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SDCC Bank rated ‘A’ by NABARD

Special Correspondent

SHIMOGA: The Shimoga District Cooperative Central Bank (SDCCB) has been rated as an ‘A’-class bank in the Audit Classification by the National Bank for Agriculture and Rural Development (NABARD), bank president R.M. Gowda said here on Wednesday.

Mr. Gowda told presspersons that the bank had disbursed Rs. 96 crore to 40,000 farmers at an interest rate of 3 per cent.

He said that the bank had set a target of disbursing Rs. 150 crore to 75,000 farmers under this scheme by the end of March 2010. He said that the bank proposed to open branches at Anandapuram, Vidyanagar, Ulivi, Togarsi, Hitla, Talaguppa and Tirthahalli town.

He hinted that the bank would open its branches in the neighbouring districts, where cooperative banking was weak.

Mr. Gowda said that the bank had set up 4,956 self-help groups in association with agricultural service cooperative banks, and taken below-the-poverty-line people as members.

He said that 3,633 self-help groups had been extended Rs. 42.74 crore.

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