WAYANAD’S OWN BANK

• Highest Performance in 2002-2003
• Deposits 42%
• Loans 15%
• Business

• Top among all banks in Waynad in Agricultural Financing
• Far among DCBs in Kerala to issue SHG loans
• Interest Only For Outstanding Balance
• 15 Branches located at important centres of Waynad district
• All banking services including locker faculties
• Variety of deposit & loan schemes
• 0.5 % additional interest for senior citizen deposits
• Gold loans at reasonable interest rates
• The Only District Co-operative Bank of the state which gives direct loans to self help groups
• Winner Best Performance Award from Govt for implementing Kissan Credit Card Scheme
• Rs.100,000 insurance coverage for KCC holders
• KANAKADHARA- a new cash credit loan with Cheque book facility on the security of gold
 

DEVOLOPMENT OF WAYNAD THROUGH WAYNAD DCB

Waynad is the jewel of the Western Ghats is very picturesque and cool place which lie on the northern part of Kerala state with a series of hills and valleys intersected by rivers and streams. It is situated at an elevation ranging from 700 to 2100 meters above the sea level. It is predominantly agriculture oriented district and is the only one district which shares boundary with two states namely Tamil Nadu and Karnataka.

Waynad District Co-op Bank which has been able to make its presence felt in a strong way in the district came into being on 01.10.1982 soon after the formation of Waynad district in November 1980. It is the youngest district co-operative bank with 15 branches spread across the district, popularly known as JILLA BANK.

Giving major thrust to priority sector leading, the WDC bank has been able to extend a helping hand to agri-plantation. The bank has bagged the first prize in implementation of Kissan Credit Card scheme for the year 1999-2000. It is the first among DCBs in the state to finance self help groups directly setting a role model for others to follow.

Bank had recorded growth of 17.15% in business, 42.27% in deposits and 14.85% in loan and advances during the financial year 2002-03. Bank could bring down the NPA substantially to 10.34% from 16.11% with a recovery rate of 87.39%. Currently bank has 15 branches. Bank has computerized 12 branches where the business hours are extended up to 3.30 pm.

Future plans of the bank include opening of new branches at the important centre of Waynad to reach out more and more customers and launching inter-branch connectivity through internet. Bank envisages a total business of Rs. 25100 lakhs during 2003-04 including Rs. 11600 lakhs as deposit with an incremental increase of Rs.22 Crores. Emphasis would be on procuring low cost deposit.

Second phase of Integrated Co-operative Development ICDP will be implemented in Waynad Shortly. New products like Education loan, Gas kit loan, computer loan to staff of PACS and DCB employees at confessional rates will be introduced.

As Waynad is recently included in Agro Export Zone AEZ for medicinal plant, bank proposes to prepare suitable loan schemes for implementing through Service Co-op Banks and the scale of finance for the next year will be modified accordingly.
The district has been groping in dark due to economic crisis following market crash crops. Still the bank is committed to reach to the aid of the farmers, fully committed to our slogan.

 “Development of Waynad through Wayanad District Co-operative Bank”