68th National Cooperative week celebrations launched at Karimnagar DCCB

K M Dayashankar


KARIMNAGAR: The 68th National Cooperative week celebrations were formally launched by hoisting the cooperative flag and singing the song at the District Cooperative Central Bank in Karimnagar town on Sunday.

DCCB CEO N Satyanarayana Rao hoisted the cooperative flag and sung the cooperative song along with the employees and officials of the bank.  Director B Gopal Rao, NABARD DDMs P Ananth and Manohar Reddy, DCCB general managers B Sridhar and Mohd Riazuddin and others participated in the celebrations.

The theme of this year celebrations is “Prosperity through cooperation”.  Each day of the week-long celebration is nomenclature as “Role of cooperatives in tackling Covid pandemic and strengthening health cooperatives (Nov 14), Cooperative marketing consumers, processing and value addition (Nov 15), Ease of doing business for cooperatives (Nov 16), Role of cooperatives in fostering innovation, employment generation and bringing in professionalism (Nov 17), Entrepreneurship development and strengthening public-private cooperative partnership (Nov 18), Cooperatives for youth, women and weaker sections (Nov 19) and Financial inclusion, digitalisation and social media through cooperatives (Nov 20).

Speaking on the occasion, Karimnagar DCCB CEO N Satyanarayana Rao said that the aim of the celebration was to highlight the achievements of the cooperative sector in various sectors and chalk out future strategies for growth based on dynamics of cooperative development in each sector.

Highlighting the achievements of the bank, which is celebrating its centenary celebrations, Mr Rao said that the bank had launched a new product of “Shatabdi deposit” scheme with a 7 per cent rate of interest for 1,000 days. He said that the bank was providing tractor loans at 8.30 per cent and car loans at a 9 per cent interest rate for the farmers availing farm loans and mortgaging their properties. The bank had also won accolades for zero processing charges, he stated.

Talking about the performance of the bank, the CEO said that the Karimnagar DCCB was surging ahead to achieve the target of doing business of Rs 5,000 crore during this financial year. Already, the bank had done business of Rs 4,470 crore including Rs 2,270 crore loans and Rs 2,200 crore deposits, he said and added that the deposits growth rate was 15.43 per cent.

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