Karunakar Reddy lauds performance of Tirupati Cooperative Bank

Tirupati: On the occasion of the 70th All India Cooperative Week which concluded on Monday, Tirupati Cooperative Bank donated 10 bags of rice to the city-based Matrusri old-age home. The bank also conducted various sports programmes for its employees to mark the cooperative week and prizes were given at the valedictory held at the bank on Monday.

City MLA and TTD Chairman Bhumana Karunakar Reddy who participated as the chief guest in the valedictory function, lauded the performance of the bank which is one of the leading cooperative banks in the country.

Cooperative bank chairman Ketham Jayachandra Reddy said that the bank has 1,34,500 shareholders and 119 employees. The bank is the biggest among the coop banks in the State with its annual turnover crossing Rs 500 crore while it has deposits worth Rs 280 crore. It has provided loands under various schemes to the tune of Rs 218 crore. Vice-chairman Vasu Yadav, District Cooperative Officer (DCO) Srinivas Reddy, Bank Managing Director Sivakumar Reddy and officials including Nagavaradhini, Ravi Babu, and Venkatesh were present.