SCDCC Bank posts Rs 23.75 crore profit in Q2

SCDCC Bank posts Rs 23.75 crore profit in Q2

Mangaluru: The president of SCDCC, Bank Dr Rajendra Kumar held a press meet at the bank premises here, on June 13. Addressing the mediapersons, Dr Rajendra Kumar said that SDCC posted a profit of Rs 23.75 crore in the second quarter as against Rs 19.81 crore during the same quarter of the last fiscal.

He further said that at a time when most of the banks were posting losses, the SCDCC Bank has made a profit due to its commitment to its largest stakeholders, the farmers. “Since 21 years, we have been providing loans to farmers in the region and they have also cleared their loans. The recovery rate of the loans is 100% and this has been a record from the past 21 years.”

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“In other districts, loan facilities are not upto the mark for farmers. They have to take loans from private lenders with high interest which leads to increased debts and as a result most of them are driven to commit suicide. It is a matter of pride for us that DK district gives priority to the welfare of the farmers,” he added.

SCDCC bank has distributed 55,400 RuPay cards to its customers. Customers who have an NFS network can withdraw money from ATMs using RuPay cards. In this regard, the bank has received Issuer Identification Number (IIN) from the National Payment Corporation of India. Farmers/customers can use these cards during shopping by swiping through Point of Sale system instead of paying cash.

In this financial year, the bank has achieved a turnover of Rs 5548.58 crore and in the current year, the bank has set a target of Rs 6300 crore. There is a huge competition in all banks to collect deposits but without any deposits from the state and central government, SCDCC has collected Rs 3099.11 crore in the year 2015-16 from its 101 branches. “This is the first co-operative bank in the state to collect highest deposits. It is 20.64% more compared to last year.”

He further said that SCDCC bank has won the Apex Bank award 17 times and the NABARD award 16 times. Among self-help groups, the SCDCC bank stood first in the state with 42535 groups. In the district, the Mangala Kissan Credit card has been distributed to 1,01,106 farmers, with 77,674 Kissan credit cards covering accident policy. All the branches of the bank have internet and core banking facilities. All the branches have BSNL, MPLS leased line internet connection for the fast intra-branch communication. “SCDCC is the first co-operative bank to introduce Mobile Banking. So far, we have distributed 9331 chip cards to the customers and this is the first district co-operative bank to distribute RuPay Kissan Chip card,” said Dr Prasad.

Directors Vinay Kumar Surinje, B Niranjan, T G Rajaram Bhat, M Vadiraj Shetty, K S Devraj, Kishan Hegde Kodialbail, Sadashiv Ullal, Rajesh Rao and S B Jayaram Rai, B K Saleem and M Vishwanath Nayar were also present.