Hyderabad: IT and Industries Minister D Sridhar Babu highlighted that cooperative banks in Telangana focus on community welfare rather than making profits. They implement the CARE model which stands for Community-focused, Affordable & Accessible Credit, Relationship-based banking, and Empowering Local Entrepreneurs.
On Sunday, during the opening of Agrasen Bank’s Ameerpet branch, the Minister mentioned the State Government’s P.A.T.H. Framework. This includes Policy Support, Access to Digital Tools, Training & Capacity Building, and Hybrid Finance Ecosystems. This framework supports initiatives like self-employment loans for youth and disadvantaged groups, financial connections for women’s self-help groups, and green loans.
The Minister noted that banks were once just about deposits and withdrawals, but now they use technology to cater to customer needs with diverse services. Cooperative banks have become vital for providing financial services to marginalized communities. As per the RBI Annual Report 2024, over 85 million people across India use cooperative banking services, with total deposits and advances exceeding `5.5 lakh crore.
In Telangana, there are 48 Urban Cooperative Banks with 321 branches in urban and semi-urban areas. Last year’s business turnover was Rs 17,000 crore, with a credit-deposit ratio of 66.7%. Branches in Kukatpally, Malakpet, and Ameerpet are especially active.
