Srikakulam District Cooperative Central Bank (DCCB) is adopting corporate style of functioning to attract more business and is taking up activities in a professional manner.
The bank has recently constructed a new building and planned to modernise all the existing branches in the district. The bank has spent around Rs.1.8 crore for its new corporate building at Collector’s camp office road. It has also come out with an action plan to get more business and utilization of its vacant lands in the premises of primary agriculture cooperative societies (PACS).
The bank which was in a financial crisis three years ago is expected to make operating profits in 2014-15 financial year, thanks to increase of business transactions. The crop loans including mortgage loans were around Rs.320 crore as against Rs.182 crore two years ago. Gold loans were increased to Rs. 29 crore as against Rs. 21 crore. Long term loans have gone up to Rs. 31 crore as against Rs. 22 crore. Srikakulam DCCB president Dola Jaganmohana Rao, who returned from London after working in a software company, said the cooperative sector should adopt competitive spirit and vie for more business along with commercial banks.
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