NABARD guiding force for Cooperative sector: NAFSCOB chairman
K M Dayashankar
DDMs advised to play a proactive role for strengthening DCCBs and PACS
HYDERABAD: NAFSCOB and TSCAB chairman Konduru Ravinder Rao has said that the NABARD is guide, philosopher and friend of Cooperative banks and strengthening the PACS, which are the pillars of the DCCBs.
“If the PACS are made vibrant, the whole cooperative movement would be sustained. Accordingly, the NABARD is taking measures for the conversion of the PACS into Multiservice centres (MSC)”, he pointed out.
Participating in an orientation programme for the NABARD cluster officers of the Telangana and Andhra Pradesh states at NABARD office in Hyderabad on Thursday, Mr Rao said the NABARD had appointed 17 DDMs in this regard in all the districts of Telangana state to benefit the farming sector. He said that the DDMs should work in close coordination with CEOs of various DCCBs and advised them to guide the bank staff on the Banking Regulation Act. He said that the DDMs have to play a proactive role for the development of DCCBs and PACS.
He said that the Karimnagar DCCB, which was once running in losses to the tune of crores of rupees and was unable to return the deposits to the customers, was now doing business of over Rs 4,000 crore and earning profits. They were also distributing the dividends since last seven years. He said that the Karimnagar DCCB had diversified its business by providing loans to all sectors including 38 per cent for the farm sector.
Earlier, the NAFSCOB chairman had released book “Reflections 2020-2021 NABARD in Telangana” about the performance of the rural bank. NABARD Chief General Manager YK Rao and others were also present.
