Mr. Chandran said this has been achieved through the efforts put in by the present management of the bank. The KDC chief claimed his bank could give a run for the big nationalised banks’ money, the daily reports.
The KDC has increased its profit from Rs. 5 crore to Rs 14 crore. The bank has distributed a dividend of 15 percent among its members over the last 2 years. The bank already provides all modern facilities including the core banking facility, Chandran claimed.
Chandran also accused the LDF Governing body of not doing enough for getting the RBI licence for the co-op bank. The first application for grant of licence from RBI was made in 1966 but could materialize only in 2014. LDF Board ruled till 2012.