District Co-operative Central Bank
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Headquarters | Mumbai, Maharashtra, India |
Area served | Rural India |
| Products | Agriculture loans, Consumer banking, corporate banking, finance and insurance, mortgage loans |
| Owner | Government of India |
District Cooperative Central Bank, popularly known as DCC Bank is a cooperative banking network established in India to serve cooperatives and rural areas.[1][2] It was established to provide banking to rural hinterland for agriculture sector with the branches primarily established at rural and semi-urban areas.[3]
The Bank
The Banking model consists of a district central bank for each District in every state of India known with a name as a respective District Central Cooperative Bank. The members and their elected directors who represent a multitude of professional cooperative bodies like Milk Unions, Urban cooperatives, Rural cooperatives, agricultural and non agricultural cooperatives and various others, in turn would elect the bank's President. These banks are collectively represented by a State Apex Central Cooperative bank for each state and it acts as the ultimate bank and apex body for the DCCs under each state. It has been widely observed all over the country that the local politicians who hold the sway over the cooperatives get elected the president post of the DCC bank and a president post would mean nurturing for their future political ambitions. However, this trend, which has become a national phenomenon, carries its own advantages and disadvantages.[4]
References
- ^ "Factional war in Congress". postnoon.com. Retrieved 26 October 2015.
- ^ "Fixed deposit must be paid only to nominees, says HC - The Hindu". thehindu.com. Retrieved 26 October 2015.
- ^ http://www.deccanchronicle.com/130213/news-politics/article/congress-targets-bank-coops-win
- ^ "Pinnamaneni is Congress nominee for DCCB - The Hindu". thehindu.com. Retrieved 26 October 2015.
