JOIN USTDCC Bank waives Rs 4.72 crore loans of 1,620 farmers
Tumakuru District Co-operative Central Bank has waived debts running into Rs 4.72 crore of 1,620 farmers, said TDCC Bank president K N Rajanna.
In a press meet held here on Saturday, Rajanna said, “Farmers are reeling under mounting debts and crop failure because of drought conditions. TDCC Bank has responded to the problems faced by the farmers by waiving loans for the past two years or so. Last year the bank had waived debts of 1,604 farmers. The bank will soon issue no dues certificate to the farmers who have cleared their debts,” the TDCC Bank president said.
The bank has a share capital of Rs 51.26 crore. It has the deposit of Rs 593.98 crore.
The TDCC has distributed agricultural loans of Rs 360 crore and sanctioned non-agricultural loans up to Rs 529 crore. It has recovered 97% of farm loans and 95% of non-agricultural loans, Rajanna explained.
The bank has recorded a profit of Rs 15.81 crore in the last fiscal year. It has secured A grade in audit report from 2009. It has received Karnataka State Apex Bank award, he added.
The TDCC Bank president said that the bank will start its new branches, this fiscal, at Arasikere in Pavagad taluk and Holavanahalli in Koratagere taluk. He further added that the bank would spread its wings at hobli centres in the coming years.
Tiptur branch of TDCC Bank is operating from own building while the construction of buildings for the Chikkanayakanahalli, Kunigal and Madhugiri branches of TDCC Bank is underway, Rajanna said.
Tumakuru District Central Co-operative Bank Chief Executive Officer T V Narasimhamurthy, Zilla Panchayat member G J Rajanna, Singadahalli Rajkumar and others were present.