Thalassery Primary Co-operative Agricultural and Rural Development Bank

1) FARM SECTOR LOANS 2) NON FARM SECTOR LOANS 3) RURAL HOUSING LOANS 4) SHORT TERM LOANS 5) DEPOSIT LINKED LOANS

The Bank is implementing various subsidy/relief schemes for promoting Agriculture and providing investment as well as interest relief to its prompt borrowers. The various schemes are: 1.Dairy Entrepreneur Development Scheme (DEDS) 2.National Livestock Mission (NLM) 3.Education loan 4.NORKA Department Project for Rehabilitation of Return Emigrants (NDPREM)

Deposit Mobilization Government of Kerala vide GO (Rt)No.703/2011/Co-op: dt.31/12/2011 had accorded sanction to mobilize deposits through PCARDBanks. We have started Deposit Mobilization w.e.f.01/03/2012 by collecting deposits through the PCARD Banks, with an objective of attaining self-sufficiency in source of fund by collecting term deposits.The interest rate are fixed by the Registrar of Co-operative Societies from time to time . At present we are collecting deposits from members and institutions through 75 PCARDBanks. As per the Registrar of Co-operative Societies Letter No.CLT(3)/45927/2016 dated 28/06/2018 KSCARD Bank is not permitted to accept any kind of Deposit below one year period through our PCARDBanks.The deposit outstanding as on 31.03.2020came to Rs.331.60 crore which was reduced to 15.66% when compared to the previous year. During the year2019-20 Rs.82.23 crore were collected as deposit and Rs.143.83 crore were refunded.The present interest rate of interest asper Registrar of Co-operative Societies circular.No.45/2020 dated 21/05/2020.e. for the period of 1 year to 2years is 6.75% and above 2years 6.50% for individual depositors and 6.75% and 6.50% for institutional depositors respectively which came in to force w.e.f.25/05/2020. The additional interest rate of 0.50% to senior citizen is continuing. As per the decision of the Board of Directors,the bank has requested the Government to accord sanction for starting Deposit Mobilisation at PCARD bank level.