Kerala - Alappuzha   

Cooperative bank’s success, a model for others

ALAPPUZHA: The successful implementation of the Integrated Cooperative Development Project (ICDP) by the Alappuzha District Cooperative Bank (ADCB) is turning out to be a model for implementation agencies of other States.

The ICDP is an initiative of the National Cooperative Development Corporation (NCDC).

The NCDC and other Central agencies have complimented the cooperative bank for 100 per cent utilisation of the Rs.13.15-crore fund under the project.

The money was used for various purposes including setting up of processing units in the cooperative sector such as a neem cake factory, a tender coconut processing unit, rubberised coir mats, coir pith manure unit and a coconut wood furniture unit.

As part of the project, an agricultural tourism/agricultural transportation scheme was implemented for the first time in the country.

The money was also utilised to launch houseboats; the second one is nearing completion under the aegis of Thanneermukkom Service Cooperative Bank (SCB).

Almost 95 per cent of the loans extended under this project have been repaid. Now study groups from ICDP implementation agencies in other States are heading towards Alappuzha to see how they can replicate the model in their respective regions.

One of the first such groups to arrive here was an ICDP team from Medak district in Andhra Pradesh; another one from Maldah district of West Bengal followed.

“Many more teams are on their way with similar aims,” said ADCB president C.B. Chandrababu told reporters here on Tuesday. ADCB general manager S. Sreekumar and ICDP Alappuzha general manager M.P. Gopalakrishna Pillai were also present.

The cooperative bank has already requested funds from NCDC for the second phase of the project, that too with an increased outlay. Meanwhile, the bank has achieved complete computerisation of its 54 branches using ICDP funds.

The cooperative bank is now planning to implement core banking solution and set up ATMs across the district.

If everything goes as per schedule, said Mr. Sreekumar, ADCB could become the first bank particularly from the cooperative sector in the State to introduce biometric ATMs that would use digital thumb impressions and do away with ATM cards.

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