The Business Bytes
TBB BUREAU
NEW DELHI, FEB 24, 2024
In a recent development, R Vanitha has been appointed as the Administrator of the Kancheepuram Central Cooperative Bank (KCCB) in Tamil Nadu. With an impressive background as the former Chief Director of the National Cooperative Development Corporation (NCDC) and Additional Registrar of Cooperative Societies, Vanitha brings a wealth of experience in overseeing both local and international cooperatives, promising a fresh perspective and strategic direction to propel the institution forward.
Expressing her commitment to the role, Vanitha stated, “I have been appointed as the administrator of the Kancheepuram Central Cooperative Bank, which is the leading bank in Tamil Nadu. Together with my team, I am dedicated to elevating the bank to new heights of success.”
Established in 1915 with just 49 members and a share capital of Rs. 5,000, the KCCB has made remarkable strides over the years. Boasting a robust business turnover of Rs. 6,326.54 crore, the bank now serves 860 members and caters to the needs of 365,859 customers. In the financial year 2022–23, the bank recorded a commendable net profit of Rs. 29.34 crore.
The KCCB has played a pivotal role in the socio-economic development of the region, establishing 52 branches and creating a vast network that includes 264 Primary Agricultural Co-operative Credit Societies (PACS), 177 silk and cotton weavers cooperative societies, and 144 Employees Cooperative Credit Societies (ECCS) across the expansive domains of Kancheepuram, Tiruvallur, and Chengalpattu districts in Tamil Nadu.
