Karimnagar: KDCCB welcomes the BR Act

Karimnagar: Telangana State Cooperative Apex Bank (TSCAB) MD Dr Nethi Muralidhar has enlightened the officials of Karimnagar District Cooperative Central Bank about the implementation of the Banking Regulation Act and the formation of separate ministry for cooperation in the Union cabinet.

Welcoming the BR Act and the constitution of the Ministry for Cooperation, he said that it was a welcome sign for the growth of the cooperatives in the country. Similarly, the DCCB officials should also comply with the amended provisions of the BR Act and gear up for the changing challenges as they fall under the regulatory framework of the RBI, he stated.

Dr Muralidhar, who was on a private programme in Karimnagar town on Monday, visited the KDCCB and interacted with the officials. Praising the Karimnagar DCCB for its steady growth and performance and winning accolades in the country, he appreciated the bank staff for their team and achieving several national awards including the Best cooperative bank in the country from NABARD.

Calling upon the bank officials to strive hard to achieve the target of doing business of Rs 5,000 crore during the financial year, he stressed on the need for the diversification of business activities. Quoting the example of the diversification of PACS into multi service centres, he also informed the bankers to focus on extending loans to the Farmer producer companies (FPO). CEO N Satyanarayana Rao, general manager B Sridhar and others were also present.