PNS|Vijayawada
The YSRCP government is committed to providing support to the cooperative sector in Andhra Pradesh. It aims to enable cooperative banks to operate profitably by embracing innovative technologies and methods, affirmed Agriculture Minister Kakani Govardhan Reddy.
Inaugurating a two-day conference of District Central Cooperative (DCC) Bank CEOs from various districts at the Central Co-operative Bank in Nellore on Friday, Govardhan Reddy highlighted that Chief Minister YS Jagan Mohan Reddy had accorded the highest priority to the cooperative sector. Thanks to the Chief Minister’s visionary policies and initiatives, formerly struggling cooperative banks were made profit-making entities. He noted that the Chief Minister’s amendments to the Cooperative Acts, the inclusion of banking and auditing experts in APCOB and DCCB general bodies, and the streamlining of lending processes for farmers based on expert advice have been pivotal in this transformation.
Minister Govardhan Reddy said that the CEOs of cooperative banks, who have gained extensive experience working at the grassroots level and have strong relationships with farmers and the community, possess invaluable insights. He urged them to continue making prudent decisions for the cooperative banks’ future and contribute to their overall development. The Minister underscored the importance of hosting similar conferences in each district to facilitate collective decision-making for the betterment of these financial institutions.
Furthermore, Minister Govardhan Reddy announced the unveiling of a new logo designed to establish a distinctive brand identity for the cooperative sector. He expressed the Chief Minister’s contentment with this recent logo reveal and reiterated the government’s enduring commitment to supporting banks that prioritize the welfare of farmers. The Minister also disclosed the government’s dedicated efforts to restore profitability to the Kurnool and Kadapa Cooperative Banks, which had faced losses due to decisions made by previous administrations, as well as plans to revitalize the Eluru Cooperative Bank.
Mallela Jhansirani, Chairperson of APCOB, said that significant reforms are currently underway within cooperative banks, embracing innovative ideas and cutting-edge technology. This includes the adoption of e-office systems, e-stamping, and online services, all of which are being transitioned onto digital platforms. Furthermore, she highlighted that cooperative societies are taking the lead in establishing petrol stations and warehouses. The government is actively working to expand the service offerings of cooperative banks to further benefit the community.
Chairman of NDCC Bank, Kamireddy Satyanarayana, urged authorities to prioritise bank digitisation to expedite the approval of crop loans for farmers, with the goal of providing these loans within 24 hours. He said that, thanks to the cooperation of all members of the bank’s governing body, officers, and staff, the bank has successfully conducted business activities totalling approximately Rs 1,800 crore.
