Karimnagar: the Karimnagar District Cooperative Central Bank (DCCB), a leading cooperative bank in Telangana which has won four national awards in a row and has become a model for other cooperatives, will celebrate its centenary in Karimnagar city on December 28.
the Karimnagar DCCB carries the pride of being one of the very few cooperative banks in India to cross the 100 years mark of its own original identity. the DCCB has become a trusted brand in the neighborhood thanks to its integrity, reliability and fair customer practices.
The Bank extends credit and non-credit services through 128 PACS affiliated with it and 400 other companies including weavers etc. Karimnagar piece. It meets the needs of farmers by providing the highest share of credit compared to other banks in the district. the Banks direct loans to the agricultural and non-agricultural sector account for 50 percent of its business and it has become a formidable competitor to the entire public sector and other commercial banks.
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The Bank has emerged as a model over the years adapting to meet the challenges of the changing scenario in the banking sector. The Bank, which remained primarily intended to provide financial assistance to the agricultural sector, undertook a large operation transformational course over the past 17 years under the dynamic leadership of its president Konduru Raviner Rao (who is also president of TSCAB and NAFSCOB).
Accumulated losses up to Rs 57.91 crore in 2006-07, the Bank had made rapid progress and achieved a turnover of Rs 4,681.12 crore with deposits of Rs 2650.99 crore and loans and advances from Rs 2430.13 crore as on date. The bank has 67 branches offering services to 7 lakh clients. He has 36 on the site ATMs and add more in the coming days and a mobile AT M van. The Bank is ready to launch Mobile banking and IMPS (immediate payment services) on the occasion of the centenary celebrations on December 28, 2021.
The Bank grants all types of loans on par with regular commercial banks. It grants loans to deserving students from rural areas to pursue higher education in foreign countries. It provides loans for housing, multi-house, solar power units, vehicles, self-employment programs, SHG women, gold loans, etc. Karimnagar DCCB resisted the state by sanctioning and grounding units under the PMEGP self-employment scheme units of MSMEs.
The Bank took over ICDP (integrated cooperative development program), UPNRM (Framework program for the agricultural system integrated with the management of natural resources), watershed development projects, financial literacy centers (9), digital switchover campaigns, promotion of financial inclusion, cashless transactions, opening of young champion accounts and social security schemes, PACS development unit and cooperative development fund.
The Bank has entered into an agreement with Karimnagar Milk Producer Company Limited to provide finance to milk producers for the purchase of dairy animals. This aside, the Bank had also sanctioned Rs 40.45 crore term loan and Rs 20 crore Dairy mega project cash credit limit supported Karimnagar at Nusthullapur in Thimmapur mandal. This is the highest limit allowed by any bank in the district without any syndication or loan syndication.
the Karimnagar DCCB had won four consecutive national awards from the NAFSCOB (National Federation of State Cooperative Banks Limited) during the years 2015-2016, 2016-2017, 2017-2018 and 2018-19. In addition, he also won several NABARD awards, Telangana state government and other national cooperation agencies.
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