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The Hindu
The Hindu
National
The Hindu Bureau

YSRCP govt.’s reforms turned APCOB, DCCBs profitable, says Jagan

YSR YSRCP Jagan Mohan Reddy RBKS Economy Eluru

Chief Minister Y.S. Jagan Mohan Reddy said that the growth journey of the cooperative banking sector in the State began four years ago after the government implemented the recommendations of NABARD Consultancy Services (NABCONS).

Participating in the diamond jubilee celebrations of the Andhra Pradesh State Cooperative Bank (APCOB) here on Friday, Mr. Jagan Mohan Reddy said that APCOB has seen several ups and downs in its 60-year history and has now grown to the stage of handholding farmers and contributing to their economic prosperity and strengthening the rural economy.

Following NABCONS recommendations, the government amended the 1964 Act to strengthen the cooperative banking governance and appointed professionals to run APCOB and the district cooperative central banks (DCCBs) through a uniform selection process besides funnelling ₹295 crore as share capital for DCCBs, he said.

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