SCDCC bank to open branches in other districts: Chief

SCDCC bank to open branches in other districts: Chief

The bank, following the recommendation of the Vaidyanathan Committee report will open up branches in other districts of the State. The expansion of the bank was restricted within the district before the Vaidyanathan committee report was out.

Addressing a news conference on Thursday, State Apex Bank President M N Rajendra Kumar said that SCDCC bank will be the first co-operative sector bank in the State to open branches outside the district.

Further pension facility will be extended to the employees of the bank from the current year itself. The taluk branches will soon have video conferencing facilities, with the help of which the customers can have direct contact with the bank head office in Mangalore.

There are plans to bring all the branches of the bank under core banking and as many as four branches will have the services soon.

All time high

SCDCC bank has registered a profit of Rs 11.10 crore during the year ended 31-03-2011, which is an all time high recorded by the bank over its 98 years of existence. Though the bank had set a target of making business of Rs 1,800 crore during the year, it has exceeded the target and made a total transaction of Rs 1,878.03 crore. The bank has collected a deposite of Rs 1,071.19 crore and dispersed advances of Rs 1,000 crore in its 54 branches in the district.

Advances and recovery

Kumar said that the bank had provided advances of Rs 488.12 crore as agriculture and agriculture development short term loan along with Rs 25.72 crore mid term loan, thereby summing a grand toal of Rs 513.84 crore as agriculture loan. The bank has 100 per cent recovery of the agriculture loans.

Talking about performce of SCDCC bank, Kumar said that the bank has received Apex Bank Award 12 times and Nabard award 10 times, which speaks a volume on the standard of performance exhibited by the bank.

The bank had 23,767 Navodaya Self elp Groups formed till March 2011 with a membership of 1,88,012.

As many as 24,568 SHGs have received loan of Rs 101.73 crore.