TCBL launches special drive for recovery of outstanding dues

Tirupati: The Tirupati Cooperative Bank Limited (TCBL) launched a special drive for the recovery of long outstanding dues. Bank chairman Ketam Jayachandra Reddy, speaking to the media here on Friday, said Rs 52 lakh long pending dues were recovered against the total dues of Rs 11.5 crore, after he was elected as the bank chairman three months back.

He said the new Board of Directors i.e. the bank governing body led by him has taken up a series of measures including recovery of long pending loans and other outstanding dues, opening of new accounts and improving customer services in a big way.

Reddy said the verification of records revealed that the previous governing body led by TDP leader Pulugoru Murali Krishna Reddy (ex-chairman) indulged in corruption and added that he misused his position as chairman and availed crores of rupees loans.

He said the irregularities of TDP leader came to light after YSRCP came to power. The bank will initiate all possible measures including legal course to recover the bank loans and all long pending dues to strengthen the bank financially. Bank vice-president Vasu Yadav, Directors Anil Royal and Venkatesh participated.