Karimnagar DCCB announces new insurance schemes

May 03, 2015 12:00 am | Updated 05:50 am IST - KARIMNAGAR:

The Karimnagar District Cooperative Central Bank has announced two insurance schemes for its customers from June 1 onwards.

Announcing this at a press conference here on Saturday, DCCB chairman K. Ravinder Rao said that the two insurance schemes were Pradhana Mantri Suraksha Bheema Yojana – with a premium of Rs. 12 per annum and Pradhan Mantri Jeevan Jyothi Bheema Yojana – with a premium of Rs. 330 per annum. Both the insurance schemes will provide accidental coverage of Rs. 2 lakh each.

He said that the DCCB had signed a Memorandum of Understanding with LIC and National Insurance Company for providing insurance and accidental insurance coverage to its bank account holders enrolled in the insurance scheme.

He said that a total of 2.4 lakh bank customers would benefit from the scheme.

Talking about the performance of the bank, he said that the bank had earned a profit of Rs. 10.5 crore during 2014-15. During this financial year, they had set a target of increasing deposits from Rs. 500 crore to Rs. 750 crore.

He said that they had also decided to extend crop loans of Rs. 673 crore this year, including Rs. 360 crore for the kharif season.

Stating that the Karimnagar DCCB tops the State with 99 per cent recovery rate, he said that all the 127 Primary agricultural Cooperative Societies (PACS) were performing well and 110 societies had made profits also.

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