KAIJS Bank holds 56th AGM, vows to achieve 0% NPA

Situated in Ichalkaranji city in the district of Kolhapur, Kallappanna Awade Ichalkaranji Janata Sahakari Bank (KAIJS) held its 56th Annual General Meeting on 29th July when its Chairman Prakashrao Awade declared that the UCB’s net NPA will be 0% at the end of the current financial year.

Bank’s NPA, as of now stands at 2.98 % and it remains a manageable figure said the Chairman. A Multistate Scheduled Bank KAIJS registered Deposits of Rs.1894.51 crores this year.

Prakashrao Awade Chairman & Ex. Minister for Textile, Maharashtra presented the Annual Reports for the financial year 2017-2018 informing the shareholders that the total business during this financial year has reached Rs.3202 crores plus. Advances have increased to Rs.1308.42 crores from Rs.1202.58 crores earlier, he added.

“Due to the earnest efforts of all officers and staff, members, the bank closed its balance sheet recording a net profit of Rs.10.51crores. The Share Capital & Reserve funds amounted to Rs.200.75 crores reflecting the sound position of the Bank”, underlined Awade.

Awade also informed that the bank has started several advanced technology based services like Mobile Banking, E-commerce, POS Services, Rupay platinum debit card etc. for their customers and is going to start Internet Banking shortly.

Founder chairman & Ex MP Kallappanna Awade also addressed the meeting & expressed good wishes for the future development of the Bank. CEO Shri Vijay Kamat read the notice and put out the financial position of the UCB before the members.

Vice chairman CA Chandrakant Chougule, Ex. Chairman Dr. Ashok Soundattikar, directors of the bank & other dignitaries were present, among others in the AGM. It bears recall that the bank is operating through 44 branches, out of which 40 branches are in Maharashtra and four are in Karnataka.

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