Chittoor DCCB launches mobile banking
Internet banking coming soon:
Th e Chi t t o o r Di s t r i c t Cent r a l Cooperative Bank has completed 100 years of growth and is now celebrating its centenary jubilee during February 2019. The bank operates in the entire Chittoor district of Andhra Pradesh with 34 branches. As many as 76 PACS and several other cooperative institutions are affiliated to the bank. All the branches are under CBS in association with AP State Cooperative Bank.
The bank is now planning to add 6 branches in 2018-19, and according to Amasa Raja Sekhara Reddy, president, the bank had introduced ATMs in July 2016 first at its head office and subsequently there are 47 ATMs now - at all the branches and some off-site locations. “This is specially to serve the rural farmer clientele,” adds Reddy.
The bank has a staff strength of 205. During the current financial year, it recruited 24 assistant managers and 70 staff assistants.
The bank essentially provides loans to the farming community in the district – those growing sugarcane, groundnut and paddy crops. It also offers development credit. Funding is also extended to weavers through handloom and silk weavers credit societies, and to others through employees’ societies, sugar factories, dairies, etc.
Says Reddy: “Our total deposits are `4.3 billion, outstanding credit is `6.65 billion and total cumulative borrowing `2.61 billion. During 2018-19, we collected around `200 million of deposits from new depositors and disbursed `1.12 billion of new loans.”
The bank has a total customer base of 207,000 across the entire district. Apart from rural development, the bank provides assistance to SHGs, SGSYs, RMGs, JLGs and also weavers groups and under government sponsored schemes. It provides safe deposit lockers, cash credits, insurance facilities etc.
Reddy feels recovery of outstanding from the farming community is a tough task, especially in the prevailing drought conditions. Debt waivers/debt redemptions were showing negative effect on recovery ethics. “Our NPA was 7.94% in 2016-17 and has gradually reduced to 4.73% as on 31 December 2018. This has been possible because of the efforts of the employees and through a proper recovery action plan initiated by the board of management,” he adds.
CBS WITH AP SCB
Having implemented CBS, the bank has been to provide various services including NEFT/RTGS to the customers. It has also facilitated a trouble-free, error-free processing and provides access to the right person at the right time, of the required data and for continuous availability and uninterrupted service to its users.
Says Reddy: “Our CBS project was carried out is in association with AP State Cooperative Bank and service provider, Intellect Design Arena (earlier Polaris). We could connect all our then existing 26 branches. We subsequently opened 8 new branches with CBS facility. We have permission to open another 6 branches by 31 March 2019. The branches cover all 66 mandals of Chittoor district geographically.”
The AP State Cooperative Bank has taken the initiative to bring all the DCCBs in the state under CBS in order to ensure an environment of live process running 24x7x365 and for providing un-interrupted services to the clientele, through the conventional and non-conventional channels.
“The investment in this field is likely to go up and this needs to be consciously spent, based on the real areas of concern. Protecting information and systems from unauthorized access, use, disclosure, d i s r u p t i o n , modifi c a t i o n , p e r u s a l , inspection, recording or destruction is very important. With the changing practices of providing more and more alternate channels like ATMs, PoS machines, micro ATMs, mobile banking application, eCom transactions, security is to be given the utmost importance,” says Reddy
The bank has opted for HP servers, which are maintained at the AP State Cooperative Bank level. The bank uses leased lines from BSNL, routers from Cisco and modems from Cygnus.
ANALYZING TRAINING NEEDS
The bank uses the facility provided at the Hyderabad Cooperative Training Institute. “Based on the feedback received from the branch heads about the working capacity and ability of the staff members, their strengths are analyzed at the head office. Then the requirements of training to the concerned employees are decided and they are provided the training accordingly., says Reddy.
MARCHING TOWARDS TARGETS
Reddy says: “We now have set a deposit target of `5.05 billion, while our loans and advances target is `7 billion during 201819.” Recently the bank has introduced SMS alerts to all its customers. Soon, it intends to introduce internet banking facilities as well.
Amasa Raja Sekhara Reddy claims the NPAs of the bank have gradually reduced to the current level of 4.73% from 7.94% in 2016-17