Collector demands increase in deposits to strengthen cooperative banks

District Collector Sumit Kumar distributing dividend checks to cooperative societies as part of Cooperative Week celebrations at DCCB Bank in Chittoor on Monday. | Photo credit: HANDOUT

District Collector Sumit Kumar on Monday called for sustained efforts to increase deposits in cooperative banks, saying stronger internal resources would reduce dependence on external financial agencies and enable timely credit support to farmers.

As part of the District Cooperative Central Bank (DCCB) Cooperative Week celebrations here, the Collector launched mobile ATMs, hoisted the cooperative flag, planted saplings and reviewed the performance of the cooperative banking sector with DCCB Chairman Amasa Rajasekhar Reddy, officials and representatives of cooperative societies.

Mr. Sumit Kumar said that while the DCCB accounts for only 3.20% of the district’s total bank deposits, it contributes 5.25% of the total disbursed loans, forcing it to depend on agencies like the State Cooperative Bank and NABARD for lending resources. “The increase in deposits will strengthen the bank’s financial autonomy and improve credit delivery,” the Collector said.

The Collector emphasized the importance of transparency, financial discipline, effective loan recovery and control of non-performing assets to enhance public confidence in the cooperative banking sector. “Nearly three million families in Chittoor depend on cooperative credit for their livelihood, so a robust cooperative system is essential for rural development,” said Sumit Kumar.

Later, the Collector along with the DCCB Chairman distributed dividend checks worth ₹ 3.51 crore to 71 cooperative societies and gave a ‘Sahkar Se Samriddhi’ pledge to the shareholders during the programme.

Published – 29 Jun 2026 18:21 IST