UP: Turnaround of co-op banks under BJP rule

UP Co-operative banks have notched up their highest net profit of Rs 50.91 crore in the last 2017-18 fiscal. The bank is set to use complete business solution’ software in its 16 District Co-operative Banks, reports The Pioneer.

The 16 DCBs had earlier been allowed by the RBI to carry out banking operations. .

Talking to journalists, Co-operative minister Mukut Bihari Verma told said of the total 394 branches of the 16 DCBs, 353 branches have been linked with CBS and the rest would be also be linked with CBS soon.

According to the minister, during 2017-18, the DCBs made a total advance of Rs 1,421 crore to farmers for Rabi crop. Verma claimed that the total deposits of DCBs by March 31 this year stood at Rs 15,631 crore but their recovery of loans was disappointing.

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