Odisha State Cooperative Bank to disburse Rs6,000 crore of crop loans during 2013-14
Bhubaneswar: The Odisha State Cooperative Bank (OSCB) is all set to disburse Rs6,000 crore of crop loans during 2013-14 as against Rs5,000 crore during the outgoing fiscal.
Commissioner-cum-secretary, cooperation and management-in-charge of OSCB Bishnupada Sethi presented the plan of action for the year 2013-14 at the bank’s Annual General Body Meeting (AGM) held here on March 27.
Sethi informed the shareholders that the OSCB, which commenced its business during 1949-50 with a share capital of Rs3.53 lakh, has grown to a Rs10,000-crore bank achieving many landmarks in its history.
The OSCB has been leading the short-term cooperative credit structure from the front, retaining a market share of 65 per cent in dispensation of crop loans in the state when the share of cooperatives in the country has sharply declined to the level of a mere 14 per cent.
Sethi further stated that the OSCB along with the affiliated Central Cooperative Banks would acquire Core Banking Solution by September 30, 2013 and link its ATMs with around 60,000 such units across the country through the National Payment Network System.
All the Primary Agricultural Cooperative Societies (PACSs) would be computerised to provide hassle-free credit to farmers’ families through Kisan Credit Cards, which would be converted as Smart Cards in a phased manner.
The bank would also organise 50,000 credit-linked Joint Liability Groups to provide profitable avocation to the small and marginal farmers. Agricultural term loans to the tune of Rs600 crore would also be available to the farmer-members of the PACSs.
Sethi also informed that paddy procurement would be fully computerised from 2013-14, thereby providing instant payment by credit of bank accounts of the farmer-members.
Among others, seven district collectors as management-in-charge of the Central Cooperative Banks attended the AGM, which also discussed the audit report and the annual administrative report of the bank for the year 2011-12 and approved the
budget for 2013-14.Members expressed concern over non-recruitment in the Central Cooperative Banks and the resultant dislocation in customer services.
Sethi assured that necessary steps would be taken to fill up all the vacant posts within three months.
OSCB Managing Director Tusharkanti Panda presented the audit report and annual administrative report.