Chief Secretary reviews the performance of cooperative credit institutions

Hyderabad: Chief Secretary Somesh Kumar presided over a meeting of the High-Level Committee to monitor the health of Cooperative Credit Institutions at BRKR Bhavan today.  The functioning of the state cooperative bank and the district cooperative banks were reviewed during the meeting.

The Chief Secretary said that as the state is achieving rapid progress in all sectors, there is a huge potential for the rural cooperative institutions to increase their volume of business.  He asked the bankers to focus on innovative things in improving the financial health of the cooperative banks. 

The total business of TSCAB was 22.8% more this year compared to last year.  The total business done this year was Rs 16,276.71 crores compared to last year’s business of Rs 13,245 Crores.  There has been a 25.41% growth in the share capital of TSCAB in the year 2021-22.  Reserves have increased from Rs 556.53 Crores in 2020-21 to Rs 615 Crores in 2021-22 which is a growth of 10 .64%.  Deposits have increased from Rs 5466.41 crores in 2020-21 to Rs 6941.95 crores which is a growth of 26.99%. Borrowings increased by 15.67% to Rs 6261.80 Crores while investments increased by 40.27% to Rs 2058.52 Crores.

The operating profit of the TSCAB stood at Rs 100.89 Crores as of 31-03-22 which is an increase of 69.90% compared to last year’s profit of Rs 59.38 Crores.  Similarly, there has been a 66.82% increase in the net profit which stood at Rs 77.29 Crores. Telangana also stood at the forefront in the computerization of Primary Agriculture Cooperative Societies in the country. Secretary Agriculture M.Raghunandan Rao, Secretary Finance T.K.Sridevi, CC & RCS M.Veerabrahmaiah, TSCAB Chairman Konduru Ravinder Rao, TSCAB MD Nethi Muralidhar, RBI Regional Director K.Nikhila, NABARD CGM Suseela Chintala, NABARD GM Y.Haragopal and other officials attended the meeting. (INN)

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