A warm welcome to you all to the website of our Bank. It is indeed a pleasure to share
my thoughts on the present banking scenario in general and the Bank in particular.
The current year has been challenging one to Cooperative banks ,
- CRR which is interest free reserve which a bank has
to maintain is increased to 4% and Cooperative Banks are now being brought at
par with Commercial Banks.
- The effect of income tax is being felt by smaller
cooperative banks which is leading to lesser reserve creation and internal fund
- Profitability of the banks is also getting impacted
due to stiff competition by commercial banks and lack of technology and better
service options and deeper pockets of commercial banks
- Market share of Cooperative banks stands at just 3%
of total banking transaction and is in decreasing trend.
Latest Developments at our Bank
- New branch opened at Nargundkar Bhave Chowk, Ganpat
- Shahapur Branch to be opened shortly.
- Our bank has started the process of implementing Core
Banking and will shortly start RTGS, NEFT, Any branch Banking, SMS banking and
has a vision to provide ATM services in near future.
Let me first present a snapshot of economic and banking environment in which we had to
carry out our business in the F.Y. 2013-14.
- Deposit exceeds Rs.86.01crores
- Advances exceed Rs.74.58crores
- Total business Rs.132.06 crores .
- CRAR of the Bank stood at healthy 28.21 %.
Trust of the Members and depositors in a bank and
trust of the bank on its borrowers form the forms of the banking business. The
soundness of a bank is the measure of this trust and reflects the ability of a bank
to absorb and overcome any obstacles. The overall results for the year just ended,
indicate the underlying strength of our Bank's financials. I am happy to report that
our Bank has achieved targets pertaining to profitability and asset quality that it
had set at the beginning of the year.
Through continuous monitoring and concerted efforts at all levels, our Bank is
having 0% net NPAs
I would like to thank all our Members, Depositors, Customers, Board of Directors for
their valued guidance and our employees who have made a significant contribution
to our Bank's success.