Karimnagar: Karimnagar district has become a model for the cooperative banking system, said Konduru Ravinder Rao, Chairman of the Karimnagar District Central Cooperative Bank (KDCCB).
He shared that officials from NITI Aayog and many organizations from India and other countries have visited the Choppadandi Cooperative Bank and KDCC Bank. They are studying how these banks are managed and how they do business. A team from Odisha is also expected to visit Karimnagar soon.
Ravinder Rao highlighted the bank’s achievements over the past year. KDCCB did business worth ₹7,900 crore, which is an increase of ₹800 crore compared to the previous year. The bank earned a profit of ₹119 crore. Deposits grew from ₹2,590 crore to ₹2,850 crore, and loans increased from ₹3,972 crore to ₹4,458 crore. The share capital also rose from ₹188.68 crore to ₹216.21 crore.
The bank gave out ₹1,515 crore in crop loans, the highest among all banks in the district. It also provided ₹152 crore for housing loans, ₹81 crore for education loans, and ₹223 crore to self-help groups.
The Chairman said that 88% of all loans have been recovered. Out of 131 primary agricultural cooperative societies under KDCCB, 18 branches have collected 100% of their loans. He was happy to note that 128 of these societies are making profits.
Ravinder Rao congratulated the bank’s employees for their hard work. He requested that paddy purchase centres be handed back to the PACS (Primary Agricultural Credit Societies), as done earlier, and asked for pending files related to petrol stations to be cleared. He also thanked the Peddapalli Collector for giving land to four PACS and helping set up solar power plants.
