Mr Vinod Kumar lauds Karimnagar DCCB for emerging as a trendsetter in introducing several reforms and strengthening cooperatives
RAJANNA-SIRCILLA, JUNE 13, 2023: TS Planning Vice Chairman B Vinod Kumar along with TSCAB chairman Konduru Ravinder, Choppadandi legislator Sunke Ravishankar and others formally inaugurated the new building of the Karimnagar District Cooperative Central Bank (DCCB) Boinpalli branch in Boinpalli mandal of Rajanna-Sircilla district on Tuesday.
The Karimnagar DCCB opened its branch in Boinpalli four years ago in rented accommodation. Now it was shifted to its premises. The bank branch was doing business for Rs 32 crore and serving the farmers and other customers of Boinpalli and Korem villages. DCCB vice chairman P Ramesh, Director V Mohan Reddy, PACS president Venkatarama Rao, MPP Renu, ZPTC member Sudhar, NABARD DDM P Manohar Reddy, DCCB CEO N Satyanarayana Rao and others were also present.
Speaking on the occasion, TS Planning Board Vice Chairman B Vinod Kumar said the government was taking all measures for the strengthening of cooperatives, which play a crucial role to meet the credit needs of small and marginal farmers in the rural areas. Stating that the state was having a majority of small and marginal farmers, he said that a day would come for cooperative farming very soon in the state.
About the performance of Karimnagar DCCB, which emerged as a role model in the country, Mr Vinod Kumar said that the strong and able leadership of Mr Ravinder Rao had bought reforms in the DCCB and made it run in profits. He said that the Karimnagar DCCB was a trendsetter on several issues for strengthening the cooperative sector in the state.
Mr Ravinder Rao, chairman of NAFSCOB, TSCAB and Karimnagar DCCB, said that Chief Minister K Chandrashekhar Rao was taking all measures for strengthening cooperatives. Reminding the CM had also launched his political career as single-window chairman, he said that Agriculture Minister S Niranjan Reddy launched his political career as single-window chairman and former Minister and Assembly Speaker P Srinivas Reddy was DCCB president of Nizamabad in 1987.
Stating that the self-rule in separate Telangana state had transformed the cooperative sectors from doing business of Rs 12,000 in the year 2014 to Rs 40,000 crore presently. He said Karimnagar DCCB was doing a business of Rs 600 crore in 2014 and now it crossed Rs 6,000 crore business and increased its branches from 36 to 72 branches.
The Karimnagar DCCB which is 102 years old, had emerged as a role model in doing diversified business activities of extending loans for housing, education, industries, employment along with agriculture, he stated. He called upon the people to bank with DCCB and deposit their money for high-interest rates when compared to commercial banks.