Deposits sink in co-op banks

Times of India reports deposits in cooperative banks in Tamil Nadu have gone down by 27% in 2017-18 compared to the last fiscal. The deposit in cooperative banks in 2017-18 was Rs 8,271.86 crore and it was Rs 11,240 crore in 2016-17.

However, , the banks’ reserves went up from Rs 778.66 crore to Rs 793.75 crore in the last financial year and the net profit also went up from Rs 43.70 crore to Rs 132.81 crore.

Tamil Nadu cooperative minister Sellur K Raju revealed these figures in a reply to a query in the state assembly.

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