ANDHRA PRADESH

DCCB makes progress

Staff Reporter

Adds Rs. 21 crore in deposits



Borrowers receive Rs. 55.89 crore as crop insurance

Deposits reach Rs. 80 crore in two years



ANANTAPUR: The District Cooperative Central Bank (DCCB) sanctioned crop loans to about 22,000 new members during the last two years and added Rs. 21 crore deposits during the same period, Chairman of the bank T. Kona Reddy has stated.

Staff shortage

Talking to newspersons here on Monday on the completion of two years in office by the present governing body he said the bank had made notable progress during the period in spite of heavy shortage of staff.

When they had taken over two years back the deposits were Rs. 59 crore and now they had reach Rs. 80 crore, he said.

Insurance claims

For the first time in the bank’s history its 81,258 crop loan borrowers had received Rs. 55.89 crore as crop insurance claims for the crop loss suffered in the kharif 2006 season.

Unlike in the past when the farmers were given the benefit in cash giving a scope for large scale irregularities, the amount was disbursed through accounts this year.

Waiver

Against the entitlement of Rs. 69.4 crore interest waiver to 1, 12, 514 under the Prime Minister’s Relief Package the APCOB had agreed to give Rs. 55 crore so far and out of which Rs. 44.5 crore had already been released.

Efforts were being made to bring the remaining amount, he stated.

He mentioned that issuance of long term agriculture loans were stopped by the previous body due to non-recovery but the present dispensation had given Rs. 1.06 crore during 2006-07 and Rs. 22 lakh during 2007-08 so far. The APCOB had allotted Rs. 8.55 crore for the purpose recently, he said.

The personal accident insurance scheme to its borrowers has also been made cheaper by utilising the competition in the market.

The previous governing body had collected Rs. 15 per borrower for coverage under the scheme, but it was reduced to Rs. 8.40 last year and to Rs. 7.30 this year.

Farmers covered under the scheme would get a benefit of Rs. 50,000 in the event of their accidental death. In 2006-07, 21 farmers were benefited.

Package

Besides, they were also extending assistance to self help groups and weavers. Under Vaidyanatha Committee recommended revival package 22 PACS had received Rs. 14.15 cr. and another 22 would get Rs. 32.9 cr. soon. Against a sanctioned strength of 450 the bank was functioning only with 140 personnel, he noted.

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