Deposits are rising by nearly ₹20 crore daily, says Anna Saheb Jolle.
The Belagavi District Central Cooperative (BDCC) Bank will gradually transition into a multipurpose cooperative institution offering a wider range of financial services and products based on inclusive cooperation principles, said chairman Anna Saheb Jolle in Belagavi on February 18.
He noted that earlier, cooperative societies operated under rigid laws that restricted them to the activities for which they were registered. However, after Amit Shah assumed office as Union Cooperation Minister, several policies were liberalised, allowing greater flexibility.
According to Mr. Jolle, credit cooperative societies and cooperative banks can now function as multipurpose entities in selected fields. “We will diversify our operations in phases over the next few years. BDCC Bank will then be able to provide a broader bouquet of financial services and other products,” he said.
The chairman announced that three new schemes would soon be introduced to benefit customers and strengthen the bank, describing them as unique in the State. At present, the bank provides crop loans at zero percent interest, 1% interest loans to self-help groups, and 3% interest loans for pipelines and tractors. These activities are largely limited to cultivation and harvest seasons, resulting in limited work during other periods.
Out of 1,200 societies, only a few categorised as A and B extend additional services such as ration distribution and sale of farm inputs. To ensure year-round activity across all 100 branches and societies, they will now be permitted to offer the same loans as the bank’s branches. These include non-agricultural loans such as two-wheeler, car, and home loans, with societies earning between 0.5% and 1% interest.
Mr. Jolle said this move would strengthen societies and reduce administrative costs for the bank. Subsidised personal loans will also be extended to staff with about 1% interest concession. A comprehensive insurance scheme covering accident, health, and life insurance will be launched for 2,800 employees and society staff. He added that insurance and pension benefits for directors may be considered in line with new guidelines.
Clarifying an earlier remark about losses from crop loans, Mr. Jolle said his intention was only to state facts and assured that the bank remains committed to farmers’ welfare.
He stated that the bank’s financial position is strong, with fresh deposits increasing at around ₹20 crore per day and ₹3,700 crore disbursed as crop loans. Over the next five years, the bank aims to emerge as the best-performing district cooperative bank in the State.
Mr. Jolle further said the bank’s records would be fully digitised by April and that new technological tools would be adopted.
Meanwhile, Balachandra Jarkiholi, MLA and chairman of the Belagavi District Cooperative Milk Producers’ Union, addressed questions about his participation in bank meetings despite not being a director. He said he was attending meetings, rallies, and press interactions at the chairman’s request to support the panel’s functioning. He expressed confidence in Mr. Jolle’s leadership, citing his long record of running the Sri Beereshwar Cooperative Bank profitably, and added that most directors were elected from his panel.
