Impressed by the growth of Visakhapatnam Cooperative Bank, Commissioner of Capital Region Development Authority Dr Cherukuri Sridhar assured it of all help including lands and related facilities should the Bank decides to come to the capital of Navyandra. Sridhar was inaugurating the 48th branch of Visakhapatnam Cooperative Bank for public last week.
Sridhar said the bank is taking the cooperative principle of helping out the downtrodden to its logical conclusion. He also congratulated the management and staff of the bank for working in a positive way and extending extraordinary service to the public in the cooperative banking industry.
Sridhar however cautioned that co-op banks have to adapt to modern technology and be in tune with the changing times. “You also need to have organizational overhaul”, he underlined.
Chitturi Ravindra garu President AP State Cooperative Urbans Banks and Credit Societies Federation and Chairman Kakinada Town Cooperative bank Ltd and Shaik Abdul Jeelani garu Vice President – AP State Cooperative Urbans Banks and Credit Societies Federation and Chairman – Gooty Cooperative Town Bank jointly inaugurated the new ATM installed in the Bank premises.
Ravindra, expressed his wish that the Visakhapatnam Cooperative bank should make progress day by day by expanding its activities. Jeelani said the bank stands as an inspiration for the cooperative sector.
Chairman of VCB Chalasani Raghavendra Rao said that the Visakhapatnam Cooperative Bank stood as an example
While commercial banks are charging huge penalties on minimum balances, our bank is extending the facility of opening an account with zero balance to the public, Chairman stated.
Manam Anjaneyulu, Chairman Emeritus said constant political interference is weakening urban co-op banks which are in existence for so many years. He also said that the cooperatives should keep people in mind while making policies.
The changing economic conditions have to be studied with scientific vision. The cooperative system will progress only when the governing body, employees and borrowers discharge their respective role with 100% of commitment, Anjaneyulu stressed.
Besides Chitturi Ravindra and Shaik Abdul Jeelani, Smt N. Radhika Madhavi District Cooperative officer, Sri B. Srinivasa Yadav Chairman Guntur Cooperative bank ltd, Sri K. Satyanarayana garu ,Chairman – Bapatla Cooperative Urban Bank, Sri D. L. Kantha Rao garu Chairman, Kakatiya MACS Ltd., Sri S. Nageswara Rao Chairman, Tenali Cooperative Urban Bank Ltd, Sri K Satyanarayana garu Chairman – Eluri Cooperative Town bank and several dignitaries from Cooperative Sector participated in the event.