Latest news with #DCCB
Hans India
25-05-2025
- Business
- Hans India
Low-Interest Long-Term Agricultural Loans Now Available Through Aija Single Window: Relief for Marginal Farmers
Gadwal: Farmers in the region now have an opportunity to access long-term agricultural loans, including for tractors, harvesters, and other equipment, through the local Primary Agricultural Cooperative Society (PACS) under the District Cooperative Central Bank (DCCB). This was announced by Single Window President Mr. Pothula Madhusudhan Reddy during a press meet held at the Single Window office on Sunday. Addressing the media, he highlighted that farmers often face difficulties securing loans from commercial banks. As a result, they are forced to turn to private moneylenders, who charge exorbitant interest rates. In several cases, farmers have even mortgaged or transferred ownership of their lands to moneylenders when they fail to repay loans, especially during years when crops fail or yields are low. To address this pressing issue, Mr. Reddy revealed a supportive initiative where small and marginal farmers can mortgage up to three acres of their land to the Single Window and avail a maximum of Rs. 10 lakh loan at just one rupee interest. The loan is structured to be repaid in 14 installments over seven years, with each installment amounting to Rs. 1,10,000 every six months. At the end of the term, the total repayment (principal and interest) will amount to Rs. 15.4 lakhs. For a farmer to be eligible, they must first obtain a CIBIL credit report from DCCB Bank with a minimum score of 650. Additionally, farmers should not have any existing crop or long-term loans from other banks. If they do, those loans must be cleared before applying for this scheme through DCCB. The required documents include: Pattadar Passbook (Title Deed) If the land was purchased from others, a registered document and revenue proceedings In case of inherited lands, legal heir records and updated proceedings from revenue authorities Old title documents and passbooks, and Revenue records such as Khata, Pahani, old ROR (Record of Rights), and Pahani records from 2008–09. These documents will be thoroughly verified, and if all are in order, the application will be sent to DCCB Bank for approval. Mr. Reddy assured that loans would be sanctioned and credited to the farmer's account within a month. He also elaborated that loans for agricultural equipment like tractors and harvesters can be availed under the Agriculture Infrastructure Scheme at a 9% interest rate. However, farmers who make their repayments on time are eligible for a 3% interest subsidy from the Central Government, effectively reducing their interest burden to just 6%—equivalent to 50 paise per month per Rs. 100. This initiative, under the guidance of Mahabubnagar District DCCB Bank Chairman Mr. Mamilapalli Vishnuvardhan Reddy, is expected to significantly benefit the farming community by curbing their dependency on private moneylenders and offering a structured, government-supported loan system. Mr. Madhusudhan Reddy urged farmers to make the most of this opportunity and approach the Single Window office for further details and assistance in the application process.
Time of India
11-05-2025
- Business
- Time of India
Ganni Veeranjaneyulu named chairman of Andhra Pradesh State Cooperative Bank
Vijayawada: Former MLA Ganni Veeranjaneyulu from Eluru district has been named the next chairman of the cooperative apex bank — Andhra Pradesh State Cooperative Bank (Apcob). Veeranjaneyulu secured the top post amidst stiff competition from former minister Nettem Raghuram (NTR district) and Makkena Mallikarjuna Rao (Guntur district), all three hailing from the Kamma community. The Apcob chairman enjoys cabinet rank status. Chief Minister N Chandrababu Naidu cleared Ganni Veeranjaneyulu's appointment as chairman of the Eluru District Cooperative Central Bank (DCCB) on Sunday and subsequently elevated him to APCOB chairman. Veeranjaneyulu previously served as the MLA from Ungutur constituency between 2014 and 2019. The chief minister also finalised appointments for DCCB chairpersons in three districts — Eluru, Prakasam, and Kakinada — thereby completing the process across all 13 districts. Operation Sindoor 'Our job is to hit target, not to count body bags': Air Marshal Bharti on Op Sindoor Precautionary blackout imposed across parts of Rajasthan, Punjab 'Indian Navy was in position to strike Karachi': Vice Admiral on Operation Sindoor Previously, DCCB and District Cooperative Marketing Society (DCMS) chairpersons were appointed in 10 districts. District cooperative bank chairpersons elect the Apcob chairman, while DCMS chairpersons elect the Markfed chairperson, the state's apex agricultural marketing agency. Party insiders initially believed that former minister and veteran leader Nettem Raghuram was the front-runner for the Apcob post after being named NTR district DCCB chairman last fortnight. Raghuram served as the excise minister in Naidu's cabinet from 1999 to 2004 and is a three-time legislator from Jaggaiahpet. He currently serves as the NTR district TDP president. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10-Month-old is battling for his life and only you can save him! Give Hope India Donate Now Undo His prospects seemed bright due to the lack of cabinet representation for NTR district. Likewise, Makkena Mallikarjuna Rao — recently named Guntur DCCB chairman and a former MLA from Vinukonda — was considered a contender, as Palnadu district also lacks cabinet representation. However, the chief minister ultimately preferred Ganni Veeranjaneyulu, reportedly considering the political dynamics in the Godavari districts, where the TDP had sacrificed several seats to its ally, Jana Sena. Sources indicate that TDP national general secretary and HRD Minister Nara Lokesh played a key role in the selection, aiming to strengthen party leadership in regions where Jana Sena has more MLAs. The absence of cabinet representation from the Kamma community in the Godavari districts is also believed to have influenced the decision in Ganni's favor. Meanwhile, the Chief Minister appointed Kamepalli Sitaramaiah (TDP) as the Prakasam DCCB chairman and Tummala Ramaswamy Babu (Jana Sena) as the Kakinada DCCB chairman. Naidu also approved the names of Chaganti Muralikrishna (Jana Sena) as Eluru DCMS chairman, Kasireddy Syamala (TDP) as Prakasam DCMS chairperson, and P. Chandramouli as Kakinada DCMS chairman. Get the latest lifestyle updates on Times of India, along with Mother's Day wishes , messages , and quotes !
