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Money & Banking - Co-operatives


Award for South Canara District Central Co-op bank

Our Bureau

MANGALORE: The Karnataka State Cooperative Apex Bank has selected the South Canara District Central Cooperative (SCDCC) Bank Ltd for its `Best District Central Cooperative Bank Award' for 2002-03.

A press released by the Managing Director of SCDCC Bank, Mr M. Gopalakrishna Bhat, said here that the bank is being selected for this honour for the sixth year in succession.

The bank, which earned a profit of Rs 4 crore during 2003-04, has a unique national record in loan recovery, effecting 100 per cent recovery for the past nine years.

The release said that Nabard has conferred it with the State-level award for effective managements of self-help groups (SHGs). It has effectively used SHGs as means of empowering people, the release added.

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