Nilgiri District Central Co-operative Bank is a bank with a history of 70 years. It is doing a good job in providing banking services to the people of Nilgiri district and 36 affiliated central societies across the district. In the last financial year 2023-2024, a loan of Rs 44969.16 lakh was disbursed in the name of Central Cooperative Bank. Out of this, 50,207 persons were beneficiaries through the central banks and 58,344 persons through the credit cooperative societies. In the current year 2024 and fiscal year 2025, Rs 6198.97 lakh was disbursed. In addition, special loan schemes such as Debt Restructuring Loans for Senior Citizens, Car Loan for Salaried and Retired Persons, Car Loan for Salaried and Retired Persons, Consumer Loan for Home Purchases, Special Loan for Folk Artists and Artisans Making Traditional Art Products, Special Loan for Artists and Dream Home Loan for Artists are also offered in Nilgiris district.
To encourage the saving habits of the customers of Kalaignar Women Entitlement, the Malayarashi Series Deposit Scheme is introduced with additional interest. Under the Kalaignar Magalir Urimai scheme, the Government of Tamil Nadu provides financial assistance of Rs 1,000 per month to the women living there. The Government of Tamil Nadu has identified around 1.06 million women who are benefiting from this scheme. The Government of Tamil Nadu received 1.63 million applications for the scheme and 1.06 million women were shortlisted after examining the eligibility criteria.
Under this opportunity savings scheme, 8% interest on deposits for 555 days and 8.50% interest for senior citizens is offered. In this case, camps were conducted to educate the public about the loan details of the cooperative societies. In this way, 1808 people participated in these camps and applied for loans.
Talking about the activities and practices of the cooperative banks, Dayalan, Zonal Joint Registrar of Cooperative Societies, said, “The Nilgiri Cooperative Bank is providing excellent services to the farmers and the public. Crop, livestock and other loans are also provided through the Agricultural Primary Societies in Nilgiri district”.
“We provide loans to all categories. We provide loans to underprivileged people and minorities such as Adi Dravidian tribal loans, livestock loans, housing loans, mortgage loans, loans to women groups and various other types of loans”, he added.
The District Central Co-operative Bank is implementing various special loans such as the Artist Dream Home Scheme announced by the government, the Education Loan Scheme announced by the Minister for Cooperatives and loans to the differently abled. Special deposit and loan disbursement camps were conducted in various villages for the last five days. About 20,000 members participated in these. 16,000 of them enquired about the type of loans offered.
The primary aim is to ensure that the cooperative’s services reach the people of Kadakodi village. They are working to make government loans accessible to the common poor.
“We have distributed money to women under the Artist’s Women’s Rights Programme using a mobile van in Thengumarahada village”, a villager in Kadakodi in the Nilgiris said.
“It is a matter of pride that this money transaction has been done only through the cooperative for this village,” he added.
Comments
0 comment