Cooperative societies growing faster than banks, says SCDCC chairman

Cooperative societies growing faster than banks, says SCDCC chairman

Mangalore Today News Network

Mangaluru, Dec 02, 2019:    Speaking at a programme held at Dakshina Kannada Cooperative  Employees Cooperative  Society building ‘Unnathi’, in front of P V S Kalakunj in Kodialbail ; Cooperative sectors play a vital role in the development of the economy of the country. At a time when nationalised banks are merged, the cooperative societies are in the mode of expansion by opening new branches, said SCDCC Bank Chairman M N Rajendra Kumar.

 

Kumar said, “Cooperative societies are growing faster than the banks. Cooperative societies have been able to reach out to last stratum of the society.”

The number of branches of nationalised banks are being reduced in the recent past, he added.

MLA D Vedavyas Kamath said, “People have liking towards cooperative societies. Cooperatives have played a vital role in the growth of the district.”