India is home to some of the most reliable banks, with a solid reputation and interesting past. KDCC is an incredibly well-known institution that has an interesting history. Before knowing the background that the bank has, it’s essential to understand the KDCC bank’s full name and. The complete form is that of KDCC can be found here: Kodagu District Co-operative Bank.
Each state of India has an District Central Co-operative Bank (DCCB). The bank’s president is chosen by members and directors. Check out this blog for more information about KDCC and the story of its founding.
The story of incorporation in KDCC
Kodagu District Co-operative Bank was established in 1921 and began functioning in 1922. It was founded by co-operators from the group officials, officials, and non-officials. The bank was founded with the co-operative society of 45 and 16 individual members, each with an equity capital in the amount of INR 4400, and an initial bank account in the amount of INR 10000.
The bank has demonstrated remarkable growth in the field of co-operative banking. KDCC was the second district central bank to receive an authorization with the RBI on the year 1995.
Sponsorship of KDCC
In the beginning of 1990, cooperative banks faced numerous challenges. However, KDCC was able to secure sponsorships from NABARD. Because of this partnership the bank offers a variety of services to customers. The most popular services that are offered through KDCC bank include RTGS/SMS, SMS Mobile Banking ATM cards, as well as other services.
NABARD guidelines help farmers in gaining benefits. They also assist customers enjoy the benefits of Modern banking system by utilizing the official bank website as well as mobile apps.
Principal function of KDCC
We have discussed KDCC Bank’s full form in in the section above. Let’s now look at the primary aspects for the institution in this segment:
- KDCC helps farmers make agriculture simple
- It also provides funds to co-operative societies of the district.
- KDCC acts as a bridge with and the State Co-operative Bank and the Credit Co-operative society
