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Cooperative banks a major source of agri credit: AP MP
Cooperative sector is playing key role in development of agriculture and allied sectors, said MP K Rammohan Naidu. He participated in 63rd Cooperative Week celebrations at the District Cooperative Central Bank (DCCB) here on Monday.
Srikakulam: Cooperative sector is playing key role in development of agriculture and allied sectors, said MP K Rammohan Naidu. He participated in 63rd Cooperative Week celebrations at the District Cooperative Central Bank (DCCB) here on Monday.
The MP said visionary leaders of earlier generations started cooperative movement with an aim to uplift backward sectors like agriculture, small and cottage industries. Cooperative banks in all areas across the country were extending major share of loans to the poor to meet their needs, he said.
District Collector P Laxminarasimham said human cannot survive without cooperation from others and it is duty of every person towards others which was the basic principle of cooperative sector.
Any group of persons can form a group and carry out an activity within the legal framework for their development and that is what the DCCB was doing in the district, he added.
DCCB chairman Dola Jaganmohan Rao said cooperative movement had a history of 112 years in our country. DCCB in Srikakulam had increased its deposits from Rs 69 crore to 160 crore in three years and investments improved to Rs 132.66 crore, he said and added that these achievements were possible only with better cooperation from farmers and other professionals in the district.
“We are going to start our services in tribal and agency areas and will start new branches in those areas soon,” Jaganmohan Rao added.
MLA G Laxmidevi, Nabard DDM Vasudevan, DCO B Srihari, DCMS chairman, G Krishnamurthy and DCCB CEO D Satyanarayana also spoke on the occasion.
Earlier, Rammohan Naidu hoisted cooperative flag on the DCCB premises and garlanded the photo of former prime minister Jawaharlal Nehru.
