ANANTAPUR DISTRICT COOPERATIVE CENTRAL BANK
The Anantapur District Cooperative Central Bank Ltd., (ADCC Bank) was established on 3.2.1919 with its Head quarters at Anantapur as a cooperative society primarily to finance Short Term credit to the Primary Agriculture Cooperative Societies in the District. Simultaneously the Long Term credit needs for the Land Mortgage Banks [PADB] in the District catered the farming community. In 1987, the Government of Andhra Pradesh abolished Primary Agriculture Development Banks and introduced Single Window System to cater both Short Term Loans and Long Term Loans through a single institution
The present Anantapur District Cooperative Central Bank Ltd., was registered as a Cooperative Society under the A.P State Cooperative Societies Act 7 of 1964. The main object is to finance Short Term Credit and Long Term Credit to farming community in the District through affiliated Primary Agriculture Cooperative Societies in the District. Besides the bank is also extending helping hand to the weaker sections of the society by implementing Government Sponsored Schemes, emphasis is given to production – oriented lending. Substantial support is also given to Non Agriculture Societies viz., Weavers Societies, and Employees Societies in form of Cash credit / Term Loans to the members of the Society.
The Anantapur District Cooperative Central Bank Ltd., also offers banking services through 28 Branches accepting deposits, and offering all Banking facilities to the customers, competitive interest rates are offered to the customers on par with commercial banks and the deposits are insured with DICGC to the extent of 1.00 lakh per individual.
The Bank has played a crucial role in dispensation of Short Term and Long Term credit for agriculture and for Rural Development in the District through a vast network, coverage and outreach to remote parts of the District. The network profile of the bank is as under:
|No. of DCCB Branches||28|
|Total No. of Affiliated Societies||636|
|Of which – PACS||100|
|-Ceded & FSCS||25|
|– PWCS & OTHERS||288|
|Of which – Men||653454|
The bank in the service of farming community for last 98 years has received RBI license to carry banking business in the year 2010.