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Kudos from Sikkim

KOCHI: The Ernakulam District Cooperative Bank came in for high praise from a team of young professionals of the Sikkim State Cooperative Bank, who was here recently to study its functioning. “It is an indication of what the cooperative movement can achieve,” said Pema Chenzom, assistant general manager of Sikkim Cooperative Bank. “We will try to emulate what it has done,” she added.

The Ernakulam District Cooperative Bank, with a business volume of around Rs. 2,500 crore, has been growing rapidly. Kishore Sharma, deputy manager with the Sikkim Bank, said it was the techno-savvy approach of the Ernakulam DCB that caught their attention.

As the first cooperative bank in the State to adopt core banking solution, the DCB has come closer to the people.

T.R. Dorjee, deputy manager, said the cooperative movement was slowly taking root in Sikkim. The Sikkim State Cooperative Bank is less than 10 years old and the volume of business does not compare with what they have seen here.

But the experience in Sikkim has been good. The people are responsive.

The Sikkim State Cooperative Bank has been in profit since its inception.

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