Warangal Urban Coop Bank Poll On Aug. 21
Internal conflicts and a lack of coordination within the first governing body hindered growth, prompting the RBI to classify WUCB as weak: Reports
WARANGAL: A group of local business leaders and social activists, led by freedom fighter Bhupathi Krishnamurthy, recognised the need for an urban bank in the historic city of Warangal (then part of united Andhra Pradesh). In response, they established the Warangal Urban Cooperative Bank (WUCB) Limited in 1994 under the Andhra Pradesh Cooperative Societies Act of 1964, and commenced banking operations with the Reserve Bank of India’s approval.
The bank’s early years proved challenging. Internal conflicts and a lack of coordination within the first governing body hindered growth, prompting the RBI to classify WUCB as weak. After the next elections, however, shareholders and well-wishers elected Errabelli Pradeep Rao by a large majority. He was re-elected for two consecutive terms with overwhelming support and then chosen unanimously for three further terms. Under his leadership, the bank gradually restored its financial health, became consistently profitable, and expanded to ten branches.
In the last financial year, WUCB’s deposits grew by 14.24 per cent to ₹219.20 crore, while loan disbursements rose by 13.20 percent to ₹154.13 crore, bringing total business to ₹373.43 crore. The bank recorded a gross profit of ₹3.03 crore; after paying ₹60.90 lakh in income tax, its net profit stood at ₹2.22 crore.
Meanwhile, the term of the current governing body ended on July 30. Although new elections were due, they were allegedly postponed for political reasons. Former chairman Pradeep Rao accused minister Surekha of using her influence to delay the polls amid claims of problematic loans, fraudulent memberships, and misuse of funds by management.
Despite these delays, election officer V. Valya Naik has issued a notification for the new board elections. Nominations will be accepted from August 8 to 12, scrutiny will take place on August 13, and the final list of candidates will be published on August 14. Voting and result announcements are scheduled for August 21, with office-bearer elections to follow within three days. The 12-member governing board will include one seat each reserved for SC and ST candidates, two for women, and nine open seats. Nomination submissions, scrutiny, and withdrawals will be conducted at the bank’s main office on O City Road, Warangal, while polling and vote counting will be held at AVV College.