SCDCC Bank earns Rs. 17.76 crores profit; 10.50 percent dividend announced

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Mangalore, September 1: The South Canara District Cooperative (SCDCC) bank gained the profit of Rs. 17.76 crore and it will give the 10.50percent dividend to member organisation, said Bank president Dr. M.N Rajendra Kumar.

He was speaking in the annual meet of the bank, which held at T.V. Ramana Pai convention hall, Mangalore.

He said that  in the fiscal year bank business crossed  reaching to 2,710.00 crore and achieved 2,925.55 crore and collected 1,566.23 crore. Bank having 902 cooperative organisations membership and 100 percent agriculture loans paid back and this procedure is following from 18 years, which is national record, he said.

In the self help groups’ construction bank stands first and constructed 38,988 self help group with support of several organisations.  The savings of these group is 101.75 crore and it has given Rs.134.60 crores of loans to 28,724 groups for low interest and so far apex gave award to the bank from 14 years and NABARD gave award from 11 years, he said.

On the occasion every organisation opposed the circular given by the NABARD.

Recently, due to the heavy rain from the three month, 50 percent of crops got damaged. To refill the damage, state and union government must take an action and solution amount also must go through cooperative bank, they decided.

Bank vice president Vinay Kumar Soorinje, directors B. Niranjan, T.G Rajaram Bhat, M. Vadiraja Shetty, K.S. Devaraj, raghurama Shetty and others were present.

 By: Sathish Kapikad

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