The Hindu Business Line : Karnataka State Apex Co-op to revive 4 sick banks

THE Karnataka State Apex Co-operative Bank has taken initiatives to revive four sick district central co-operative banks in the State, according to its Chairman, Mr M.N. Rajendra Kumar.

Addressing presspersons here, Mr Kumar said that efforts to revive Dharwad District Central Co-operative Bank — which has jurisdiction over Dharwad, Gadag and Haveri districts — have been yielding results.

Till now, 65 per cent of loans have been recovered in that bank. As the chairman of the Apex Co-operative Bank, he had announced special packages for the revival of the ailing bank in Dharwad district.

The bank has also been able to collect around Rs 75 lakh deposits, he said.

The Bangalore District Central Co-operative Bank, which was also considered sick, has recovered 60 per cent of loans. Efforts are on to put Tumkur District Central Co-operative Bank and Kolar District Central Co-operative Bank on the track of recovery, he said.

Mr Kumar, who is also the Chairman of the South Canara District Central Co-operative (SCDCC) Bank, said that SCDCC Bank has set a target of disbursing Rs 360 crore loans during the current financial year.

The bank has been extending loans to agriculture and animal husbandry sectors at an interest rate of 6 per cent.

The bank registered 100 per cent recovery in agriculture loans at the end of June this year, he said.

Nabard award

Considering the performance of SCDCC Bank in self-help group (SHG) formation, the National Bank for Agriculture and Rural Development (Nabard) has selected the bank for a State-level award for 2004-05. The award will be given away to the bank in Bangalore on July 12, he said.

To promote the SHG concept in the State, the bank has sponsored Navodaya Gram Vikas Charitable Trust.

The trust has formed 444 SHGs in Uttara Kannada district and 200 in Chitradurga district. In August, the trust will form SHGs in Naragund taluk of Dharwad district, Navalgund of Gadag district and Haveri taluk of Haveri district, he added.

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