MCDCC Bank sees three-fold growth in five years

MCDCC Bank sees three-fold growth in five years

August 27, 2023

Pratibha Puraskar given to meritorious children of members

Mysore/Mysuru: President of Mysuru and Chamarajanagar District Central Co-operative (MCDCC) G.D. Harish Gowda said that the Bank has seen a three-fold growth in the past five years.

He was speaking after chairing the Bank’s Annual General Body Meeting (AGM) for the year 2022-23, at KSOU Convocation Hall in the city on Thursday .

Maintaining that MCDCC Bank has recorded a growth in deposit collection, lending of loans and all other sections, Harish Gowda, who is also the JD(S) MLA from Hunsur, said that the Bank has become a model in the State for its functioning and performance.

Noting that the Bank, which was established 62 years ago, has seen many ups and downs over the years, he said that he took over as the President of the Bank five years ago at a time when the Bank was on the brink of closure due to rampant irregularities.

But now the Bank has made a complete turnaround in these five years by overcoming problems and challenges, he said adding that the Bank has been very responsive to the farmers and went through the COVID crisis successfully.

Pointing out that the deposits which stood at Rs.377 crore in 2018 has risen to Rs. 945.37 crore in 2023, he said that Rs.636.76 crore loan was lent to 35,400 families of Mysuru district and Rs.208.49 crore loan to 15,519 families in Chamarajanagar district. The total transaction of the Bank for the year 2022-23 was recorded at Rs.2,503.38 crore, he added.

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Continuing, Harish Gowda said Bilikere, Hunsur, Periyapatna, Sathagalli, Hebbal, Talkad, Bannur, Santemarahalli, Bherya, Hullahalli, T. Narasipur, Kollegal and Yelandur branches of the Bank has been renovated and computerised.

“After I became a Director of Apex Bank, 47 Primary Agricultural Credit Co-operative Societies coming under MCDCC Bank have collectively got a subsidy of Rs.3.74 crore in three years. Also, the MCDCC is the first District Co-operative Bank to get a financial support from the Apex Bank for  construction of a new building,” he said.

Several Co-operative Societies were presented prizes for their good performance, senior Co-operatives were honoured and  pratibha puraskar was presented to meritorious children of the Bank members on the occasion.

MCDCC Bank Vice-President M.P. Sunil, Directors Amit Devarahatti, B.N. Sadananda, K.S. Kumar, Dr. M.B. Manjegowda, M. Kumar, K.J. Mahesh, Kempanna, C.N. Ravi, H. Subbaiah, H.J. Nagaprasad, Nagendra Kumar, Jayaramu and  H.J. Shivaraj, Bank  CEO J.C. Janardhan, General Manager Shashidhar, Manager Ravi, Deputy Registrar of Co-operative Societies Manjunath Singh and others                            were present.


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