Performing spectacularly, Maharashtra based Bhandara District Central Cooperative Bank has so far disbursed Kharif Crop Loan to the tune of Rs 156 crore. It aims to achieve a target of disbursing loan to the tune of Rs 250 crore till August 2019, said its Chairman.
In a telephonic communication with Indian Cooperative Correspondent Sunil B. Funde Chairman of the bank said, “We are goading others as well to disburse as much loans to the farmers as possible. Funde also felt that since their priorities are somewhere else Nationalized Banks take too long a time in disbursing loans to farmers and in thus DCCBs are their only hope.
Talking about his co-op bank, the Chairman said “Bank is having a deposit base of Rs 1100 crore and loan and advances of Rs 650 crore. Bank has 46 branches across the Bhandara District and it has installed 20 ATMs. Nabard has sanctioned 250 micro ATMs to the bank”, informed Funde.
“Our Net NPA is over 18 percent and Gross NPA is 22 percent. The NPA of bank is rising because from last three years government has announced loan waiver scheme for the farmers”, said Funde.
In last FY bank has earned a net profit of around Rs 1.17 crore. Over 368 PACCS societies are the shareholders of bank.
“I agree that the government has reimbursed the payment but still huge amount is pending with it under the loan waiver scheme. We hope that it would be released sooner than later”, said the Chairman to this correspondent on phone.
He demanded that government should implement its schemes through cooperative banks as they are best suited for the purpose having their network spread across the countryside. “Govt should also deposit their money with cooperative banks. It should encourage us by roping us in for the disbursal of government employees’ salaries through us”, Funde demanded.
Government should also remove income tax burden from the cooperative bank. The issue is pending for several years but government has not done anything in this regard so far, he lamented.
Bandhara District Co-operative Bank Ltd. was incorporated in 2003 at Bhandara, Maharasthra by a group of ambitious and enterprising entrepreneurs.
Over the 10 years that followed, Bandhara District Co-operative Bank Ltd. with its rich heritage has earned the trust and goodwill of clients, claimed the Chairman