Co-operative Bank nets a profit of Rs. 3.28 crore

Special Correspondent

TIRUCHI: The Tiruchi District Central Cooperative Bank (TDCCB) has registered a profit of Rs.3.28 crore during last year (2007-08). The bank, which is celebrating its centenary this year, has been continuously placed in ‘A’ category by the Audit Department.

The TDCCB with 995 member-societies on its rolls, a share capital of Rs.97 crore; working capital of Rs.1,113 crore; and deposits to the tune of Rs.629 crore is functioning effectively and has gained strength year after year. The bank has deposited Rs.197.82 crore in the credit bonds of other cooperative institutions, National Bank for Agriculture and Rural Development (NABARD) and the Government, its Special Officer, R. Brinda said while addressing the 99-th general body meeting of the bank here recently.

Mrs. Brinda said the TDCCB extended credit to the tune of Rs.792 crore during last year. It has mobilised deposits to the tune of Rs.740 crore and has extended Rs.966 crore as loans so far during the current year.

General Manager T. Veeravinodhan said that the bank extended Rs.133 crore as short term farm loans and Rs.25.87 crore as medium term loans during last year and had achieved the target set by the government.

Special awards

Special awards were distributed to the TDCCB branches at Andimadam, Vaiyampatti and Tirumanoor for their overall performance; Thillainagar, Karur Main and Vaiyampatti for mobilisation of maximum deposits; Andimadam, Karur Sungangate and Tirumanoor for maximum credit flow and recovery achievement.

Special shields and certificates were presented to the following secretaries of the Primary Agricultural Cooperative Banks (PACBs) for extending maximum loans to its members and also ensuring prompt recovery: Kannaiyan of Vadaveekkam Kallathur PACB in Ariyalur district; Saravanan of Varadarajapuram PACB in Tiruchi district; Soundararajan of Kadambur PACB in Perambalur district and Subramanian of Mudikanam PACB in Karur district.

The Chief Revenue Officer of the Bank, M. Umamaheswari and the Special Officer of the Tiruchi District Cooperative Union, S. Mathivanan were among those who spoke on the occasion.

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