Odisha State Cooperative Bank emerged as one of best performer in all parameters

Bhubaneswar : For the development of the agriculture and farmers community in Odisha State Cooperative Bank has acquired the leading position in the Country. In a Press Conference arranged by Odisha State Cooperative Bank Employees Union, Sri Niranjan Mishra, President stated that having been issued license by Reserve Bank of India to carry on banking business in Odisha, the State Cooperative Bank with its 14 Branches, 17 District Central Coop. Banks and 2706 PACS is rendering desired service through its efficient Management and application of advanced technology. From the date of establishment of this Bank (April 1948), the Bank is incurring profit continuously despite ups and downs during last 69 years. It has proved itself as a leading bank in disbursement of agriculture loans in the Country.
From the statistics, it is revealed that at the national average the agriculture loan disbursed through Cooperative Institutions stands at 16.4%, whereas, in Odisha it is more than 60%. At the time of natural calamities like drought or flood, when the Coop. Banks in other states are showing their apathetic attitude towards financing agriculture sector, Odisha State Coop. Bank could provide agriculture loan during the financial year 2015-16 to the extent of Rs.9572.00 crore to 32 lakhs of farmers which is 15% more than the loan disbursed during 2014-15. The working capital of the Bank has been increased by Rs. 156.00 crore in comparison to last year which reached at Rs.12955.00 crore. In the area of agriculture finance, with only 0.5% margin, the Bank could earn net profit to the extent of Rs.16.66 crore during the year 2015-16 which is 6.73% more than the last year. While the rising of NPA has invited serious concern and headache for the banks at National level, the gross NPA in Odisha State Coop. Bank stands at 2.42% and net NPA at 0% level.
It is pertinent to mention here that this bank stood first in the banking sector for achieving highest per employee business which is at present Rs.69.19 crore per employee. This could be only possible due to efficient Management, timely action and sincerity and commitment of employees as stated by Sri Prabodh Kumar Mishra, General Secretary. As per the policy guideline issued by NABARD, the Cost of Management should not exceed 2% of the Cost of Working Fund, but in OSCB, the Cost of Management was 0.42% during the year 2015-16 and as per Budget estimate for the year 2016-17, it has been projected to be 0.45% of working fund, which is much below the maximum ceiling fixed by NABARD. This proves the efficient management of the bank – Sri Mishra said.
In recent past, the evaluation on the performance of Commercial Banks and OSCB, was conducted by State Government and it has revealed that OSCB has been emerged as one of the best performer in all parameters. This bank is committed to provide better techno based service for the development of agriculture and farming community in Odisha. To achieve this object, the bank has started inter-connectivity through system, among three tier structure. The connectivity of OSCB with 17 DCCBs have been completed and the connectivity work with PACS are in progress which is expected to be completed by 31st March, 2017. After completion of the above mission, the service can be further improved and expedited through three tier structure. The Bank is making all sincere efforts to make further progress in providing qualitative and prompt service through modern technology in competition with commercial banks in the days to come. The bank has also set target to include each and every agricultural family as well as unskilled rural artisan, handi-craft, weavers etc, in the cooperative movement for their overall economic development which will help in strengthening rural economy in the State.
In the Press Conference besides Sri Niranjan Mishra, President, Sri Choudhury Binit Kumar Das, Working President, Sri Achyuta Nanda Patro, Vice-President, Sri Prabodh Kumar Mishra, General Secretary, Sri Brahmananda Nayak, Jt. Secretary, Sri Rabindra Nath Kalundia, Treasurer and Sri Pramod Kumar Nayak, Sri Suresh Ch. Das, were present and clarified the points raised therein.

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OdishaInc Bureau