The Kangra Co-operative Bank Limited, the largest Co-operative Bank of the NCTD , Delhi, held its 45th Annual General Body Meeting at FICCI Auditorium, New Delhi recently. Addressing the meeting the Chairman of the Bank Shri Laxmi Dass , who is also chairman of the Delhi Urban Co-operative Banks Federation , elucidated the growth of bank over the previous year.
Addressing the members at this occasion, Mr Dass said that the bank has shown remarkable progress compared to the average growth of banking industry. The bank continues to maintain the distinction of paying 18% dividend , the highest rate permitted as per DCS Rules -2007 , for the past 5 years and less than 1 % net NPA level for the past so many years.
Laxmi Dass said that the RBI has acceded to the request of the bank to open 2 more branches – With the opening of proposed branches, the bank’s branch network is expected to increase to 9 from the present 7 branches. The Kangra Bank would perhaps soon become the first coop urban bank in Delhi to launch ‘RuPay” ATM cards which would enable the customers to do their transactions from more than 1,00,000 ATMs of all the banks across the country.
The bank has already offering funds remittance facility through its own RTGS and NEFT system by which customers are able to transfer funds to any account/bank across country . The Bank has been awarded four times the ‘Best Cooperative Bank ‘ award by the office of RCS and Delhi State Cooperative Union. National Cooperative Union of India (NCUI) has also awarded the Bank for its outstanding performance at its 16th Indian Cooperative Congress held on June 25 & 26 , 2013.
Mr. A C Parmar , Managing Director & CEO of the Bank informed that in addition to this, RBI has granted permission for appointment of BCs/ BFs of the bank . Tender Notice for inviting best competitive offers from OEMs/ Authorised Agents / Eligible Bidders for installation of ATM Machines , appointment of BCs/BFs and providing of EFT Switch Services on shared basis has already been floated and process of selecting the right Vendors/ Parties would be completed by the Technology Development Committee of the bank very soon. He further said that ECS and SMS alert services have also been made available to the customers.
Parmar clarified that the RuPay ATM cards to be issued by the Bank to its customers can also be used as Debit Cards by which customers would be able to make payment for purchases made by them at merchant establishments anywhere in the country.
The Kangra Bank has also been discharging its Corporate Social Responsibility in a befitting manner . Shri B R Sharma , Ex-MD and present Chief Advisor & Professional Director of the Bank informed that the bank has been giving death grant to the family members of the deceased member of the Bank for the last 15 years which has now been increased to Rs.25,000/- w.e.f. 01.01.2014 .
Apart from this the bank has been giving one time cash scholarships and meritorious awards with certificate to the children of members and staff if he/she obtains 90% and above marks in the Board Examinations of 10th and 12th classes. The amount of meritorious award is Rs.3100/-for 10th class and Rs.5100/- for 12th class.
Shri Sharma further informed that the bank has also been paying monthly scholarship amount ranging from Rs.150/- p.m to Rs.250/-p.m. to the child of member / staff who have obtained 71% and above marks in 8th ,9th,10th and 11th classes . He said that the Bank has strong belief that recognition of brilliant students would definitely encourage them to play significant role in shaping the future of our country.
Mr Dass informed that the Bank has registered significant increase in the following segments.
20.26% in deposits
9.85% in loans and advances
13.41% in Income
8.24% in share money and general reserves
1.84% in membership strength
6.70% in Customers strength
7.68% in net worth of the Bank which is 47.58 crore as on 31.03.13