Chief Minister inaugurates Namakkal District Central Cooperative Bank
The Chief Minister inaugurated the bank from Chennai, and at the function held in the bank in Namakkal, MPs Rajeshkumar and Madeswaran, MLAs Ramalingam and Ponnumsamy, District Collector Durgamoorthi, and officials participated.
The bank will function with a staff strength of 159, including a managing director, a principal revenue officer, a general manager, two assistant general managers, 23 managers, 34 assistant managers, 93 assistants, and four office assistants.
The Namakkal District Central Cooperative Bank has been bifurcated from the Salem District Central Cooperative Bank. The has 746 affiliated societies, including 165 Primary Agricultural Cooperative Credit Societies, four Hill Tribes Large Sized Multipurpose Cooperative Societies, 393 Milk Producers Cooperative Societies, 86 Weavers Cooperative Societies, 26 Employees Cooperative Credit Societies, three Agricultural Producers Cooperative Sales Societies, five Cooperative Urban Banks, seven Primary Cooperative Agricultural and Rural Development Banks and one Cooperative Sugar Mill.
Namakkal District Central Cooperative Bank has started its operations with a share capital of Rs. 76.10 crore, deposits of Rs. 1,826.56 crore and outstanding loans of Rs. 1,636.07 crore. In the financial year 2024-2025, this bank has provided crop loans of Rs. 625.81 crore to 55,583 farmers, cattle maintenance loans of Rs. 117.86 crore to 14,346 farmers, medium-term loans of Rs. 13.78 crore to 1,324 farmers, and jewellery loans of Rs. 1,489.81 crore to 1,64,969 individuals. The bank also provided Rs. 162.65 crore as loans to 1,878 Women's Self-Help Groups and a Rs. 2.69 crore loan to 473 differently-abled persons. Under the special scheme of the Tamil Nadu Government, Rs.34 lakh was provided for the Kalaignar Kanavu Illam Scheme, and Rs.82 lakh under the TAMCO scheme.
Namakkal District Central Cooperative Bank has installed ATMs to facilitate the customers withdrawing money. Similarly, through mobile ATMs and PoS machines, services are provided to the customers and all branches have safety lockers..
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