Andhra: Loans worth ₹21.31 crore distributed to farmers and women.
Mylavaram: The Krishna District Cooperative Central Bank (KDCCB), under the leadership of Chairman Nettem Raghuram, distributed loans worth Rs 21.31 crore to farmers and DWCRA women in Mylavaram on Thursday. The loan distribution programme was held at Sri Venkateswara Swamy Kalyana Mandapam, with Mylavaram MLA Vasantha Venkata Krishna Prasad attending as the chief guest. Earlier, Nettem Raghuram and the MLA jointly inaugurated the new KDCCB branch at Vellaturu village.
Addressing the gathering, Raghuram said that farmers’ welfare, agricultural development and women’s economic empowerment remain the bank’s key priorities. He said timely crop loans are strengthening the agriculture sector, while financial support to women is improving rural livelihoods and family incomes.
He said loans were distributed through the Mylavaram, G Konduru, Ibrahimpatnam, Kotturu Tadepalli and Bhavanipuram branches. Of the total amount, Mylavaram branch received Rs 11.93 crore, G Konduru Rs 4.51 crore, Ibrahimpatnam Rs 3.50 crore, Kotturu Tadepalli Rs 62 lakh and Bhavanipuram Rs 75 lakh.
Highlighting the bank’s performance, Raghuram said the five branches in the Mylavaram constituency recorded deposits of Rs 319.59 crore and advances of Rs 723.25 crore as of May 31. He added that 27 out of 28 cooperative societies in the constituency are operating profitably. Meanwhile, he said that at the district level, KDCCB recorded deposits of Rs 3,981.13 crore and advances of Rs 8,615.78 crore, taking its total business volume to Rs 12,596.92 crore as of May 31.
MLA Vasantha Venkata Krishna Prasad said the coalition government led by Chief Minister N Chandrababu Naidu is giving top priority to farmers’ welfare. He said timely crop loans ahead of the kharif season would boost agricultural production and improve farmers’ incomes. KDCCB CEO Shyam Manohar, General Manager Rangababu, AGM Vasavi Kumari, Jana Sena leader Akkala Ram Mohan Rao (Gandhi) and others were present.
