HDCC Bank nets 12 crores profit

HDCC Bank nets 12 crores profit

Addressing a news conference in Hassan on Friday, he said that the bank had invested  ` 40 crore in addition to the existing deposit of  ` 214 crore. Besides, it has borrowed  ` 128 crore loans from the Nabard. The bank has deposited  ` 78 crore in the Apex Bank.

It has disbursed  ` 185 crore as agriculture loan among farmers and  ` 110 crore for non-agricultural purposes.

Balakrishna said that steps would be taken for the distribution of loans to landless agricultural labourers to encourage them to take up dairying.

The loans would be distributed after forming groups in villages as per the guidelines from Reserve Bank of India.

Measures would be taken to simplify loan distributing mechanism. The farmers can avail loan just by producing RTC.  The bank had advanced loans to more than 70,000 farmers out of the total 1.3 lakh application received from farmers.

The loan distribution has been stopped recently as Nabard refused to release its share. A delegation of bank office-bearers would meet the chief of NABARD shortly to apprise him regarding the plight of farmers in the district.

He said the bank has 28 branches in the district and two more branches would be opened at Katihalli and Channarayapatna taluk.

Only five branches have permanent buildings and the rest of them were working in rented buildings. Plans are afoot to buy buildings at least in three taluks.

Balakrishna said that State Government has to release  ` 13.57 crore as subsidy for various loan schemes of farmers.

Vice-President of the Bank Yogeshappa, directors and others were present.