TIRUPPUR: The state government has constituted a special committee to find possibilities of establishing a new District Central Cooperative Bank (DCCB) in Tiruppur district.
Sources said, even though 17 years have passed since Tiruppur was formed as a separate district, it still relies on the central cooperative banks located in Coimbatore and Erode districts as a separate administration of the district central cooperative bank, headquartered in Tiruppur, has not yet been established here.
Against this backdrop, G Latha, registrar of cooperative societies, recently constituted a special committee to find possibilities of establishing a new District Central Cooperative Bank (DCCB) in Tiruppur district.
Retired IAS officer Jatindra Nath Swain has been appointed as the chairman of that committee. P Loganathan, managing director of TN urban cooperative banks, has been appointed as the committee coordinator.
Similarly, KVS Kumar, managing director of Erode District Central Cooperative Bank, S Ramakrishnan, managing director of Coimbatore District Central Cooperative Bank, VM Chandrasekar, general manager of Tamil Nadu State Apex Cooperative Bank and Regional Joint Registrars T Prabhu, P Kantharaja, and A Alagiri from the Tiruppur, Erode, and Coimbatore districts have been appointed as committee members.
She has instructed the committee to examine the prospects of a dedicated central cooperative bank for Tiruppur district operating profitably.
The Registrar of Cooperative Societies has requested a committee to study and submit a report on various aspects, including the feasibility of mobilising deposits and extending loans through the new bank, as well as the challenges the new bank might pose for the District Central Cooperative Banks of Coimbatore and Erode.
C Kalidas, a social activist and Tiruppur East District President of Tamil Maanila Congress, said, "It has been our long-standing demand that a dedicated District Central Cooperative Bank be established for Tiruppur district. In this context, we welcome the formation of a committee headed by a retired IAS officer. This request should be considered on a priority basis, and orders should be issued soon."
Speaking to TNIE, T Prabhu, Joint Registrar of Tiruppur, said, "The committee's first meeting was held on Friday. The next meeting will be held soon, after which a report is likely to be submitted."