The Kannur District Co-operative Bank Limited is the central financing agency in the district under the 3 tier short term Co-operative credit structure existing in the State of Kerala. The Bank was registered on 22nd May 1963 and commenced function on 1st July 1963 and plays a vital role in the overall development of the district. It act as the leader friend of all Primary Co-operatives functioning in the district and performs the role of a banker’s bank inrespect of Primary Co-operative Banks and other Co-operative credit institution in the district by keeping their surplus funds and providing financial assistance and guidance as and when required. Besides this the Bank is doing all the normal Banking Business at par with the Nationalized / Commercial Banks with a network of its 65 branches and 542 staff functioning in the district.
As a recognition of our profound performance, the Bank had been awarded BEST PERFORMANCE AWARD of NABARD consecutively for the three years. In the years 1997-98, 1998-99 and 1999-2000. We are the only District Co-operative Bank in the state and one among the few DCBs at all India level that have been honored by NABARD for 3 years continuously. The Bank has also been awarded Trophies by Kerala State Co-operative Bank for the last several years for mobilization of deposits. Thus we are one among the best in District Co-operative Banks at the national level. The Bank being holder of RBI license is committed to serve the general public with much more endeavor and enthusiasm.
With the network of Primary Agriculture Co-operative Societies we have been accounting for more than 50% of the total credit flow under priority sector in the district.
Under priority sector, our major contribution is towards short-term crop loan under kissan Credit Card scheme which alone accounts for nearly 200crores. To make available timely and adequate credit to farmers particularly for Seasonal Agricultural Operations in a hassle free manner NABARD has introduced KCC scheme and which is in operation in the district for the last several years.
Banana, Rubber, Tapioca, Plantain, Ginger, Coconut, Areca nut, Paddy and Pineapple are the major crops covered under the scheme. At present we are providing credit @ 6.25% interest for the above purpose to Primary Agricultural Societies for disbursing credit to ground level farmers. Besides short term crop loan, medium and long term loan for investment credit for agricultural purpose have been provided on a large scale. Land Development, Soil Conservation, Minor irrigation, Watershed Development, Rain fed dry land development, Seed development, Farm mechanization and plantation & Horticulture are the other schemes in operation.
We had set up a Women Development Cell in the Head Office of our Bank with the support of NABARAD to facilitate planning and ensure increased credit flow to women, on sustainable basis. Under this we have introduced 4 Deposit schemes and 3 loan schemes collectively known as “VANITHASREE” to create a gender friendly banking environment. Kanakanidhi, Vidhyajyothi, Mangalyanidhi & Vanithanidhi are the 4 Deposits scheme under the project. Further, we have introduced scheme for providing financial assistance to SHGs,and Joint Liability Groups (JLGs) for Agricultural and Allied Sector.
Now our total banking business reached 9736.22 crore in the last financial year 2018. It is a remarkable achievement in banking sector in our District
Core banking solution
The bank is functioning under CBS Platform w.e.f 01/04/2013 and is providing all the IT enabled service like RTGS/NEFT,ABPS,CTS,ECS etc to our customers.
We had got direct membership in Chennai Bankers Clearing House (CBCH)
And is participating in CTS clearing directly
Moreover our Bank is engaging the Himalayan task to include the customers of PACS with CBS platform for strengthening the co-operative sector in our District , related to this we distributed more than 50000 ATM cards to KCC holders of various Service banks in the district
At present we have 65 branches functioning in the different part of the District, of which 14 of them are Evening Branches. There are about 1500 affiliated societies as on 31/03/2018 of this 127 are PACS
In addition to banking activities, the bank extending many welfare activities like aid for medical treatment for the down trodden, complementing students in their meritorious achievement in SSLC, Plus-2 and other charitable activities.
We have launched a Technology demonstration VAN with an inbuilt ATM facility.