Ramesh Katti appeals to people not to panic over change of leadership at DCC bank

Ramesh Katti, who recently resigned as the chairman of the District Central Cooperative Bank, has appealed to people not to panic over the change of leadership at the financial institution.

“The bank is financially healthy. Account holders like farmers should not panic about it. The bank will continue to function as usual. There will be no disturbance. People should not withdraw money from the bank based on rumours,” he told reporters in Bellada Bagewadi on Sunday.

He said that he had resigned as he was reaching the age of 60. He denied reports that there was pressure on him to resign or that some directors had conspired against him.

“I have worked as the DCC chairman for 27 years. I have worked sincerely for the progress of the bank. I have resigned after discussing with everyone. There were no attempts at bringing in a no-confidence motion or anything of that sort. I had differences with some directors over expanding the number of members. But that is not serious,” he said.

“When I took over in 1999, the bank had a share capital of ₹28.60 crore. This has risen to ₹273.66 crore as at the end of March 2024. Deposits which were ₹369.28 crore is now ₹5,797.29 crore. Working capital has increased from ₹577.83 crore to ₹7,894.96 crore. Total loans of ₹442.15 were given then. Now we are giving ₹5,230.74 crore loan. The administrative costs have reduced from 3.23% to 1.71%,” he said.

Published - October 06, 2024 10:58 pm IST