General Manager's Desk

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 creation.
  • 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 Galli corner.
  • 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 strength and 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.