Kodagu DCC bank earns Rs 8.28 cr profit

Addressing a press meet here on Tuesday, Bank President M A Ramesh said the bank has a membership of 277 co-operative societies. The share capital with the bank is Rs 7.10 crore by March 31, 2009. The bank has a deposit of Rs 221.46 crore. The bank had the business of Rs 6,096.09 crore and has Rs 395.66 crore working capital.

The bank has the target to lend Rs 150 crore crop loan and medium loan at the rate of 3 per cent interest. So far, Rs 120 crore loan has been disbursed.

In 2008-09, the bank has given a loan of Rs 199.22 crore. Of which, Rs 117.86 crore is crop loan. Direct loan for agriculture purpose has been distributed at the rate of 3 per cent interest.

He said this year 2,506 farmers have been given loan of Rs 1,669.28 lakh. “We have recovered 95 per cent of the loan lent by March 31, 2009. The bank has collected deposit of Rs 221.46 crore. The bank has been giving 8.25 per cent interest for the deposit,” Ramesh added.

He said Kissan credit cards have been distributed to 29,013 farmers through various co-operative societies. The bank has constituted 3,550 Self Help Groups. 2,585 SHGs have taken a loan of Rs 2065.12 lakh.

The bank has plans to lend loan of Rs 2 crore for the construction of commercial complex.
For the solar power projects, bank is giving a loan of Rs 50,000 at low interest rate.

Bank Vice-President Bharath Kumar, Directors Harish Poovaiah, Thaloor Kishor Kumarm Ballaranda Mani Uthappa, Lava Kushalappa and others were present.

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