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Cash crunch disturb the operations of KDCC bank

  • Cash crunch disturb the operations of KDCC bank

    Summary: Kolhapur: The Kolhapur District Central Cooperative Bank (KDCCB) has halted its operation after facing a severe cash crunch situation. The present cash crunch situation has put the bank on a back foot. "Of all, the cash crunch has affected the payments of milk. The bank was receiving Rs 2 to 5 crore against their required demand of Rs 35 to 40 crores.Meanwhile, the bank has appealed its customers to initiate online transaction for the time.A recent circular from KDCCB said, "The bank has been receiving insufficient funds for the daily operations. The bank has been trying to source funds from Sangli, Satara, Goa and Pune to cater the needs of the customers.

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    Kolhapur: The Kolhapur District Central Cooperative Bank (KDCCB) has halted its operation after facing a severe cash crunch situation. The bank was receiving Rs 2 to 5 crore against their required demand of Rs 35 to 40 crores.Meanwhile, the bank has appealed its customers to initiate online transaction for the time.A recent circular from KDCCB said, "The bank has been receiving insufficient funds for the daily operations. KDCCB has as many as 191 branches across the district.

    These branches look after agricultural loans, milk payments and pensions and salaries of the teachers. The bank has been trying to source funds from Sangli, Satara, Goa and Pune to cater the needs of the customers.""We have distributed around 1,45,000 Kisan and Rupay cards to the farmers. These cards can be utilised at ration shops and petrol pumps.

    Source: http://timesofindia.indiatimes.com/city/kolhapur/cash-crunch-disturb-the-operations-of-kdcc-bank/articleshow/58305771.cms


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