Laying the stone for the construction of a building for the DCCB’s branch office in Rajamahendravaram Agricultural Minister Kakani Govardhan Reddy assured that all possible efforts would be made to develop cooperative banks and bring them on par with commercial banks, reports Deccan Chronicle.
In his remarks the agriculture minister also heaped praise on the AP chief Jagan Mohan Reddy for pumping in Rs. 295 crore that led to cooperative banks and societies making profits.
According to the minister, the state govt will work together with RBI to begin the Andhra Bank with a view to helping cooperative banks level with commercial banks.
The construction of the building would cost Rs 2.50 crore.