The District Cooperative Central Bank (DCCB) plans to achieve a target of Rs.1,000 crore for the financial year 2015-16. Though the bank could not achieve the target last year due to loan waiver and other schemes of the government, we are confident of achieving it this year, said DCCB Chairman Uppalapati Sukumar Varma. The deposit target for this year was fixed at Rs.540 crore. The loan recoveries were not encouraging last year, it being an election year and farmers were expecting loan waiver.
Hardly around 50 per cent of the loans could be recovered by March-ending but we hope to recover the dues by June-end, he said. He said that the target under long-term loaning was Rs.5 crore this year.
A decision was taken to extend loans for purchase of two-wheelers and solar power units this year in addition to loans for purchase of tractors.
He said that 25 Primary Agricultural Cooperative Societies (PACS) have been identified by the National Bank for Agriculture and Rural Development (NABARD) as multi-purpose seva sangams for implementation of various schemes.
Mr. Varma said that Financial Literacy Centres would be started at Elamanchili, Chodavaram and Narsipatnam to educate members and farmers on financial planning. He said that the DCCB would act as an intermediary between farmers and the Food Corporation of India for procurement of paddy from 10 PACS in the district. PACS would be given priority for the supply of manure.
CEO Atluri Veerababu said that the bank would concentrate on procurement of deposits from women as part of the ‘Mahila deposit padhakam’ as per guidelines of the AP Cooperative Bank (APCOB). The target was to open 8,000 to 10,000 accounts and collect Rs.30 crore deposits in the district during the next 15 days.
Financial Literacy Centres will be started at Elamanchili, Chodavaram and Narsipatnam to educate members and farmers on financial planning, says DCCB chairman.
