Kurmanchal Sahakari Bank poised to seek scheduled status

The leading bank of Uttarakhand, Kurmanchal Nagar Sahkari Bank has recently held its board meeting in its headquarters at Kurmanchal Bhawan, Nainital and discussed the idea of achieving Scheduled Status for the bank.

The meeting was presided over by Vinay Sah, Chairman of the Bank and was attended by Ghashyam Bist, Govind Raturi, Dinesh Sah, Durga Das Sah, Pitamber Pant, Inder Prihar, Bhuwan Chandra Sharma, Lalit Sah, Akshay Sah, Arjun Singh Negi other board members.

While addressing the board meeting, Sah said “the bank has achieved all the parameters for achieving Scheduled Status and is planning to take up the matter with the Reserve Bank of India (RBI) to attain the Scheduled Status”.

The Board members unanimously passed the agenda for attaining the Scheduled Status for the bank and welcomed the move with a thunderous applause.

Earlier talking to Indian Cooperative, Sah advocates for adopting latest technology so as to leave no scope for loopholes in transactions and customer services.

After the board meeting Manoj Kumar, DGM, RBI said the bank has registered a 12% growth in deposit, an increase of Rs 12 lakh in profit, reduction in NPA and many other positives things during the financial year ending 2017.

Kumar urged the board to create a Marketing cell & have a Designated Director in the Head Office.

Kurmanchal Nagar Sahkari Bank was established in 1983 and is the leading Urban Cooperative Bank of Uttarakhand having a network of over 41 branches. More than 25,000 members are associated with it.

The bank has 24 on site ATMs and earned a profit of about Rs 14 crore in the last financial year, said bank Chairman Vinay Sah. His father late Madan Lal Sah was the founder of the bank.

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  1. Anonymous

    Its a honour for us. If scheduled status be granted

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