The Salem District Central Cooperative Bank, Salem, has earned a profit of Rs. 14.75 crore during the financial year 2009 – 2010, which is the highest profit ever recorded in the history of the Bank, started in the year since 1909, said S. Ramadass, Bank’s Special Officer.
Declaring this at its 102nd General Body Meeting held here on Wednesday, Mr. Ramadass, who presided over it, said that the bank had deposits of Rs. 1,650 crore out of which Rs. 239 crore were received during 2009 – 2010.
“The bank has provided Rs. 203.54 crore under the Kisan Credit Card scheme loans to 3,83,413 beneficiaries – farmers through Primary Agriculture Co-operative Credit Societites (PACCS),” he said.
He further added that the bank had 60 branches functioning in Salem and Namakkal districts, out of which 31 were having locker facilities.
“It has also given directly and also through PACCS Rs. 38.27 crore of loans to 13,550 SHG women members and provided loans under TABCEDCO scheme to 5,030 beneficiaries to the tune of Rs. 9.84 crore.”
K.C.Ravichandran, Regional Joint Registrar of Cooperatives in his address said that the Cooperative movement was mainly supporting the development of farmers’ Joint Liability Groups and Women Self Help Groups by providing loans through PACCS.
“For these sectors the financial support is given by the Salem District Central Cooperative Bank. It is certain that the rural upliftment is only possible through cooperative sector,” he said.
S.Srinivasan, Joint Registrar, Namakkal, K.Ananthi, Special Officer, TCMS, Banks Auditor Mr.Rathinasababathy and Circle Deputy Registrars of Salem and Namakkal districts, Special Officers and secretaries of Urban Cooperative Banks, PACCS and representatives from member societies participated. Currency counting machines and chest of drawers had been distributed to the 56 PACCS for best performances in both districts.
K.Ramasamy, Bank’s General Manager C.Danajayan, Assistant General Manager and others spoke.
Source: THE HINDU