Karnataka - Hubli-Dharwad   

Cooperative bank plans to expand its activities

Staff Correspondent

HUBLI: The Karnataka Rajya Kaigarika Sahakara Bank Niyamita plans to expand its activities by creating awareness on the services it offers to artisans, small-scale industrialists and technicians.

Addressing presspersons here on Tuesday, bank chairman H. Shivappa said that because of adherence to rules and regulations, the bank was doing well and had registered a profit of Rs. 35 lakh during 2006-07.

Loan amount

The bank, which has 38 branches in the State, had disbursed loans to the tune of Rs. 95 crore during 2006-07 and had mobilised deposits of Rs. 170 crore, he said.

The percentage of Non Performing Assets (NPA) had been brought down to 13.5 per cent from 20.98 per cent. Steps were being taken to further reduce it to 10 per cent, Mr. Shivappa said.

To a query, he said that through a one-time settlement package approved by the Government, the bank had brought down the NPA level.

The "Suvarna Cash Certificate" deposit scheme, in which the amount would get doubled in 82 months had evoked good response, he said.

Managing Director of the bank C.D. Viresh said that the bank had set a target of loan disbursement to the tune of Rs. 120 crore and deposit mobilisation of Rs. 206 crore for the current financial year, Mr. Shivappa said.

The performance of the bank's Belgaum region was not up to the mark and remedial measures were being taken up, he added.

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