Hans India
30-04-2025
- Politics
- Hans India
Nagarjuna appointed as DCCB Chairman
Vizianagaram: The TDP high command has recognized the services of two dedicated leaders over the past few years and appointed them to district-level positions. Kimidi Nagarjuna has been appointed as the chairman of the District Central Cooperative Bank (DCCB), while another loyalist G Krishna from S. Kota, has been appointed as the chairman of the District Cooperative Marketing Society (DCMS). Nagarjuna, a techie who returned from the USA, has been actively working for the party. He contested in the 2019 elections on behalf of the TDP from Cheepurupally but was defeated by senior YSRCP leader Botcha Satyanarayana. Despite this setback, he has remained engaged with the public and the party. Although he expected to receive an MLA ticket in the upcoming 2024 elections, the party chose senior leader Kimidi Kala Venkata Rao as its candidate instead. Nagarjuna was disappointed with this decision, but party leaders assured him that he would be placed in a respectable position. Ultimately, he has been appointed as the DCCB chairman. Similarly, G Krishna is also an NRI who sought an MLA ticket from S Kota in the recent elections. However, he was not granted a ticket, as the party opted for Kolla Lalitha Kumari as its MLA candidate. Now, he has been offered the position of DCMS chairman. Speaking on his appointment, Nagarjuna expressed his commitment to work with transparency and to support farmers and small traders by providing loans to improve their living standards.
Time of India
28-04-2025
- Business
- Time of India
CM clears names for appointment of new DCCB and DCMS chairpersons
1 2 3 Vijayawada: Chief minister Chandrababu Naidu has cleared names for appointment of chairpersons to District Cooperative Central Banks (DCCBs) and District Cooperative Marketing Societies (DCMS) in the state. The posts of both DCCBs and DCMS were filled through nomination in 10 districts. While one DCCB and one DCMS chairperson post were granted to Jana Sena , leading partner of NDA alliance TDP took the remaining 18 posts. Since the bifurcation of the DCCBs and DCMS based on the new district was not completed, the posts have been filled up for the combined districts. Former minister and senior TDP leader, Nettem Raghuram of Jaggaiahpet was appointed as DCCB chairman of Krishna district. Raghuram has been acting as TDP district party president for the past several years. Several senior leaders who could not get opportunity to contest assembly elections were accommodated in the nominated posts. New DCCB chiefs S Sivannarayana (Srikakulam), Kona Tatarao (Janasena-Visakhapatnam), Kimidi Nagarjuna (Vizianagaram), Makkena Mallikharjuna Rao (Guntur), Nettem Raghuram (Krishna), Dhanunjay Reddy (Nellore), Amasa Rajasekhara Reddy (Chittoor), Kesava Reddy (Ananthapuram), D Vishnuvardhan Reddy (Kurnool), B Suryanarayana Reddy (Kadapa) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo New DCMS chiefs Avinash Chowdary (Srikakulam), Gompa Krishna (Vizianagaram), K Balaji (Visakhapatnam), Vadranam Haribabu (Guntur), Bandi Ramakrishna (Janasena-Krishna), G Nageswara Rao (Nellore), Subramanyam Naidu (Chittoor), Nettem Venkateswarlu (Ananthapuram), G Nageswara Yadav (Kurnool), Y Jayaprakash (Kadapa)
