SCDCC Bank nets Rs 12.77 cr profit

[email protected] (News Network)
May 13, 2012

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Mangalore, May 12: South Canara District Central Co-operative (SCDCC) Bank has achieved Rs 12.77 crores of profit in the year 2011-12, for the first time in its 99 years of history. With this, the Bank has surpassed the Belgaum District Cooperative Bank record and rose to number one position with highest profit.

Addressing a press conference on Saturday, SCDCC Bank President M N Rajendra Kumar said that the bank had a turnover of Rs 2,374. 66 crores as against its target of Rs 2,085 crores. “The achievement is special because the bank has distributed Rs 157 crores of loan in 2011-12 including 55 per cent of agriculture loan,” he said.

Loss in agri loan

“According to the government policy, the Bank has been giving agricultural loan at an interest of 3 per cent. But the Bank is getting the interest amount only after two years,” he said and added that in spite of the stiff competition, the Bank has achieved 100 per cent recovery of agriculture loan consecutively for 17th year.

Stating that the SCDCC Bank has collected Rs 1,317.48 crores of deposit from its 55 branches in the year 2011-12 to become the only district cooperative bank in the State to collect such a huge amount, he said the bank has given a sum of Rs 1563.63 crores as advance which is 22.99 per cent more than previous year.

Giving details about the new facilities, Kumar said that the Bank now has Real Time Gross Settlement facility (RTGS). “SCDCC bank is the only district cooperative bank to have this facility,” he said and added that the Bank is happy to inform that the Non Performing Assets (NPA) of the bank has been dipped to 2.47 per cent.

New schemes

Rajendra Kumar said that the bank has received good response from the customers on its new schemes. “Jewellery Purchasing Loan scheme has got good response from the customers. In the year 2011- 12, the bank had distributed Rs 4.70 lakh of loan under the scheme.

With regard to Yashasvini Health Insurance Project, he said that 15,80,040 members were included into the project. “An amount of Rs 2.25 crores has been credited to Yashaswini account while a sum of Rs 2.38 crore has been spent for the treatment in the year,” he said.

Pension for workers

On new technologies he said the Bank is the only district-level cooperative bank to have mobile banking facility. “The Bank is introducing core banking facility which would centralise the transactions of all branches in the district.” He also added that the SCDCC bank is the only district co-operative bank to introduce pension plan to bank workers.

SCDCC Bank Vice President Vinay Kumar Soorinje, Directors M Vadiraj Shetty, K S Devaraj, B Raghuram Shetty, Sadashiva Ullal, Raju Poojari, Managing Director M Gopalakrishna Bhat and Cooperative Organisations' Deputy Manager P R Palangappa were present.

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News Network
September 24,2024

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Mangaluru, Sept 24: A blanket of gloom descended over Dakshina Kannada and Udupi as heavy rains battered the coastal Karnataka districts on Tuesday. Substantial rainfall has been drenching the region since Monday, intensifying as the day progressed.

In Dakshina Kannada, torrential downpours began early Tuesday, followed by overcast skies and humid conditions. 

The showers persisted intermittently through the afternoon, with areas like Beltangady experiencing moderate rainfall, while Puttur and Bellare bore the brunt of heavier storms. 

Overnight showers were reported in Bantwal, and Mangaluru city, along with its surrounding rural areas, witnessed a steady increase in rainfall, peaking by the evening.

After a brief respite, the return of intense rainfall has brought a welcome drop in temperatures. In Udupi, Karkala, Udupi city, Kundapur, and Hebri taluks all faced substantial rains throughout the day, continuing from late Sunday night.

The Indian Meteorological Department (IMD) has issued a red alert for the coastal districts, predicting more heavy rainfall in the coming hours. 

A yellow alert has been placed for Wednesday, signaling the likelihood of additional downpours. Fishermen have been cautioned to remain vigilant, as the possibility of strong winds looms over the coastal waters.

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News Network
September 20,2024

Starting in the 2025-26 academic year, private universities in Karnataka offering professional courses will no longer conduct separate entrance exams. This decision follows a directive from the state’s Higher Education Department, prompting private universities to form an association and agree to this significant change.

In a recent meeting with Higher Education Minister Dr. M. C. Sudhakar, representatives from 17 private universities confirmed their decision to discontinue individual entrance tests. Of the 27 private universities in the state, 17 offer professional courses, and they have collectively agreed to accept scores from existing national or state-level entrance exams.

“Some universities will consider JEE scores, others will rely on KCET, and a few are inclined towards COMEDK,” Dr. Sudhakar stated, leaving the choice of examination to the universities themselves. However, the department has also suggested that the universities consider a unified entrance test for admissions.

Looking ahead, Dr. Sudhakar hinted that the government may introduce a common entrance test for general degree courses at private universities as well. "As government colleges and universities currently don’t require entrance exams for general degree courses, we haven’t made any decisions on this yet," he explained.

The meeting also addressed concerns over the high fees charged by private universities. To regulate this, the universities were instructed to establish fee fixation committees, headed by retired judges, as required by law. These committees will be responsible for determining tuition fees. Additionally, the government will continue to regulate fees for 40% of seats in professional courses that are filled through KCET.

In an effort to bring greater uniformity among private institutions, the government is considering enacting a common law for all private universities, which would replace the individual acts currently governing each university. This would place all private universities under a single regulatory framework.

This move is expected to streamline the admissions process and create a more standardized system for both professional and general degree programs across Karnataka's private universities.

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News Network
September 19,2024

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Mangaluru, Sep 19: Following the recent Nipah virus-related fatalities in Kerala, health authorities in Dakshina Kannada are taking proactive measures to monitor for potential cases of monkey fever. While typically found in African countries, monkey fever has raised concerns within the district, prompting increased vigilance.

To ensure early detection, travelers arriving at Mangaluru’s international airport and local ports will undergo health screenings. Additionally, a dedicated ambulance has been placed on standby for any emergent cases, and Wenlock Hospital has set aside a special ward with six reserved beds specifically for monkey fever patients.

"We currently have no confirmed cases of monkey fever in Dakshina Kannada, and there are no direct orders from the state government," said Dr. Timmaiah, the District Health Officer. "However, we are taking preventive measures, including continuous screening of incoming passengers. A special meeting is also being planned to discuss future action steps."

Dr. Timmaiah further highlighted the rise in general viral infections following the region's recent shift in weather patterns. "With the decline in rainfall, we are seeing an uptick in viral cases, particularly fevers accompanied by cough, cold, and throat pain, especially in children. Though Mangaluru has experienced mostly sunny weather, occasional rain at night has contributed to the spread of illnesses. It’s crucial for the public to remain vigilant and take preventive measures."

Health officials are urging residents to seek timely medical advice and follow recommended precautions to mitigate the spread of infectious diseases.

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