The National Bank for Agriculture and Rural Development (NABARD) has selected the District Central Cooperative bank for awards for promoting self-help groups, and training unemployed rural youth. “We have won seven awards for performance in categories like formation of joint liability groups, providing bank linkages, high repayment rates and refinance of micro credit,’’ said Umakanth Nagamarapalli, bank president, in Bidar on Monday.
The 20,000 self-help groups promoted by the bank had saved a total of Rs. 400 crore over 20 years. Most of them were also turning micro entrepreneurs, he said.
Sharada Rural Development and Self Employment Training Institute, promoted by the bank, had trained 11,643 young men and women, of whom 9,359 had taken up self employment. They were earning between Rs. 5,000 to Rs. 25,000 per month.
The bank, started in 1922 with an initial capital of only Rs. 1,671, has grown to have an accumulated capital of Rs. 1,471 crore. The bank now has 46 branches in the district, all connected by core banking facilities. “This year, we will set up 10 more branches, Automated Teller Machines and introduce RuPay debit cards. Already, cash transfer through RTGS and NEFT have been enabled,” he said.
The bank will extend loans to farmers for putting up solar powered irrigation pump sets, poly houses and cold storages. Cooperative societies will get loans to build godowns. The bank is also selling farm inputs, like seeds and fertilizers and note books for children of farmers, through its primary agriculture cooperative societies. E-stamping facilities are being provided in some bank branches and PACs.
