Election hype begins in ACUB

Rajamahendravaram : The election hype of the prestigious Aryapuram Cooperative Urban Bank (ACUB) has begun. Last elections were held in 2013. Though it was supposed to take place again in 2018, it has been postponed due to various reasons.

Telugu Desam-Jana Sena-BJP alliance, which won the recent general elections, is preparing a strong panel to contest this bank election. The panel is likely to be announced in the next three days. Elections will be held for all the posts of 12 directors. It is reported that Jana Sena and BJP want to allocate two director posts to them.

The TDP has agreed to one post and negotiations are going on for another seat.

Challa Sankara Rao, who previously served as the chairman of this bank is in the race on behalf of the NDA panel this time.

YSRCP is not directly contesting the panel. But if another panel is in the contest, the party leaders feel that they should extend their support depending on the situation. Discussions are being held with former MP Margani Bharat Ram, former MLA Jakkampudi Raja, and others.

CPI and CPM are opposing the elections and demand that the governing body should be selected unanimously for the future of the bank. They are also demanding appropriate priority for the Left in the working group.

Former MLC Adireddy Apparao, MP Daggubati Purandeswari, MLAs Gorantla Butchaiah Chowdary, Adireddy Vasu, Janasena City Constituency In-charge Atti Satyanarayana will contact with various groups. If they are successful there is a possibility of a unanimous election, according to political circles.

Headquartered at Rajamahendravaram, ACUB has a turnover of around Rs 1,080 crore. There are 16 branches. While there are 9 branches in Rajamahendravaram alone, and other branches are located in Guntur, Tadepalligudem, Bhimavaram, Visakha, Tanuku, Amalapuram, and Kakinada.

This bank has 78423 A-class members (voters). A total of 12 directors will be elected by secret ballot. The elected directors will jointly elect the chairman.

Election Officer V Krishnakanth issued a notification for the ACUB election. Nominations will be received from 11 am to 5 pm on July 11. The final list will be announced on July 12. Polling will be held on July 20.

The entire bank area is divided into three constituencies. Voters in the 1st constituency (Rajamahendravaram branches) will elect 10 directors.

One director for the Kakinada, Tadepalligudem, and Tanuku branches and one director for the Bhimavaram, Amalapuram, Vizagand Guntur branches will be elected.