K M Dayashankar
KARIMNAGAR: Khammam District Cooperative Central Bank chairman Korakula Nagabhushanaiah has instructed the directors and officials of the bank to follow the path shown by the Karimnagar DCCB to make strides in the cooperative banking sector.
The Khammam DCCB managing committee and officials were on an exposure visit to Karimnagar DCCB on Tuesday sponsored by NABARD and TSCAB guidance. After interacting with the Karimnagar DCCB officials and watching a documentary film and power-point presentation on the success of the Karimnagar bank, the Khammam DCCB chairman instructed the bank directors to strictly implement the success formula of the Karimnagar cooperative bank, which had emerged as a role model in the country.
Instructing the bank directors and other officials to speak about the success of Karimnagar DCCB at the Khammam DCCB general body meeting scheduled to be held on March 24 in Kothagudem, he expressed concerned over the Primary agricultural cooperative societies (PACS) running in losses and added that some PACS were having NPAs to the tune of over Rs 7 crore which was not a good sign.
Appreciating the Karimnagar DCCB and the success of the PACS for a stronger cooperative movement, he said that the officials of the Khammam DCCB should ensure that the PACS CEOs and chairpersons should maintain accountability in discharging their duties as a team. He also informed the bank CEO Veera Babu to organise a field visit of Khammam district PACS CEOs and chairpersons and also bank branch managers to Karimnagar DCCB.
Khammam DCCB CEO Veera Babu lauded the Karimnagar DCCB authorities for emerging as the best cooperative bank in the country because of its corporate governance, transparency, accountability and team work. Stating that the Karimnagar DCCB was crossing Rs 5,000 crore businesses and planning to cross turnover of Rs 6,000 in the next financial year, he said that Khammam DCCB had set a target of doing Rs 3,000 crore business and they were expecting to achieve only Rs 2,600 crore businesses. He said that they would depute all their banking staff including branch managers to Karimnagar DCCB for an exposure visit to learn the success mantra.
TSCAB Cooperative training institute faculty member Vijay Shankar said that the Karimnagar DCCB officials and management committee had work made the bank number one in the country. The Corporate governance, transparency, development and sincerity are the success formula for Karimnagar cooperative bank, he stated.
Karimnagar DCCB CEO N Satyanarayana Rao explained about the progress of the bank since 2005 onwards under the leadership of its chairman Konduru Ravinder Rao. He also explained all the achievements, policies and schemes and doing business on par with any commercial bank. He also educated about the diversification of the PACS into multi-service centres to increase their business activities.
Khammam DCCB vice chairman Dondapati Venkateshwar Rao, directors, and other officials were also present. Karimnagar DCCB general managers Md Riaz Uddin and Prabhakar Reddy, PDC resource person G Satyanarayana and others were also present.