Overcoming shortfall in operations following demonetisation, South Canara District Central Cooperative Bank (SCDCC) Ltd. has recorded a profit of ₹21.84 crore for 2016-17, said Chairman M.N. Rajendra Kumar recently.
Talking to presspersons, Mr. Rajendra Kumar said that the profit for 2016-17 was more than the profit earned by the bank in the two previous financial years.
The bank recorded a profit of ₹20.66 crore in 2015-16 and ₹19.81 crore in 2014-15, he said.
Mr. Rajendra Kumar also said that the reports on investigation by the Enforcement Directorate and Income Tax Department into alleged fraudulent operations of the bank has not affected its image among people.
“On the day we opened our 102nd branch in Alankar village of Puttur early this month, we received deposits of ₹26.8 crore,” he said.
The operation of the bank was clean and there were records related to each of the transaction done since demonetisation, he added.
Mr. Rajendra Kumar said the bank has advanced ₹2,382 crore in 2016-17 of which ₹924.63 crore was to the agriculture sector.
The bank has continued with the practice of recovering 100% of agriculture loan advanced during the financial year.
Mr. Rajendra Kumar said that the bank has planned to issue, by June, RuPay credit cards to 92,000 farmers who have taken agriculture loan from primary agriculture credit cooperative societies.
So far they have issued RuPay credit cards to 72,837 farmers, he added.
