Hyderabad: The Karimnagar DCCB (District Cooperative Central Bank) is surging ahead to achieve the target of doing business of Rs 5,000 crore during the current 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. The deposits have grown at the rate of 15.43 per cent this fiscal.
DCCB chief executive officer N Satyanarayana Rao formally launched the 68th National Cooperative week celebrations at the Bank premises in Karimnagar town on Sunday. He hoisted the cooperative bank flag in the presence of the bank employees and officials. The theme of this year’s celebrations is “prosperity through cooperation”.
Speaking on the occasion, 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, Satyanarayana Rao said that the bank had launched a new product of “Shatabdi deposit” scheme with 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 9 percent interest rate for the farmers availing farm loans and mortgaged their properties. The bank had also won accolades for zero processing charges, he stated.
Board of directors B Gopal Rao, NABARD DDMs P Ananth and Manohar Reddy, DCCB general managers B Sridhar and Mohd Riazuddin and others participated in the celebrations.
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