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Loan recovery from bigwigs cause of concern for DCCBs
While farmers repay 95 per cent of the crop loans, only 40 per cent of the total quantum of loan availed by big wigs from cooperative banks gets repaid, according to informed sources. The District Cooperative Central Bank has 26 bank branches and 49 cooperative societies, which have over 61,216 farmers as members.
Vikarabad: While farmers repay 95 per cent of the crop loans, only 40 per cent of the total quantum of loan availed by big wigs from cooperative banks gets repaid, according to informed sources. The District Cooperative Central Bank has 26 bank branches and 49 cooperative societies, which have over 61,216 farmers as members.
The cooperative bank services have improved but the loan dues have become a cause of concern for the banks
According to reports, these bodies have deposits to the tune of Rs 410 crore. The loans advanced to farmers, traders and to industrialists totaled Rs 554 crore, including Rs 170 crore crop loans. As the farmers repay the loans, the bank transactions are on the rise. The banks have been achieving financial stability.
Efforts to bring the cooperative banks on a par with other commercial banks have hit a road block as the influential persons and big farmers are creating trouble in repayment of loans. In fact, 60 per cent of the loans availed by them are recoverable.
The bankers are not coming forward to share the information about such transactions. Notices served on the defaulters have been evoking no response at all. If the bankers adopt an aggressive approach, the defaulters are mounting pressure on the banks using their clout with elected people’s representative.
This year the government has specified that the district cooperative central bank should advance Rs 120 crore as crop loans and Rs 112 crore as long-term loans. Micro ATM services are on the offer in all the DCCB bank branches in the district. Plans are on the drawing board to set up six more cooperative societies in the district. A report on the proposal has been submitted to higher authorities. The cooperative bank services have improved but the loan dues have become a cause of concern for the banks.
There are only two loan recovery officers in the Cooperative Central Bank in Hyderabad. Because of paucity of time, the officials would not be able to undertake visits to rural areas. The bank has no CEO for over sometime as suitable candidates are not available.
