A preliminary meeting has been held in Karnataka to ascertain the feasibility of doing away with District Credit Cooperative (DCC) bank. This will result in lesser burden on the farmers who avail loan in cooperative sector, Cooperation Minister S.T. Somashekar said on Tuesday.
“A preliminary meeting involving heads of 21 DCC banks in the State has been held already. A decision has been taken to send a team of officials to Kerala and Chhattisgarh where the DCC banks have been merged with the Apex bank,” he informed the Legislative Council in response to a question posed by BJP Chief Whip Y.A. Narayanaswamy. “We will prepare a detailed report and submit it to the Centre. We will move according to the directions issued.”
He said that in the current structure of the three-tier cooperative sector involving Apex bank, DCC banks and Primary Agricultural Credit Societies (PACS), the DCC banks was keeping 1% in the loan disbursal process. “Merging of DCC banks mean that the farmers can save money,” he argued.
