Karimnagar: The Chairman of Karimnagar DCC Bank, NAFSCOB and TSCAB, Konduru Ravinder Rao told the DCCBs in the State to expand their business portfolios in view of the changes taking place in the banking sector. He said the DCCBs have come under the purview of the Reserve Bank of India (RBI) as per the Banking Regulation Act, hence the diversification of business portfolios was required for their development.

The Karimnagar District Cooperative Central Bank (DCCB) will be opening five more branches in various parts of integrated Karimnagar district shortly in addition to the existing 67 branches. The opening of new branches is in accordance with the bank’s decision to its business target and be closer to its customers, especially the farming community.

Ravinder Rao took part in a day-long workshop as chief guest on 'Strategy meet on business development of the DCCBs and PACS' held at the TSCAB office in Hyderabad on Thursday, a statement from Karimnagar DCCB here informed. He said that the Karimnagar DCCB, which was once in losses and was not unable to return the deposits to the customers, was now earning profits with a business of over Rs 4,000 crore.

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