Karnataka
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Sullia: 54th Branch of SCDCC Bank Inaugurated at Guttigar
- Mon, Nov 10 2008 06:49:23 AM
Daijiworld Media Network—Sullia (RD/CN)
Sullia, Nov 10: The rural co-operative banks are struggling to get subsidies as well as waiver of loans and interests announced by the state government. They are incurring losses as a result of not getting these subsidies on time. Although the state had introduced the scheme for the benefit of agriculturists, there have been hindrances in executing them, said M N Rajendra Kumar, president, South Canara District Central Co-Operative Bank (SCDCC), on Saturday November 8.
He was giving the presidential address at the inaugural of the 54th branch of SCDCC Bank at Guttigar, near here, on Saturday. Western banks are reeling under the financial crisis caused by reckless lending to investors and landlords. However, banks in India are not facing such a serious situation as they have given loans mainly to agriculturists, he added. SCDCC Bank ranks first in the co-operative banks in the country while Satara District Co-Operative Bank from Maharashtra, and Vidhyasagar District Co-Operative Bank from West Bengal, are second and third respectively, said Kumar.
MLA Angara inaugurated the new branch by presenting the first savings bank account pass book and said that SCDCC Bank was a boon to agriculturists seeking easy and secure loans. Sri Vidyaprasannateerta Swami of Subramanya Math, after releasing the first deposit certificate, said that co-operative establishments are essential in the rural areas and SCDCC Bank had come closer to the farmers by opening their branch in the locality.
Zilla panchayat member Venkat Dambekody, inaugurated the computerized accounts and presented the papers of an approved auto loan to the first customer. Guttigar Co-Operative Bank president A V Tirtaram inaugurated the strong room and presented the papers of an approved home appliances loan to the first customer. Sullia taluk rubber planters’ co-operative society president Nityanand Mundody, inaugurated the anywhere banking facility and conveyed best wishes to the branch.
SCDCC Bank director Devaraj K S welcomed the gathering. Bank managing director P Narayan Kamath proposed the vote of thanks. Jayaram Devappajjaramane and K T Vishwanath compered the programme.