Minister opens new building of KDCC Bank’s Mopidevi branch

Minister for Excise and Mines, Kollu Ravindra, inaugurated the newly constructed Krishna District Cooperative Central (KDCC) Bank building in Mopidevi on Thursday. The new KDCC Bank building was completed at a cost of Rs 1.10 crore. Minister Ravindra was joined by Avanigadda MLA, Mandali Buddha Prasad, and Krishna District Collector, Gitanjali Sharma, during the inauguration.
Speaking at the event, Minister Ravindra highlighted that the KDCC Bank was established in 1915 by freedom fighter and Congress leader Bhogaraju Pattabhi Sitaramaiah, with support from local farmers. He also recalled Sitaramaiah’s significant role in founding Andhra Bank and LIC. The KDCC Bank now operates 57 branches across Krishna and NTR districts, with 531 societies affiliated to it.
The Minister praised the KDCC Bank’s management for providing loans to farmers during difficult times and supporting education. He also mentioned that ATMs have been set up to offer greater convenience to depositors. He commended cooperative banks for their vital role in strengthening the Indian economy.
Minister Ravindra further revealed that KDCC Bank holds deposits worth Rs 3,200 crore and has contributed Rs 20 lakh to the Chief Minister’s Relief Fund (CMRF) for flood relief operations. He criticised the YSRCP government for neglecting the cooperative sector during its five-year rule while affirming that the Chandrababu Naidu-led government has strengthened cooperative societies and banks in the state.
MLA Mandali Buddha Prasad noted that the KDCC Bank continues to generate profits and provide services, especially to the farming community. KDCC Bank CEO A Shyam Manohar, General Manager Chandrasekhar, and AGM G Surya Prakash Rao were also present at the event.