SCDCC Bank recorded net profit Rs 21.84 crore in financial year 2016-17

8:41 PM, Tuesday, May 30th, 2017

SCDCC BankMangaluru :  SCDCC Bank Chairman M N Rajendra Kumar announced, profit and loss accounts of financial year 2016-17  on Monday.

The bank gained profit of Rs 21.84 crore with a total turnout of Rs 5,883.66 crore, Rs 3,201.64 crore deposits and Rs 2,382.05 crore advances.

Addressing reporters  Rajendra Kumar said despite demonetisation, the bank has managed to reach the targets. The target for the financial year 2017-18 is Rs 6,900 crore. With highest deposits, the bank is in the first place among the co-operative banks in the state, he said.

The loan provided towards agriculture by the bank is Rs 841.44 crore and a mid-term loan of Rs 83.19 crore. There is a 100% repayment of loans. Kumar said 72,837 agriculturists, with Mangala Kisan Credit Card account in the primary agricultural credit co-operative societies, have been provided with Rupay Kisan cards. The other 37,616 customers have been given Kisan debit cards.

In the district, 1,04,467 farmers have been given Mangala Kisan credit card loan while 76,705 have been provided with personnel accident insurance. A total of 22,981 Chip Rupay Kisan Credit Cards have been distributed, Kumar explained.

He said the bank has planned to open 100 ATMs. Tab and mobile banking will be introduced to enable the customers to manage their bank accounts at homes. A plan is on the anvil to install common software in all branches of the bank for maintaining uniformity in accounting.

There is also a plan to supply clean drinking water in Dakshina Kannada and Udupi districts. The plan will be materialised with the help of agricultural co-operative societies. Also, the agricultural cooperative societies will be encouraged to install solar panels.

Inter Bank Mobile Payment System will also be implemented with the support of the NPCI (National Payment Corporation of India), which facilitates transfer of funds using mobile number and Mobile Money Identification Number (MMID), he added.

Bank vice president Kishan Hegde Kolkebail and director Vinay Kumar Soorinje were present

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