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News and Events

Strategy for Improvement of Business& Repayment of Loans / Borrowings:-

  • Opening of New Branches � TWO in Coastal area and Two in Rayalaseema Region��� which result in increase of Rs. 8.00 crores of business (Margin Turnover Rs. 6.00 lakhs)
  • Deployment of surplus staff by opening Groceries counters / Rythu Bazaars at (4)� place which may bring business turn over of about Rs. 2.50 crores (margin Rs.7.50 lakhs)
  • Taking up of retail business by all the branches (Turnover RS. 1.00 crores (Margin Rs.5.00 lakhs).
  • Training up of procurement of pulses, red gram on behalf of agencies like NAFED & HACA (Turnover Rs.2.00 crores (margin Rs.2.00 lakhs)
  • Taking up of construction of 4th & 5th floors (MCH permission is already there) which may bring income of Rs.2.00 crore, which will be utilised in business.
  • Commencement of repayment of loans / borrowings to different agencies by setting apart building rents of about Rs. 27.00 lakhs per annum and thus loans / borrowing s can be cleared in a period of 10 years, as there is also 5 % increase in rents every year.

Progress of Audit:

  1. Audit for 1998-99
  2. The Audit has been completed, Final Audit Report Submitted and Audit Certificate is under issue.

  3. Audit for 1999-2000.
  4. The Audit for the year 1999-2000 completed and Final Audit Report is under submission.

  5.  Audit for 2000-2001
  6. The Audit for the year 2000-2001 is under progress and the Final Audit Report will be Submitted with-in 3 Months by the Auditors.

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