial banks in the district.
Incidentally, the DCCB had also started paying dividends of 6 per cent to the shareholders since last three financial years in the district. It had also ensured that all the Primary Agricultural Cooperative Societies (PACS) also perform on the lines of cooperative bank and earn profits. The net NPA of the Karimnagar DCCB had come down only to 0.74, compared to seven percent NPA at all the other commercial banks. With the term of the existing general body of the DCCB coming to an end within a month, DCCB chairman and Telangana State Cooperative Apex Bank (TSCAB) chairman K. Ravinder Rao convened a press conference with all the members and bank officials in Karimnagar town on Friday. He said that the bank deposits had crossed ₹1142.16 crore as of now, compared to ₹ 113.57 crore in the year 2006-07.
The Cooperative has grown, providing core-banking solutions, RTGS, NEFT, DBT, CTS clearing facilities etc. The bank had also secured permission for launching mobile banking facilities and applied for the Internet banking facilities.
The bank has grown in leaps and bounds, opening 57 branches so far and plans are afoot to open 14 more branches soon. It had opened 24 ATM centres and 193 micro ATMs at PACS. The PACS, which had entered marketing sector procuring paddy from the farmers, earned a commission of ₹80.87 crore. The DCCB was instrumental in making all villages come into banking fold and distributed 2.08 lakh ATM cards including Kisan Credit cards (KCC). The DCCB is the only cooperative bank to take watershed projects for the benefit of the farmers of Gambhiraopeta mandal in the Rajanna-Sircilla district.
DCCB vice-chairman P. Mohan Reddy, CEO Satyanarayana Rao were also present.
