Stress was laid on reducing loss, making profit and taking care of interest of poor farmers in the 56th annual general body meeting of the Balangir District Central Co-operative Bank (BDCCB) here.
The BDCCB was established in 1934 and operates in both Balangir and Subarnapur districts.
Attended by Board of Directors, Primary Agriculture Society members,the meeting on March 16 passed the audit report of 2016, besides deliberating on various development steps by the bank in 2017-18 and approving the budget for 2018-19.
Addressing the members of Board of Directors and other dignitaries, BDCCB president laxman Meher thanked the people for the trust and confidence on the bank.
“The total amount of accumulated loss has come down to Rs 39 core from Rs 52crore, thanks to a series of measures and a development action plan prepared to reduce the NPA.
“We hope to bring down the accumulated loss to Rs 20 crore next year,” informed Meher.
Meanwhile, the NPA of the bank has been reduced to 10.7 per cent from 16 per cent and special teams have been formed to collect outstanding loans from loanees and measures like one time settlement of dues have been introduced, informed Meher.
To provide banking service at rural areas and to open Micro ATM at Primary Agricultural Cooperative Society (PACS), a proposal has been submitted to the NABARD, he said.