Agriculture Minister of Andhra Pradesh, Kakani Govardhan Reddy stated that the government plans to establish 81 primary agriculture cooperative organizations in the area, hold a mega mela in May, and provide 3,500 tractors to farmers.
On Monday, he formally launched the Core Banking System of the District Cooperative Central Bank, saying that cooperative banks were established for the benefit of farmers and that Chief Minister Jagan Mohan Reddy has been supportive of the cooperative sector.
These banks were losing money between 2014 and 2019, according to the Minister, but their share capital has increased from Rs 79 crore to Rs 148 crore, and their deposits have climbed from Rs 260 crore to Rs 396 crore.
He claims that computerization in banks aids cooperative banks in improving their transactions and accuracy. K Satyanarayana Reddy, the bank's chairman, gave an update on the bank's operations. He said that computerization will help cooperative banks enhance transactions and compete with commercial and government-owned banks.
DCCB Chairman K. Satyanarayana Reddy gave a quick overview of the bank's operations. MLC Vakati Narayana Reddy, Nabard DGM Ravi Singh, DCO Tirupal Reddy, Cooperative Bank CEO Sankar Babu, and others were among those in attendance.
Farm mechanization is an important aspect of agriculture that is now being taken up by the government as important as it is for farmers. The central government, as well as state governments, are now giving special emphasis to providing tractors to farmers in order to ease their work and increase productivity.
