For the 2024–25 fiscal year, the Chittoor District Cooperative Central Bank (DCCB) has set a goal of attaining a commercial turnover of Rs 3,600 crore, according to joint collector G Vidyadhari of the Chittoor district. To achieve this target, loans totaling Rs 2,500 crore would be given out, while deposit receipts will bring in Rs 1,100 crore. A DCCB meeting was facilitated by the Joint Collector on Wednesday at the bank’s location. The bank’s 2023–24 annual financial report, which ended on March 31, 2024, was approved at the meeting.

Vidyadhari gave a speech at the event and discussed the bank’s financial results for 2023–2024. The bank’s non-performing assets (NPA) were 1.53% of total assets, and it made Rs 9.66 crore in profit. The bank has steadily increased its deposits to Rs 932.14 crore and its loans to Rs 2,002.25 crore.

The bank has set its business aim at Rs 3,600 crore for the 2024–25 fiscal year, which is made up of Rs 2,500 crore in loan disbursements and Rs 1,100 crore from deposits. Vidyadhari emphasized the importance of encouraging fertilizer business growth in 14 basic agricultural cooperative societies in the Chittoor region in order to boost cooperative societies.

Participants at the meeting included DCCB CEO I Manohar Goud, officials from the Chittoor and Tirupati Cooperative Departments, including Nagavardhana and S Lakshmi, and Murali Krishna and Prabhakar from the Agriculture and Animal Husbandry Department.