Minister for Agriculture K. Kanna Babu has said that the cooperative banking sector is being revamped under the guidance of Chief Minister Y.S. Jagan Mohan Reddy and with the assistance of NABARD.
Addressing a review meeting on DCCBs, Mr. Kanna Babu said that the cooperative banks should revamp their existing policies in tune with the present times. The banks should adapt modern banking methods to reach out to customers and offer them better services.
“The Chief Minister announced a share capital of ₹195 crore to nine DCCBs and ₹100 crore to APCOB. We thank NABARD for giving ₹295 crore share capital as a loan,’’ said Mr. Kanna Babu.
NABARD Chairman Chintala Govindarajulu said that DCCBs in the State had performed better than in many States.
“In the future, we will set up cooperative training institutions. The only way we can improve Primary Agricultural Cooperative Societies is by bringing in a greater degree of transparency and accountability. We should focus on extending credit to tenant farmers through Joint Liability Groups, and women through Self Help Groups. The computerisation of PACS should be taken on a war footing,’’ said Mr. Govindarajulu.
Guntur DCCB chairman Rathamsetty Seetharamanjaneyulu (Lalpuram Ramu) said that the DCCB had made rapid strides during the last two years. Business had grown to ₹2,570 crore this year from ₹866.59 crore in 2019. The NABARD chairman released ₹400 crore to SHG women and farmers as a loan this year.
Principal Secretary Madhusudan Reddy, APCOB chairman Mallela Jhansi Rani and APCOB MD Srinath Reddy were present.
