Almora District Cooperative Bank organized its 48th Annual General Meeting last week in which it became clear that the Bank has done pretty well in the last financial year. The AGM was held in the presence of former Union State Minister and MP Ajay Tamta, Deputy Speaker of Uttarakhand Assembly Raghunath Singh Chauhan and other distinguished guests.
In a telephonic communication with Indian Cooperative correspondent Lalit Sing Latwal, Chairman, Almora DCCB said “We have performed well during the last financial year i.e. 2018-19.The bank has achieved a success in controlling the NPA a challenge for any bank. Besides, we are able to achieve a net profit to the tune of Rs 3.55 crore during the year”.
“Now we are aiming to achieve a net profit of Rs 6 crore till 2020 and would organize several camps in rural areas for attracting more and more customers. Presently, there are over 1.63 lakh account holders associated with us but we are targeting to achieve a total base of 3 lakh account holder till 2020”, he informed.
The bank had its own fund of Rs 53.22 crore in 2016-17 but it increased to Rs 55.26 crore in 2017-18 FY. The loan business has increased from Rs 661.92 crore to Rs 725.12 crore. The bank business has increased by 63.50 crore.
Latwal further informed that during this financial year the bank proposes to open five more branches in Almora district. Presently, the bank has 26 branches providing banking facilities in remote areas. The bank has installed ATMs in its 14 branches. “We will disburse more and more loans to the farmers during this FY and make the process of taking loan easy”, Latwal vowed.
Addressing the delegates, Tamta said cooperative banks are the backbone of development in mountainous areas. The bank is also playing an important role in strengthening the economic conditions of farmers. Tamta recounted the welfare schemes of central and state governments on the occasion.
Former Chairman of the bank, Prashant Bhasoda said permanent employees should be appointed in banks and cooperative societies. One of the members raised the demand for removing the names of deceased persons present in the voter list of the bank for quite a while.
The bank General Manager Vivekanad Pandey, Anita Pant, Pushpa Bisht, Rajesh Chauhan and others were present during the meeting.