NTR Sahakara Bhavan near Besant Road is likely to be the headquarters for APCOB (Andhra Pradesh State Cooperative Bank) post bifurcation. Division of APCOB assets and reserve funds would have to be completed before October 2. The District Cooperative Central Banks (DCCBs) in Andhra Pradesh are of the view that the APCOB new body would be in place shortly.
West Godavari District Cooperative Central Bank chairman Venkateswara Rao, who is acting vice-chairman of APCOB (undivided) is likely to be tentative Chairman of the APCOB post division, according to Guntur DCCB Chairman Mummaneni Venkata Subbaiah. Elections would be held later to elect full time Chairman. Telugu Desam Party (TDP) has two DCCBs out of total 13 DCCBs in the Andhra Pradesh, 1 in Telangana (Khammam DCCB).
The APCOB management has asked Nabard Consultancy Services (Nabcons) to take up the task. Division of assets and reserve funds would be completed by October 2, he said.
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Disagreement between representatives of the DCCBs from Andhra Pradesh and Telangana, who constitute the general body of the bank, could not be settled . They could not arrive at consensus on a common principle for evaluation of assets and division of reserve funds. The APCOB is also unable to resolve the differences over division of immovable assets in Hyderabad, sources say.
The DCCBs from Andhra Pradesh mooted the division of funds in the ratio of 32:68 for Telangana and AP respectively. This ratio was worked out on the basis of capital shareholding percentage of DCCBs. The DCCBs from Andhra Pradesh argue that they would incur loss of Rs. 136 crore if the funds were divided in 40:60 ratio. However, the Telangana representatives did not agree to this, resulting in a standoff.
Subsequently, the APCOB management handed over the task of dividing the assets and reserve funds to the Nabcons, sources say.
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