MCDCC Bank extends Rs. 452.47 crore loan in 2016-17
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MCDCC Bank extends Rs. 452.47 crore loan in 2016-17

August 10, 2017

Mysuru: The Mysuru & Chamarajanagar District Central Co-operative (MCDCC) Bank has extended a loan of Rs. 452.47 crore last year according to the Bank Chairman S. Chandrashekar.

In a press release, Chandrashekar said that the loans disbursed included Rs. 357.41 crore short-term crop loan, Rs. 59.93 crore to new members of the Bank, Rs. 13.01 crore medium-term agricultural loan and Rs. 3.68 crore for purchase of tractor-trailers. also, 2,424 farmers have been extended Rs. 15.84 crore firewood loan, Rs. 3.93 crore to 168 Self-Help Groups, Rs. 8.30 crore credit loan to six Co-operative Societies and Rs. 69.82 crore non-agricultural loan to 9,687 members of the Bank, he said.

Continuing, Chandrashekar said that as per the Government’s plan, the Bank has extended Rs. 3 lakh loans to farmers at zero percent interest in 2016-17. Pointing out that the Bank has proposed to extend Rs. 421 crore loan to 48,850 farmers in 2017-18, he said.

Asserting that the Bank had shown progress in loan recoveries, he said that the Bank had recorded 76.60 percent agriculture loan recovery and 91.44 percent non-agricultural loan recovery.

Stating that the Bank was working in tandem with the Chief Minister’s pro-farmer initiatives, he said that meritorious children of the Bank employees who scored 90 percent plus marks in SSLC and PUC were presented Pratibha Puraskar. He further said that the Bank recorded a net profit of Rs. 3.15 crore in 2015-16 and Rs. 3.25 core in 2016-17.

Explaining the new initiatives of the Bank, Chandrashekar said that the Bank had distributed RuPay debit cards to farmers and an ATM has been installed at the Bank’s Head office in Nehru Circle on Ashoka Road.

Also, four new branches — two in Mysuru city and one each at Saragur in H.D. Kote taluk and Talakad in T. Narasipur taluk will be opened this year, he added.

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