The Karimnagar District Co-operative Central Bank turned into a commercial bank with the launch of their online services from Monday onwards. Minister for Civil Supplies D. Sridhar Babu formally launched the on-line services by clicking the computer at the DCCB office in Karimnagar.
Speaking on the occasion, the Minister said that they would soon launch ATM facilities through co-operative bank in the district following the computerisation of all banks. Reminding that the DCCB, which was in losses to the tune of Rs.67 crore in 2004, had now turned into a profit making bank following reforms, he said that the cooperative bank was providing farmers loans at ‘pavala vaddi' scheme.
He said that they would distribute loans worth Rs.1 lakh to farmers without any interest from the rabi season onwards.