SCDCC Bank inaugurates its 111th branch

May 02, 2022 11:23 pm | Updated 11:23 pm IST - MANGALURU

Minister for Energy, Kannada and Culture V. Sunil Kumar speaks at the inauguration of the 111th branch of SCDCC Bank at Manipal in Udupi district on Monday..

Minister for Energy, Kannada and Culture V. Sunil Kumar speaks at the inauguration of the 111th branch of SCDCC Bank at Manipal in Udupi district on Monday.. | Photo Credit: SPECIAL ARRANGEMENT

The South Canara District Central Cooperative (SCDCC) Bank on Monday inaugurated its 111th branch and mobile banking unit, at Manipal in Udupi district.

Inaugurating the facilities and later addressing a convention of Nvodaya Self Help Group volunteers, Minister for Energy, Kannada and Culture V. Sunil Kumar said the Government has gone the extra mile to economically empower women by announcing establishment of a women’s bank in the budget. The Chief Minister has also set apart ₹200 crore as the seed money for the bank, he said.

Mr. Kumar said being members of Navodaya SGH group, they were conducting transactions with financial discipline. When a woman becomes economically empowered, the entire family becomes empowered. Women members have proven their integrity by promptly repaying loans availed.

SCDCC Bank chairman M.N. Rajendra Kumar by establishing the Navodaya SHGs has empowered women in a big way, the Minister said.

He noted Udupi has not remained the same as it was a decade ago with MLA K. Raghupathi Bhat leaving no stone unturned to ensure overall development of the City. The district should be developed with the cooperative movement in the coming days. The Minister also congratulated Mr. Rajendra Kumar for taking SCDCC Bank to new heights.

Mr. Raghupathi Baht said though there was demand for a separate DCC Bank for Udupi district, the same appears not reasonable at a time when banks were getting merged. The Chief Minister has agreed to extend the zero percent interest loan to fisher women to cooperative societies too.

Fifty nine members of cooperatives whose family members died of COVID-19 were given ₹1 lakh compensation on the occasion. Mr. Rajendra Kumar handed over ₹25 lakh cheque to Uchchila Sri Mahalakshmi Temple renovation committee president G. Shankar as bank’s contribution. Coastal Development Authority Chairman Mattar Rathnakar Hegde, Udupi CMC President Sumithra Nayak and others were present.

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