Kancheepuram Co-op Bank: Empowering Communities for Inclusive Growth
What sets the Kancheepuram Central Co-operative Bank apart is its steadfast dedication to uplifting the most vulnerable segments of society. Through its robust support for Self-Help Groups (SHGs), the bank has ignited a grassroots movement of economic empowerment, enabling individuals to pool resources, pursue entrepreneurial endeavors, and achieve financial independence
Team RuralVoice
The Kancheepuram Central Co-operative Bank, established under the Co-operative Societies Act on May 23, 1915, with humble beginnings of 49 members and a share capital of Rs. 5,000.00, today stands as a beacon of empowerment and inclusive growth, enriching the lives of individuals and communities across its expansive domain of Kancheepuram, Tiruvallure, and Chengalpattu districts in Tamil Nadu.
With 52 branches and a vast network comprising 264 Primary Agricultural Co-operative Credit Societies (PACS), 177 Silk & Cotton Weavers Co-operative Societies, and 144 Employees Co-operative Credit Societies across the three districts, the bank has been a cornerstone of support for various sectors by catering to the needs of agriculturalists, fishermen, weavers, employees, and the general public.
Now with Administrator R Vanitha at the helm, the Bank is poised to chart a course for success, marked by innovation, inclusivity, and sustainable growth. With a wealth of experience and a visionary outlook, Vanitha, former Chief Director at the National Cooperative Development Corporation (NCDC), an autonomous financial central institution for cooperatives in the country, and Additional Registrar of Cooperative Societies, brings fresh perspectives and strategic insights to drive the institution forward.
Vanitha’s who also has ably handled international cooperatives, proactive approach and collaborative leadership style are set to inspire and empower the bank's team to unleash their full potential and achieve collective success.
By harnessing the collective strengths of her team and embracing emerging opportunities, Vanitha, says that she will ensure that the institution emerges as a hope of excellence in the cooperative banking sector, driving positive change and prosperity for the communities it serves.
Today it can proudly boast of a robust business turnover of Rs. 6,326.54 crores, 860 members, and 365,859 customers, recording a net profit of Rs. 29.34 crores for the financial year 2022-23. Additionally, it issued 23,644 specially designed ATM cards to Kalaigner Magalir Urimai Thogai beneficiaries in Tamil Nadu.
What sets the Kancheepuram Central Co-operative Bank apart is its steadfast dedication to uplifting the most vulnerable segments of society. Through its robust support for Self-Help Groups (SHGs), the bank has ignited a grassroots movement of economic empowerment, enabling individuals to pool resources, pursue entrepreneurial endeavors, and achieve financial independence.
Additionally, its proactive implementation of schemes for the physically challenged underscores its commitment to inclusivity and social justice, providing vital financial assistance to enhance accessibility, mobility, and quality of life for individuals with disabilities.
Data speaks
Loans issued to 700 physically challenged persons have been to the tune of Rs 302.42 lakhs with the support of National Divyangjan Finance & Development Corporation while as many as 105 beneficiaries from minority community were doled out a total loan amount Rs 98.08 lakhs with the support of Tamil Nadu Minority Corporation. L
Again, 137 SC/ST persons were issued loans of Rs 441.55 lakhs with the support of Tamil Nadu Adhi Dravidar Housing & Development Corporation.
Furthermore, the bank's commitment to empowerment extends to supporting self-help groups (SHGs), with a total disbursal of Rs. 253.32 Crores. Empowered to petty traders to 3502 persons Rs.15.20 crores. These SHGs represent a grassroots movement towards economic self-sufficiency, enabling members to initiate various livelihood projects and micro-enterprises.
The bank has issued loans to farmers, fishermen, animal husbandry workers, weavers, employees, and more, totaling significant amounts across different sectors. For instance, benefiting 48,493 farmers with a total disbursement of Rs. 389.27 crores, the bank supports agricultural activities crucial for food security and rural livelihoods while under the fishery sector it has provided loans to the tune of Rs 51.22 crore to 4,315 fishermen.
The financial institution has been providing financial aid to 11,958 animal husbandry workers with Rs. 67.43 crores, facilitating livestock rearing and dairy farming activities. Further, under the category of weaver sector loans, it has worked towards empowering 14,649 weavers with Rs. 85.65 crores. This has taken care of supporting traditional crafts and artisanal livelihoods, preserving cultural heritage.
Under the category employees sector loans, the Bank is assisting 13,965 employees with Rs. 109.49 crores while financial support has been extended to 2 Co-operative Sugar Mills with Rs. 76.80 crores. This has helped contribute to the growth of the sugar industry and agro-processing sector.
The bank's remarkable performance was recognized with the Best District Central Co-operative Bank award in Tamil Nadu for the year 2022. Moreover, numerous projects have been sanctioned for the conversion of PACCS into Multi-Service Societies, facilitating infrastructure development and modern equipment acquisition to further bolster the communities it serves.
Embracing technological advancements, the bank transitioned to the CBS platform in 2014, thanks to the support of NABARD, the State Government of Tamil Nadu, and the Registrar of Co-operative Societies. Now, it is initiating computerization efforts in all PACCS & ECS, including the milestone achievement of computerizing Magaral PACCS for greater efficiency and accessibility in its operations.
Looking ahead, the bank's focus on modernization and expansion, evidenced by sanctioning 402 projects to the tune of Rs 43.28 crores for 168 PACCS conversion into Multi-Service Societies and infrastructure developments projects, reflects its unwavering commitment to serving the community and driving socio-economic progress in the region. These include construction of godowns, cold storages, purchase of oil crushing unit, neem oil cake unit, air conditioned mini lorry, harvesting machinery, solar power units, drone, JCB to name a few.
As the Kancheepuram Central Co-operative Bank continues its journey of service and empowerment, it remains steadfast in its commitment to advancing the interests of all its members, particularly those traditionally marginalized or underserved.
By championing the cause of SHGs and the physically challenged, the bank not only enriches individual lives but also strengthens the social fabric of the communities it serves, paving the way for a more inclusive and prosperous future for all, Vanitha promises.
