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3 new deposit schemes launched
The Warangal District Cooperative Central Bank (DCCB) Limited has on Sunday introduced three new deposit schemes for the benefit of its customers. DCCB Chairman Janga Raghava Reddy has launched the deposit schemes, called ‘Sahakara Dhana Raksha’, ‘Sahakara Jeevana Darshini’ and ‘Sahakara Dhana Varsha’ at a programme held at the bank premises in Hanamkonda. He also distributed vehicles loans on the
Warangal: The Warangal District Cooperative Central Bank (DCCB) Limited has on Sunday introduced three new deposit schemes for the benefit of its customers. DCCB Chairman Janga Raghava Reddy has launched the deposit schemes, called ‘Sahakara Dhana Raksha’, ‘Sahakara Jeevana Darshini’ and ‘Sahakara Dhana Varsha’ at a programme held at the bank premises in Hanamkonda. He also distributed vehicles loans on the occasion.
Explaining features of the new deposit schemes, he said ‘Sahakara Jeevana Darshini’ and ‘Sahakara Dhana Varsha’ are unique deposit schemes offered only by the DCCB. Under Sahakara Jeevana Darshini, the individuals could deposit an amount of Rs 64,870 for a period of five years and could get a cash certificate of one lakh rupees. Or they could deposit an amount of Rs 32,435 for the same period and could get cash certificate of Rs 50,000.
For the senior citizens, the amount is Rs 63,303 and Rs 31,652 respectively, Raghava Reddy said. ‘Sahakara Dhana Varsha’ is of eight years duration in which the customers could deposit one lakh rupees and an amount of Rs 19,483 would be credited into their savings bank account for every two years for four times during the period. At the end of the term, the deposit amount of one lakh rupees would be repaid to the customers.
Sahakara Dhana Raksha is offered for a limited time period, in which the customers could deposit an amount of their choice for a period of 999 days for which they could get 10 percent interest. The interest offered for senior citizens is 10.50 percent, the Chairman explained.
Giving details of the banks’ progress, Raghava Reddy said the bank which suffered losses for about 34 years is now earning profits. The current business turnover is Rs 600 crore and it is aimed to achieve a business turnover of Rs 1,000 crore in the future. The Bank is functioning with a network of 19 branches covering all the 51 mandals situated in the district. It is planning to set up ATM centres at all the branches for the benefit of the customers.
This year, 65 new employees were recruited to improve the banks’ performance. Besides, crop loans, advances to procure cattle, set up poultry farms, mortgage loans up to Rs 15 lakh to develop lands, gold loans and educational loans up to Rs 25 to 40 lakh were being offered.
In order to strengthen Primary Cooperative Agriculture Societies (PACS), the government should offer an honorarium of Rs 7,000 to the PACS Chairman, Raghava Reddy demanded. The bank General Manager V Surender and the directors were present. Later addressing a review meeting with the employees, the DCCB Chairman said efforts should be made to offer crop loans to farmers at their doorstep. He asked all the employees to work hard to serve the customers and meet the targets.
