APCOB HQ Likely at NTR Sahakara Bhavan

Published: 19th August 2014 06:00 AM  |   Last Updated: 19th August 2014 05:18 AM   |  A+A-

VIJAYAWADA:  The NTR Sahakara Bhavan located near Besant Road in the city is likely to be made the headquarters for the Andhra Pradesh State Cooperative Bank (APCOB).

According to official sources, the APCOB management has asked NABARD Consultancy Services (NABCONS) to take up the task.

Meanwhile, Guntur DCCB chairman Mummaneni Venkata Subbaiah confirmed that the division of assets and reserve funds would be completed by October 2.

However, sources said that the differences between the representatives of DCCBs from Andhra Pradesh and Telangana, who constitute the general body of the bank, could not be settled at a series of meetings.

 They could not arrive at a consensus on evaluation of assets and division of `1,700 crore reserve funds.

The APCOB is also unable to resolve the differences over division of immovable assets in Hyderabad, sources say. 

The DCCBs from Andhra Pradesh mooted the division of funds in the ratio of 32:68 for Telangana and AP respectively.

This ratio was worked out on the basis of capital shareholding percentage of DCCBs. The DCCBs from Andhra Pradesh argue that they would incur a loss of `136 crore if the funds were divided in 40:60 ratio. However, the Telangana representatives did not agree to this, resulting in a stalemate.


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