Andhra Pradesh Chief Ministe🃏r Y S Jagan Moไhan Reddy on Friday said the growth journey of the cooperative banking system in the state started four years ago.
This was propelled by the imple💫mentation of the recommendations of NABARD consultancy services (NABCONS), he said at the diam🔯ond jubilee celebrations of AP Cooperative Bank (APCOB) here.
APCOB, which witnessed several ups and downs in its 60-year history is today guiding farmers to☂ con♔tribute to their economic prosperity and strengthening rural economy, said Reddy addressing the bank’s officials and others.
According to the CM, the state government had amended rules to strengthen the cooperative banking sector’s governance and appointe🎀d professionals to run APCOB and District Cooperative Central Banks (DCCBs) following NABCONS recommendatio♉ns.
Further, he noted that Rs 295 crore has been inꦡjected as share capital into the DCCB⛄s.
Besides unveiling APCOB’s new logo and brand identity guidelines (BꩲIG), Reddy also received a dividend cheque of Rs 56 crore.
Expressing happiness over receiving the cheque, the CM said for the first time APCOB has given dividend to the government.
He further observed that all the DCCBs ღare running in profit except Eluru.
