Kodandera P. Ganapathy, President of Kodagu District Cooperative Central (KDCC) Bank, speaking after presiding over the 99th Annual General Meeting of the Bank recently held at “Unnathi Bhawan”in the Late Pandiyanda I. Belliappa Memorial Hall of the Kodagu District Cooperative Central Bank, said that as per the government’s direction, all cooperative banks in the district have offered to give loans of 3 to 5 lakh rupees to the farmers at zero interest rate.
The government has launched many programs for the development of farmers. In this regard, Bond Ganapathy said that loans up to Rs 5 lakh are being disbursed through cooperative banks at zero interest rates.
In the current year, the government has increased the short-term agricultural loan to Rs.5 lakh. Also, the maximum limit under the Medium-Term Interest Discount Scheme has been increased to Rs.15 lakh. He said that the education loan scheme called “Vidya Sahakar” in the bank is being given up to a maximum of Rs.60 lakhs for the children of permanent residents of Kodagu district to pursue higher studies in India and abroad.
Kodandera P. Ganapathy also informed that there are 73 different types of cooperative societies in the district and they have to be audited every financial year and this report should be submitted to DCC Bank every year, he requested.
The role of farmers in cooperative sector is very important. In this regard, everyone should join hands for the development and growth of the cooperative sector. If the cooperative banks survive then it will boost the economic growth of farmers.
The responsibility of making the cooperative sector more self-reliant lies with the governing body and the officers and added that everyone’s cooperation is necessary to strengthen the cooperative sector.
He appreciated that DCC Bank is moving towards the path of progress every year and everyone has joined hands for the development of the bank.
Bond Ganapathy, who expressed his dissatisfaction with the amendment of the Cooperative Societies Act, said that it is not right to consider the nominated members of the governing body as president and vice president and opined that it should be discussed.
Speaking further he said that on August 22, 2024, training was given by the bank to upload the interest rebate bills on-line, and requested all cooperative societies to upload within the time limit through e-mail to the head office. For the first time in the 2023-24 audit, 93 percent marks were obtained. The bank had “A” classification in audit for the past several years. He also said that from the Karnataka State Cooperative Apex Bank our Bank has received the “Best Achievement Third Award” at the Annual General Meeting of the Apex Bank held on September 13, 2024 for the year 2022-23.
A total of 287 cooperative societies have obtained membership of the bank by the end of March for membership and share capital “B” class member societies have Rs. 31.44 crore share capital of A and “C” class members who receive large amount of loans Rs. 0.03 crores total share capital of 31.47 crores has been collected, compared to the last year there has been an increase in the share capital of Rs.3.04 crores, Bond Ganapathy explained.
Presidents of various cooperative banks, Nanda Subbaiah, M B Devaiah, Ravi Basappa, Nagesh Kundalpadi, Krishna Ganapathy and others spoke about the growth and development of co-operative societies and raised many issues.
DCC Bank Vice Chairman Ketoleera S. Poovaiah, Directors Hottaganda M. Ramesh, Hosur J. Sathish Kumar, K. Arun Bhimaiah, Kangira N. Sathish, Poolanda P. Pemmaiah, H.K. Madappa, S.C. Sarathshekhar, N.M. .Uthappa, Sharavana Kumar T R, Gummattira S. Kilan Ganapathy, Jalaja Shekhar, M K Belliappa, Professional Director A. Gopalakrishna, Mundanda C. Nanaiah Deputy Registrar of Cooperative Societies G R Vijay Kumar, Bank CEO Praveen B Naik, , General Manager Bojamma and others were present on the occasion.
