agriculture, Karimnagar, National, Politics, Telangana

Konduru Ravinder Rao resigns as TSCAB chairman

K M Dayashankar

Vice chairman G Mahender Reddy also resigns

Releases progress report of the cooperatives in the Telangana state during the last one decade

HYDERABAD, MAY 31, 2024: Mr Konduru Ravinder Rao, Chairman of Telangana State Cooperative Apex Bank (TSCAB), resigned from the post on Friday ahead of no-confidence motion proposed by some of the directors of TSCAB, who are supported by the ruling Congress party.

Mr Ravinder Rao would continue as the Chairman of Karimnagar District Cooperative Central Bank. Similarly, the TSCAB vice chairman G Mahender Reddy has also announced resignation to the post and he would continue as the chairman of Nalgonda DCCB.

Speaking on the occasion, Mr Ravinder Rao said that “When I lost confidence, we (I and vice-chairman) have decided to resign I am not after power or posts. Till my last, I will continue to strengthen the cooperatives”.  He thanked all the DCCBs chairmens, PACS chairpersons and employees, NABARD officials including NABARD former Chairman Govinda Rajula Chinthala, officials of Ministry of Cooperation and Union Minister for Cooperation Amit Shah, former Chjef Minister K Chandrashekhar Rao for giving me an opportunity work as TSCAB chairman for a decade.

Release the progress report about the achievements of TSCAB and DCCBs during his tenure as TSCAB chairman, Mr Rao said that the TSCAB business had increased from Rs 13,156 crore in 2014 to Rs 20,943 crore in 2023. The DCCBs branches increased from 257 to 390 branches in 2023. The customers increased from 9.82 lakhs to 30.09 lakh customers. The DCCBs business increased from 6,849 crore in 2014 to Rs 22,324 crore in 2023.

Stating that they had accorded top priority for transparency and accountability, Mr Ravinder Rao said that they had created 71,65 jobs in the cooperatives including TSCAB and DCCBs by taking recruitment through IBPS. The Telangana state was the first in the country to implement HR policy for the employees of PACS and regularized the services of  3780 staff.

The TSCAB was the first cooperative in the country to introduce mobile ATM, Rupay cards, 24×7 cyber security operations centre (CSOC) and the Telangana was the first in the country to computerize all the PACS. Incidentally, the NITI Ayog had also recommended the Union government to follow the Telangana model for the strengthening on the cooperatives.

He said that all the nine DCCBs in the Telangana state were running in profits and added that the CEOs in DCCBs and TSCAB were recruited as per the norms of RBI and NABARD. The TSCAB, Karimnagar DCCB and PACS have won several national awards from NABARD and NAFSCOB. Karimnagar DCCB Vice chairman P Ramesh, Director V Mohan Reddy and others were also present.

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