Telangana State Co-op Apex Bank grows unhindered
Doing well in the last fiscal, the Telangana State Cooperative Apex Bank has raised its profit by more than Rs 15 crore. While it was Rs 51 crore last year, this time the gross profit has gone up to Rs 67 crore.
The Co-op Bank has set a business target of Rs 16,000 crore for the financial year 2021-22 as its business turnover rose to Rs 13,300 crore from that of Rs 12,000 crore, reports Telangana Today.
There are nine District Cooperative Central Banks in the state and the apex bank itself has about 42 branches. The apex bank keeps holding review meetings and gives targets to the co-op banks for further growth.
TSCAB Chooses Aruba s SD-Branch Solution for Seamless Business Connectivity and Services
Wednesday, April 14, 2021 12:25PM IST (6:55AM GMT)
Enabling seamless and secure banking experience through high-performance network architecture
Hyderabad, Telangana, India: Aruba, a Hewlett Packard Enterprise company, today announced that Telangana State Co-Operative Apex Bank (TSCAB), a state cooperative bank committed to rural and agriculture development across Telangana state, is implementing Aruba’s Software-Defined Branch (SD-Branch) solution to enable seamless core banking applications access. This enables centralised branch management, monitoring and troubleshooting of gateways and network switches across its 413 branch offices and data centres. The entire solution will be monitored, managed, and orchestrated using Aruba Central, a cloud-native service designed to unify the management of campus, branch, remote and da
It also records lowest NPA among all States
The Telangana State Cooperative Apex Bank has reported a profit of ₹ 67.20 crore during the just-concluded financial year 2020-21 in spite of the slowdowns caused by the outbreak of Coronavirus and subsequent lockdown.
The bank’s profit was 31.38 % higher than the previous year’s ₹ 51.15 crore and it had also reduced its non-performing assets from 0.17 % to 0.14 % during the period. Since its formation in 2015, FY21 was the best performing year for the TSCAB as it has achieved all the targets set for the fiscal. In the process, the TSCAB set a record of sorts among the State cooperative banks registering the lowest NPA.
TS Cooperative Apex Bank FY21 profit up 31% at ₹67 crore
April 05, 2021
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Telangana State Cooperative Apex Bank (TSCAB) s gross profit increased 31 per cent at ₹67.20 crore during the financial year ended March 31,2021 as against ₹ 51.15 crore during the previous fiscal.
“Since the formation of TSCAB in the year 2015, the financial year 2020-21 has been the best year for the Apex bank as it surpassed all the targets set during the fiscal year,” the bank said in a release.
With only 0.14 per cent of gross Non-Performing Assets (NPAs), TSCAB had set a ‘record’ among all the state cooperative banks in the country with lowest NPAs, it added.
KTR on inauguration spree
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Minister K. T. Rama Rao at a programme in Sircilla district on Saturday. | Photo Credit:
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Industries Minister K.T. Rama Rao went on an inauguration spree in Mustabad and Yellareddypet mandals of Sircilla district on Saturday, travelling to half a dozen villages.
He inaugurated 65 double bedroom houses constructed at a cost of ₹ 3.27 crore and a petrol bunk set up by a primary agriculture cooperative society at Mohinikunta village, farmers’ platforms (Rytu Vedika) at Maddikunta, Cheekodu, Mustabad and Avunuru and gram panchayat office at Cheekodu village. He also inaugurated a community hall and a crematorium at Haridasnagar in Yellareddy mandal.