JDCC bank to offer crop loan through its own capital:
Jalgaon district’s apex co-operative bank, JDCC Bank in its board meeting yesterday announced its plan of offering crop loans through its own capital rather being dependent and taking external agency credits. Bank has received hefty rise of 185 Crores in deposits this year and its net profit has risen by 45 Crores. Bank has touched 2,137.62 Crores deposits and its share capital at 101.46 Crores as of financial year 2010-11 end. It’s NPA has reduced from 48% to 21% and this may go down further with actual cash arrival after completion of Vasant Sugar factory sales transaction. RBI has earlier on 11/1/2011 issued notice of action on bank followed risen NPA, but this reduction would significantly ease its pressure and likely action thereof.
Jalgaon district’s apex co-operative bank, JDCC Bank in its board meeting yesterday announced its plan of offering crop loans through its own capital rather being dependent and taking external agency credits. Bank has received hefty rise of 185 Crores in deposits this year and its net profit has risen by 45 Crores. Bank has touched 2,137.62 Crores deposits and its share capital at 101.46 Crores as of financial year 2010-11 end. It’s NPA has reduced from 48% to 21% and this may go down further with actual cash arrival after completion of Vasant Sugar factory sales transaction. RBI has earlier on 11/1/2011 issued notice of action on bank followed risen NPA, but this reduction would significantly ease its pressure and likely action thereof.
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