Despite not getting new currency notes of Rs 22 crore pending with the RBI, Pune District Central Cooperative Bank has earned a gross profit to the tune of Rs 220 crore in the FY 2018-19, announced it’s Chairman Ramesh Thorat.
“The total business mix of the Bank has reached up to Rs 15,618.05 crore. The paid up share capital of the bank is Rs 295.45 crore. The bank has a solicited deposits of Rs 9143.11 crore. The bank has made Investment of Rs 4,638.17 crore and the Net Worth of the bank is Rs 743.06 crore. The C.D.Ratio of the bank is 70.82% and CRAR is at 12%”, Thorat said while disclosing the figures.
During the year the borrower societies, PACS and farmers have repaid their dues in time which resulted in the reduction of NPAs. The bank has disbursed credit to sugar factories, credit societies and individual borrowers to the tune of Rs 6474.94 crore. Presently the bank is having more than 10k as its members”, he said.
However, the chairman of the bank is little disappointed and said, “The Bank is still holding the demonetized Specified Bank notes (SBN) of Rs 500 and Rs 1000 to the tune of Rs 22 Crore. As RBI has not accepted yet the same and the bank is facing adverse situations and challenges. But, inspite of these adverse situations, the bank has recorded its highest Gross Profit over the last 101 years of its existence creating history”, he said proudly.
Thorat extended thanks to customers, depositors, farmers, well-wishers for reposing their utmost confidence and faith in the bank. The latter has acquired faith of the people both in urban & rural areas and will maintain the same forever.
The bank has fulfilled all the financial requirements of the rural sector, entrepreneurs and salaried people and is playing a vital role in the development of the rural economy.
The bank is mainly financing agriculture and allied activities, women’s Self Help groups and common & low income group people.
Similarly, the bank has created a strong network of cooperatives in Pune district with the dedicated efforts taken for the development of the agriculture and allied activities; so as to bring about an improvement in the life of agriculturists.