Karimnagar DCCB is taking measures to convert PACS into cooperative banks, says TSCAB chairman Ravinder Rao

RAJANNA-SIRCILLA, SEPTEMBER 22, 2023: Mr Konduru Ravinder Rao, chairman of NAFSCOB, TSCAB and Karimnagar DCCB, has said that they were taking all necessary measures to provide banking services at the doorstep of all villagers in the district by converting the Primary Agricultural Cooperative Societies (PACS) into the cooperative banks.

Speaking after inaugurating the Karimnagar DCCB’s 71st bank branch in Chandurthi mandal headquarters on Friday, Mr Ravinder Rao said that they had decided to open more bank branches in the integrated Karimnagar district. However, the Reserve Bank of India was imposing several restrictions and obstructing the DCCBs in opening new branches, he said and added that they had decided to convert all the PACS into the cooperative banks and provide banking services at the doorstep of the villagers in all villages.

Stating that they were taking all measures for the diversification of PACS into multi-service centres (MSC), he said that they were also converting PACS as Common Service Centres (CSC) to provide digital services in the villages. He also called upon the farmers to invest in the DCCBs to earn more profits because of high interest rates for deposits.

CEO N Satyanarayana Rao explained about the services being provided by the bank to all sections of society including house loans, educational loans, gold loans, vehicles etc. He also informed that the Karimnagar DCCB had emerged as a role model in the country by winning the NAFSCOB award continuously for the seventh year in a row. Bank Directors Jalagam Kishan Rao, Veerabathini Kamalakar, PACS presidents, bank officials and others were also present.

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