The Kodagu District Cooperative Central (DCC) Bank has recorded a profit of Rs 30.46 crore and a net profit of Rs 23.14 crore, according to Chairman Kodandera P. Ganapathy.
Addressing a press meet at the DCC Bank auditorium, Ganapathy presented the bank’s performance over the past year. He stated that the bank has 255 member institutions across the district and continues to provide interest-free loans of up to Rs 5 lakh to farmers.
The bank has a share capital of Rs 37 crore and total funds exceeding Rs 150 crore. Deposits stand at over 2.04 lakh accounts. Loans amounting to Rs 374.92 crore have been disbursed, with financial assistance sourced partly from NABARD.
Ganapathy highlighted that the bank has extended credit support to over 1.42 lakh farmers under various agricultural and non-agricultural schemes. He noted a commendable loan recovery rate of 99 percent.
The bank has also facilitated the formation and support of self-help groups and has secured an ‘A’ grade in statutory audits with a score of 96 percent.
Marking its centenary, the bank has undertaken several development initiatives, including the construction of a new building. Ganapathy emphasised that the institution operates strictly under government guidelines and within the framework of the CooperativeDepartment.
Loans of up to Rs 60 lakh are being extended for various economic activities, he added.
Vice President Harish Poovaiah, Directors including Raghu Nanaiah, Satish Kumar, Arun Bheemayya, Napanda M. Muthappa, Sharavan Kumar, Jalaja Shekhar, Mundanda C. Nanaiah, B.M. Bojamma, Kilan Ganapathy, and other officials were present.
