Despite unfavorable market condition, recession and changes in strategies, Maharashtra based Kallappanna Awade Janata Sahakari Bank aka Kaijs bank has achieved a business mix of Rs. 3462 crore during the financial year 2018-19, claimed Chairman Prakash Awade.
According to a press release issued by the bank, the cooperative bank’s deposits and advances increased to Rs. 2081 crore and Rs. 1381 crore respectively. The bank has earned a gross profit of over Rs. 25 crore and thus registering an impressive progress compared to the last year.
Despite demonetization and GST, the bank has succeeded in maintaining the Gross NPA at 6.15% and the Net NPA at 2.88% thanks to consistent follow-ups and initiatives. Since its inception, the bank has always been carrying out all the guidelines issued by RBI. Sources close to the bank say the confidence reposed in the bank by members, depositors, creditors and customers has also played a role in ensuring the success of the bank.
The bank has been successfully functioning with its 44 branches across Maharashtra & Karnataka. The bank has provided the digital facilities under Mobile App through UPI Bhim, and Mobile Banking. The bank is playing a vital role in fulfilling the dream of Digital India.
As per the RBI guidelines, the UCB has provided 75% credit to the MSME sector so as to make a strong and successful tycoon. Particularly, the bank has provided credit facilities up to Rs 206 crore for the modernization of auto looms whereby subsidy of Rs 34 crores is credited in the accounts of the customers. Even in the critical and peculiar circumstances, the bank has played a paramount role in enabling the textile sector so as to survive and rejuvenate their business in a peaceful manner.
With an aim to emancipate the womenfolk, the bank has done a wonderful progress through Self Help Groups whereby 15,000 women have been connected. In order to strengthen their lives and to inspire their business, the UCB has provided individual special credit facility for them.
Through the Prime Ministers Awas Yojana, the bank has provided credit facilities to the tune of Rs. 14 crore so as to construct the houses from which Rs. 3 crore has been received as subsidy from the Government. The bank has the honor of being in the third position in the cooperative banking sector as far as this scheme is concerned. Also the bank has provided credit facilities through the scheme of Annasaheb Patil Magaswargiya Development Corporation.
Reserve Bank of India has given AD-II licence to the bank and the bank will now be able to offer the foreign exchange facility to the customers during the ensuing financial year.
The chairman further said the bank could achieve the tremendous progress with the assiduous and ceaseless efforts of the founder-chairman Hon’ble Kallappanna Awade.
Awade added that with the help and cooperation of people the UCB has made a spectacular progress and carved a niche for itself in the cooperative banking sector. He named Vice Chairman of the bank, CA Chandrakant Chougule, Ex-Chairman Dr. Ashok Soundattikar, Ex Vice-Chairman Babaso Patil, Director Swapnil Awade & all directors for their support.
Awade also thanked CEO Vijay Kamat, General Manager Sanjay Satpute, DGM Kiran Patil and the President of Karmachari Mahasangh Rajendra Bachate. Last but not the least he thanked all the executives and staff members along with members, depositors, creditors and well-wishers for their support.