Telangana Today reports the state government is making efforts to strengthen District Cooperative Central Banks across all the districts and open new branches. The move is aimed at expanding banking services for the farmers.
The Telangana State Cooperative Apex Bank (TSCAB) has carried out computerisation of 795 Primary Agricultural Credit Society (PACS) to achieve the goal. Sources say Nabard will also be involved in setting up a network of branches of DCCBs so as to ensure better banking services for the farmers in the state.
In a parallel development Telangana Chief Secretary has suggested that NABARD officials conduct a feasibility study to open new branches to extend services to all the villages in the State. He also wanted them to prepare a note on the report submitted by the high-level committee to strengthen the Cooperative Credit System in the State.
Telangana State Cooperative Apex Bank Chairman Konduru Ravinder Rao was unanimously elected as the new President of the apex body of state cooperative banks-Nafscob on Monday. Of the six Vice-Chairmen, two are newcomers.
Rao belongs to Telangana Rashtra Samithi and is believed to be a close associate of the state Chief Minister K Chandrashekar Rao. He replaced Dileepbhai Sanghani who relinquished office after becoming the Chairman of NCUI.
The election of the board of directors took place in the general meeting held on Tuesday in Mumbai. On the occasion six vice-chairmen were also elected unopposed.
In the list of six new Vice-Chairmen Uttarakhand State Cooperative Bank Dhan Singh Rawat and Mizoram State Cooperative Bank T Lalmuanpuii have been elected unanimously for the first time whereas Karnataka State Cooperative Bank Director K N Rajanna, Bihar State Cooperative Bank Chairman Ramesh Chaubey, Goa State Cooperative Bank Ulhas Desai, Himachal Pradesh State Cooperative Bank Khus
Karimnagar DCCB chairman is new NAFSCOB chairman
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Konduru Ravinder Rao is the first Telugu speaking person to head national apex bank
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Konduru Ravinder Rao is the first Telugu speaking person to head national apex bank
Telangana State Cooperative Apex Bank (TSCAB) chairman and Karimnagar District Cooperative Central Bank (DCCB) chairman Konduru Ravinder Rao has been unanimously elected as the chairman of the National Federation of State Cooperative Banks Limited (NAFSCOB).
This is the first time in the 55 years history of the NAFSCOB, an apex body for the cooperative banks of the country, a Telugu speaking person was elected as the national body chairman for a period of five years. Mr Ravinder Rao would be heading the NAFSCOB which comprises of 33 state cooperative banks and 393 district cooperative central banks in the country. Mr Rao was elected as chairman at the NAFSCOB general body meeting which was organised on Tuesday in Mumbai. After the e