Minister Dayakar Rao assures Dalit bandhu funds to Warangal DCCB

WARANGAL: Minister for Panchayat Raj and Rural Development Errabelli Dayakar Rao has assured to ensure that the Dalit bandhu funds are deposited in the Warangal District Cooperative Central Bank to increase deposits.

The Minister along with WDCCB chairman M Ravinder Rao, Chief Whip Vinay Bhaskar, legislators Aroori Ramesh, Peddi Sudarshan Reddy, the board of directors and others formally launched the Warangal DCCB calendar and dairy of the year 2023 at the bank main office in Hanamkonda on Wednesday (January 4, 2023).

Speaking on the occasion, the Minister appreciated the WDCCB for making profits and winning the awards and called upon the bank employees to emerge as the number one bank in the Telangana state. Reminding his association with the bank as its chairman, he said the bank would provide the best opportunity to serve the farmers and people.

Stating that he had dreamt of becoming Zilla parishad chairman, he said that the chief minister NT Rama Rao made him the DCCB chairman due to various caste equations. He said that the cooperatives bank made a big transition in the recovery of loans and increased their business activities on par with any commercial banks.

Referring to the bank directors, he said that he would talk to Chief Minister K Chandrashekhar Rao and ensure that they get their due recognition and protocols on par with other elected representatives. He also informed that the chief minister was also examining providing an honorarium to the directors of the bank.

Chief Whip Vinay Bhaskar informed the WDCCB officials to provide loans to the unorganised sector, which have formed into 60 societies. He also said that the bank should support the local people in the town.

WDCCB chairman Marneni Ravinder Rao said that the bank had provided loans to the tune of Rs 1193 crore to 1.11 lakh people when compared to Rs 590 crore loans to 80,000 people earlier. He said that the bank had secured the best growth award at the national level for providing Rs 350 crore loans in a single year. The state government had provided the best cooperative bank award for extending loans to the tune of Rs 100 crore to women SHGs.

The bank had also received the national level award for reducing the NPA from 4 per cent to 3 per cent, he said and added that they had provided loans to the tune of Rs 27 crore for the higher education of 200 students in foreign countries

Stating that the bank was having 420 crore deposits, he said that WDCCB had secured third place in the state and NABARD had given an A grade to the bank. They had opened eight new branches and planning to open another 13 new branches very soon. He urged the Ministers and legislators to help the bank in allocating land for opening new branches.

He said that they had set a target of reducing the NPA from the existing 3 per cent to 2 per cent and earning Rs 20 crore profits. He said that they had appointed new staff for reducing the NPA.

Courtesy : Hindu daya shankar

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