Karimnagar: Expand business portfolios, TSCAB Chairman tells DCC Banks

Karimnagar: The Chairman of Karimnagar DCC Bank, NAFSCOB and TSCAB, Konduru Ravinder Rao told the DCCBs in the State to expand their business portfolios in view of the changes taking place in the banking sector.

He said the DCCBs have come under the purview of the Reserve Bank of India (RBI) as per the Banking Regulation Act, hence the diversification of business portfolios was required for their development.

Ravinder Rao took part in a day-long workshop as chief guest on 'Strategy meet on business development of the DCCBs and PACS' held at the TSCAB office in Hyderabad on Thursday, a statement from Karimnagar DCCB here informed.

He said that the Karimnagar DCCB, which was once in losses and was not unable to return the deposits to the customers, was now earning profits with a business of over Rs 4,000 crore.

The reason behind its success was a 100-day action plan, that was chalked out by the bank staff for the recovery of loans. If the loans were utilised effectively there would not be any problem in their recovery.

Ravinder Rao also participated in an orientation programme for the NABARD cluster officers of Telangana and Andhra Pradesh states at NABARD office in the state capital and the NABARD was a guide, philosopher and friend of cooperative banks and strengthening the PACS.

NABARD had appointed 17 DDMs in this regard in all the districts of Telangana state to benefit the farming sector, he informed, adding that the DDMs should work in an effective coordination with CEOs of various DCCBs. TSCAB Managing Director Dr Nethi Muralidhar informed that they had entered an MoU with the Telangana State Cooperative Rural Irrigation Corporation for third party monitoring of projects sanctioned under the PACS as MSC scheme.