The District Cooperative Central Bank Limited (DCCB) in Warangal has plans to expand and introduce Unified Payment Interface (UPI) transactions. The bank is currently testing UPI transactions in both Warangal and Khammam DCCBs and expects to launch them fully in 10 to 15 days. The turnover of the bank is around Rs 1,700 crore per annum, and it has a low non-performing asset (NPA) rate of 2.94%, which is within the norms of the Reserve Bank of India (RBI). The bank has provided loans worth Rs 1,300 crore to farmers and other sectors during the 2022-23 financial year. It also has more than 3.1 lakh savings accounts and 70 PACS affiliated to it. The CEO credits the bank for extending credit facilities to farmers, and UPI transactions will benefit farmers and other customers. The bank plans to set up new branches in Inavolu, Mogilicherla, Tharigoppula, Nallabelli, and Ganapuram (Mulugu) in about two to three months, according to the DCCB Warangal chairman, Marneni Ravinder Rao.
District Cooperative Central Bank in Warangal embarks on a significant expansion trajectory
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