New Delhi, Aug 11 : Union Minister for Information and Broadcasting, Anurag Thakur on Thursday, congratulated the Kangra Central Cooperative Bank (KCCB) for its remarkable turnaround. The bank that suffered losses of approximately R 46 crore, has raked in an income of around Rs 87 crore in the fiscal year 2021-22.
The Minister expressed his joy that this could be the biggest profit ever that the bank has ever made.
Thakur repeated the idea of the Prime Minister Narendra Modi that the government is unwavering in the efforts it is making to combine the spirit of cooperation with the spirit of “Azadi Ka Amritkaal’.
“The Premier has firmly declared that his government will work to help cooperatives are competitive in the market and achieve an equal playing field.the reduction in the tax burden on cooperatives is an important step towards the aim,” Thakur said.
He said that the extraordinary accomplishment of the bank is going to help further the idea of “Sahkarita se Samriddhi” (prosperity through cooperation).
Ministers acknowledged the expansion of the bank in the past four years and stated that the bank has witnessed a significant growth in enrollment of customers in different social security plans.
The KCCB was issued a certificate of registration in 1920 and began operations in March of the same year.The bank has a total of 26 branches with its headquarters at Dharamsala.
In the last four years the bank has experienced an enormous increase in different indicators.The investments of the bank have increased by 2,324 crore and reserve funds have increased by 26 crore.The bank’s net profit has risen to the amount of 87.53 crore in the year that ended March 31, 2018, compared to 4.55 crore as of March 31, 2018.4.55 crore as of March 31 the 31st of March, 2018.
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