Jagtial: Cooperative banks to strengthen rural societies

Jagtial: The Cooperative banks topped the list in the State in giving loans to rural women and in developing rural societies. The bank, which started with Rs 200 crores, is now has a turnover of Rs 3,000 crores, said District Collector Dr A Sharath.

Along with Karimnagar District Cooperative Central Bank Chairman Konduri Ravinder Rao, the Collector, the chief guests, distributed loans to women beneficiaries under Jagtial branch of Karimnagar DCCB at Ponnala Gardens here on Wednesday.

Speaking on the occasion, the Collector said that banks should come forward and give loans to the villagers in order to strengthen and develop villages. It is the Cooperative Central Bank, which is becoming an example for other banks in issuing loans to rural women and enabling them to develop financially.

The bank had sanctioned loans of about Rs 1.50 crores to the women of Jagtial district so far. He assured that the village women of the district will never let the bank down in paying the instalments on time, if the bank sanctions maximum loans to them.

The Collector said that there are very few godowns in the district and the Cooperative Bank had promised to sanction loans for the construction of godowns. He ordered the DRDA to prepare proposals for the construction of godowns in the district.

Karimnagar District Cooperative Central Bank Chairman Koduri Ravinder Rao said that loans amounting to about Rs 19.40 crores have been sanctioned to the people of the district till date. Loans will be sanctioned definitely to such societies, who work properly and pay instalments on time. If there is cooperation from the customers, then the bank also will cooperate in the same manner, he assured. Stating that the main aim of the government is to develop rural people financially, the Chairman advised the villagers to develop economically by taking loans.

DRDA Project Director Bikshapathi, Additional PD Satish, LDM Lakshminarayana, KDCC Bank Director Gangadhar and bank staff were present along with others.