J.V. Satyanarayana Murthy and Chalasani Raghavendra Rao have been unanimously elected as Chairman and Vice-Chairman, respectively, of the Visakhapatnam Cooperative Bank (VCB). According to a statement from the bank, VCB is the largest urban cooperative bank in South India and ranks among the top 15 urban banks in the country in terms of financial performance. Following the bifurcation of Andhra Pradesh, the bank attained Multi-State Cooperative Society status, with branches spread across Andhra Pradesh and Telangana.
The 110-year-old institution has around 1.13 lakh members who have contributed approximately ₹400 crore. The Cooperative Election Authority, appointed by the Central Registrar for Co-operative Societies, issued the election notification on June 16, designating the District Collector of Visakhapatnam as the Returning Officer. The Board of Directors was elected recently.
