Ravinder Rao converted the ₹57 cr. loss-making Karimnagar DCCB into a profit-making venture
Assuring to develop all the District Cooperative Central Banks (DCCBs) on the lines of Karimnagar DCCB, Minister for Agriculture, Marketing and Cooperation S Niranjan Reddy has called upon Karimnagar District Cooperative Central Bank chairman Konduru Ravinder Rao, who had strived for the successful functioning of the DCCB in Karimnagar district, to focus on other DCCBs in the State and help them run in profits.
Mr. Niranjan Reddy was in Karimnagar town to participate in various programmes of the DCCB, including the inauguration of a branch in Christian Colony, a guest house, renovated administration building and distribution of financial assistance of ₹100 crore to PACS on the occasion of centenary celebrations of the DCCB in Karimnagar town on Thursday.
₹4,000 cr. business
Speaking on the occasion, the Minister for Agriculture was all praise for Mr. Ravinder Rao for striving to convert the ₹57 crore loss-making Karimnagar DCCB into a profit-making venture and doing business of over ₹4,000 crore.
Hailing Mr Konduru for growing from the rank of PACS chairman from the interior Gambhiraopeta mandal to the all-India National Federation of State Cooperative Banks (NAFSCOB) Limited chairman, he said that Karimnagar DCCB was set on track and it would continue its journey smoothly.
“It is time for Mr Ravinder Rao to focus on other DCCBs in the Telangana as the Telangana State apex bank (TSCAB) chairman. You (Mr Rao) have seen Karimnagar DCCB provide services to 6.7 lakh customers on par with any commercial bank and excel in providing services to the utmost satisfaction of the customers,” he pointed out. The Karimnagar DCCB services are even prompting the district administration to bank with it because of its valuable services and high interest rates, he stated.
Procure farm produce
Minister for Civil Supplies and BC Welfare Gangula Kamalakar called upon the PACS chairpersons to be in forefront in the procurement of the farmers produce during the ensuing rabi crop harvesting by opening the procurement centres.
The meeting was chaired by NAFSCOB, TSCAB and DCCB chairman Konduru Ravinder Rao, who explained about how the DCCB is making strides with the slogan of “our dream is prosperous rural economy.”
He also said that the DCCB emerged number one in the country in the implementation of the PM’s employment generation programme by providing financial assistance for the self-employment of unemployed youth.
ZP chairperson K Vijaya, MLC Naradasu Laxman Rao, legislator Sunke Ravishankar, DCMS chairman Srikanth Reddy, CEO N Satyanarayana, DCO Srimala, general manager Sridhar and others were also present.