Srikakulam District Cooperative Central Bank has decided to computerise all its branches by the end of December so that connectivity could be provided to other DCCBs and Andhra Pradesh State Cooperative Bank. The bank has already completed computerisation in seven branches and online facility will be available very soon for other six branches in the district.

Addressing a media conference here on Thursday, bank chairman Siripurapu Venkataramana and vice-chairman Nartu Narendra Yadav said that three more branches would be set up at Challavanipeta, Gara, and Edurupuram as part of the expansion of business activity.

Deposit mobilisation

The bank could mobilise Rs. 50-crore deposits and planned to cross Rs. 75-crore target by the end of the financial year 2012-13. The bank, which was in deep financial crisis till 2005, crossed all hurdles and registered Rs.2.55-crore profits in the last financial year.

The bank could disburse Rs.182-crore agricultural loans against Rs.180-crore target in the last kharif season. The bank planned to enter paddy procurement activity with the support of the district administration as it had successfully completed fertilizer business through various primary agricultural cooperative societies.

“We will construct godowns where PACS have their own land. We will also develop 14 PACS as multi-purpose centres with the support of National Bank for Agricultural and Rural Development,” said Mr. Venkataramana. “We will set up mineral water plants, seed development centres, and milk procurement centres also,” he added.

Bank Chief Executive Officer K. Janardana, Deputy General Managers P. Jyotirmayi and D.V. Prasad also spoke.

The bank plans to expand its activities on a big scale