Hyderabad: Telangana IT and Industries Minister D. Sridhar Babu on Sunday said the definition of banking has evolved from mere deposits and withdrawals to technology-enabled, inclusive financial services. He was speaking at the inauguration of Agrasen Bank’s new branch in Ameerpet.
“Banks today must respond to changing aspirations. Cooperative banks, especially, are vital for equitable access to credit and play a major role in supporting underserved communities,” Sridhar Babu said. Citing the RBI’s Annual Report 2024, he said over 85 million citizens use cooperative banking services, with total deposits and advances crossing ₹5.5 lakh crore.
In Telangana, 48 Urban Cooperative Banks operate 321 branches, mostly in urban and semi-urban zones. Their total turnover last year stood at ₹17,000 crore with a credit-deposit ratio of 66.7%, the Minister noted. He highlighted active branches in Kukatpally, Malakpet, and Ameerpet.
Sridhar Babu outlined Telangana’s P.A.T.H. framework for cooperative banking—Policy support, Access to digital tools, Training and capacity building, and Hybrid finance ecosystems. He said this approach aligns with the CARE model: Community-focused, Affordable & Accessible Credit, Relationship-based banking, and Empowerment of local entrepreneurs.
He said the PATH initiative backs self-employment loans, SHG financial linkages, and green financing. “These banks are mission-driven—not profit-driven—and essential to our state’s economic resilience,” he said.
The launch event was attended by Telangana Agrawal Samaj President Anirudh Gupta, Tibarumal Jewels MD Rambharose Gupta, Somani Ispat MD Ashok Kumar Somani, Agrasen Bank Chairman Pramod Kumar Khedia, Senior Vice Chairman Naveen Kumar Agrawal, and Vice Chairman Suresh Kumar Agrawal.
