KDCCB Sees Business, Profits Swell In FY25

Karimnagar: Karimnagar stands as an ideal district for cooperative system, said Karimnagar District Central Cooperative Bank (KDCCB) Chairman Konduru Ravinder Rao. He said that NITI Aayog and many associations in the country and from various countries visited Choppadandi Cooperative Bank along with KDCC Bank and are studying business, administration and other aspects in detail. He said that a team from Odisha will also visit them in Karimnagar.

Rao said that last year KDCCB made a business of Rs7,900 crore with a growth of Rs800 crore and earned a net profit of Rs 119 crore. Deposits increased from Rs2,590 crore to Rs2,850 crore and loans were also increased from Rs 3972 crore to Rs 4,458 crore. The share capital has increased from Rs188.68 crore to Rs216.21 crores. He informed that crop loans worth Rs1,515 crore have been provided in the district, more than all the banks. All kinds of financial assistance to the people through Rs152 crore of housing loans, Rs81 crore of education loans and Rs223 crore of loans to self-help groups have been sanctioned in the year. The bank chairman said that 88 percent of the loans have been collected and out of 131 primary agricultural cooperative societies under the auspices of KDCCB, 100 per cent of the loans have been collected in 18 branches. He expressed satisfaction that 128 societies are running in profit. He observed paddy purchase centres should be handed over to the PACS as in the past and the petrol bunk files should be cleared. He praised the Peddapalli Collector for allocating land to four PACS and cooperating in the arrangements for solar power plants.

KDCC Bank has won another rare honour by winning a national award in the cooperative sector. Chairman Konduru Ravinder Rao and CEO N Satyanarayana Rao received the award for being selected as the best bank for 2023-24 at the hands of Union Home Minister Amit Shah in New Delhi last week. Earlier, DCCB won the prestigious National Federation of State Cooperative Banks Limited (NAFSCOB) All India Best Award in 2020-21 and in 2021-22.