Cooperative banks must develop to compete with commercial banks, Regional Director of Reserve Bank of India R.N. Dash said on Sunday.
Speaking after inaugurating a branch of the Visakhapatnam Cooperative Bank Limited in Kurnool, Mr. Dash asserted that the Union Government and the RBI were striving to make all the people partners in banking. Cooperative banks would flourish by establishing rapport and getting closer with people, he said.
The Visakhapatnam Cooperative Bank Limited chairman Chalasani Raghavendra Rao said the 43rd branch of the 101-year-old bank was started in Kurnool on Sunday. Dasari Srinivasulu, retired principal secretary of Department of Agriculture and Cooperation, also spoke. Mr. Dash inaugurated the bank and Kurnool District Cooperative Officer S. Subba Rao switched on the computers.
