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SCDCC Bank posts Rs 9.27 crore profit

SCDCC Bank posts Rs 9.27 crore profit

Mangalore Today News Network

Mangalore, Jan 15: The South Canara District Central Co-operative Bank (SCDCC) has registered a profit of Rs 9. 27 crore for the year 2009-10, the highest in the bank’s 97 years history, said SCDCC Bank Chairman M N Rajendra Kumar.


Addressing a press meet here on Monday, he said the bank’s business has crossed Rs 1,665.15 crore during the year which includes Rs 927.07 crore deposits. The bank has disbursed Rs 794.75 crore loan. Of which, Rs 434.74 crore is given for agriculture sector.

He said as RBI has given its nod to operate it in the state-level, South Canara District Central Co-operative Bank is planning to increase its deposits to Rs 2,000 crore in the next three years. SCDCC Bank is the only co-operative bank which has been given permission to operate in the state-level.

New branches

Rajendra Kumar said as per the Prof Vaidyanathan Committee Implementation report, the SCDCC Bank is planning to open its branches in other districts of Karnataka. Accordingly, six branches will be started in Bangalore, one in Bhatkal and Honnavar. “We have also received demand from Hubli and Belgaum, which will also be taken into consideration. In Dakshina Kannada, five more branches will be started at Farangipet, Subrahmanya, Kalyanpura, Urwa Store and Mani.”

He said SCDCC Bank has constituted 22,187 Navodaya Self-Help Groups with 1,88,012 members. Bank has disbursed loan of Rs 91.49 crore to 23,111 Self Help Groups. Navodaya group members have saved a sum of Rs 54.09 crore.

Under Mangala Kissan Credit Card scheme, farmers are given quick crop loan facility. 68,088 eligible farmers have been included in the scheme. Of which, 57,278 Kissan Credit Card holders have been given accident insurance facility.  Under Yashaswini health scheme, 1,72,568 farmers have been enrolled in undivided Dakshina Kannada district, he informed.

On new scheme, he said the SCDCC Bank will introduce a scheme in which 90 per cent of the total value of the gold pledged will be given as loan from Tuesday onwards.

Core Banking

He said core banking facility will be introduced in all its branches by March 31, 2011. Pension scheme will be introduced for the SCDCC Bank employees.

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