Bank Makes Rs 1.72-crore Profit

[sajiv]

RAICHUR: The Raichur District Cooperative Central (RDCC) Bank registered a net profit of Rs. 1.72 crore on a turnover of Rs. 244.94 crore in 2007-08.

Addressing a press conference here, Sharanegouda Bayyapur, chairman of the bank, said the bank had a network of nine taluk branches, eight semi-urban and rural branches, and 215 agricultural cooperative societies in Raichur and Koppal districts.

Although it was providing loans to farmers in these districts at an interest rate of 3 per cent a year, it was able to maintain an NPA (non-performing assets) level of 4.40 per cent, 08 which was below the 5 per cent fixed by the Reserve Bank of India, he said.

Mr. Bayyapur said the bank had extended crop loans to about 60,000 farmers. It also gave loans for the construction of krishi hondas (agricultural ponds), implementation of lift irrigation schemes, development of horticulture, and finance linkage to self-help groups.