National Award For OSCB Bhubaneswar : 27/June/2013 Odisha State Cooperative Bank (OSCB) has been once again recognized in the national level for its excellent performance. Lauding its effort to provide services to the rural and agriculture sector, the National Federation of State Cooperative Banks Limited (NFSCB) has honoured OSCB as the Best Performer in the country. Bishnupada Sethi, Chief of Management of the OSCB received the honour from Shivraj Patil in the Indian Cooperative Congress meet held here on 26 June. Mr.Sethi, Commissioner-cum-Secretary is holding the charge of the OSCB, which is covering 55.22 lakh agricultural families of the state and has been able to disburse Rs.5426 crore loans to these needy people. While commercial banks are failing in their targets to provide crop loans to the farmers, OSCB is covering 95 per cent of the farmers in the state and supporting their economic activities. Take for example, while Credit-Deposit (CD) ratio of the commercial banks is 86 per cent, OSCB is maintaining this ratio at 110.46 per cent level in general and CD ratio in rural sector is 161 per cent, said sources in OSCB. However in deposit mobilization, Commercial banks are taking away the lion share of the cake. During 2012-13, Commercial banks mobilized Rs.1, 40, 877 crore of deposit, while OSCB got Rs.5587.77 crore from the total deposit of Rs.1, 46, 465 crore. Unperturbed by such a glaring deficit, OSCB has been extending all out support to the farmer folks and has been able to enrol 52.40 lakh farmers into its fold through 2714 Primary Agricultural Cooperative Society (PACS). OSCB has been able to provide 41, 57, 711 Kisan Credit Cards (KCC), which has been helping the farmers in receiving credit support from the banks. Formation of 77, 344 Self Help Groups (SHG)s and extending credit link to these initiatives to an extent of Rs.265.44 crore has helped the women and rural poor in a big way, said an official. With the revitalization of the short term credit cooperative sector by accepting the Vaidyanathan Committee recommendations by the Odisha Government, things are looking up, said he.
Posted on: Thu, 27 Jun 2013 07:09:15 +0000
Trending Topics
Recently Viewed Topics
© 2015