The district cooperative banks of Uttarakhand performed well in the 2023-24 FY and earned a gross and net profit of Rs 232.69 crore and Rs 115.15 crore in the said fiscal year respectively.
Earlier i.e. in 2022-23, the gross profit stood at Rs 180.94 crore and net profit was of Rs 68.12 crore. The figures were shared by Uttarakhand Cooperation Minister Dr Dhan Singh Rawat.
In his comment on the DCCBs remarkable performance, Rawat said, “District Cooperative Banks of Uttarakhand have made a significant progress in terms of earning profitability in the 2023-24 FY. These banks gross profit increased from Rs 180 crore to Rs 232 crore compared to last year “.he said.
“This impressive financial performance reflects the effectiveness of strategies and initiatives launched by the government to support these banks. The state government’s commitment towards financial inclusion and economic development in the state is evident from the success of these cooperative banks”, he added.
He further said, there are 10 district cooperative banks in Uttarakhand and a state cooperative bank, playing an important role in accelerating progress and development in rural areas. These banks are not only providing financial services to the villagers but also providing various schemes and initiatives aimed at improving their livelihood and overall well-being.
It is worth mentioning that Udhamsingh Nagar DCCB earned a maximum net profit of Rs 18.61 crore among all DCCBs in the state. The said bank’s profit is also the highest from the Uttarakhand State Cooperative Bank net profit, which earned to the tune of Rs 15.49 crore as of 31st March 2024.
The lowest net profit has been earned by the Haridwar District Central Cooperative Bank, earned to the tune of Rs 3.28 crore, which was headed by the NCUI GC member Paradeep Chaudhary.
Interestingly, at present there is no board in the district cooperative banks of the state and it is being controlled by the officials of the cooperative department.