The much awaited election results of Nashik Merchants Cooperative Bank (NAMCO Bank) have finally come out with the Pragati Panel beating the Sahakar Panel hands down. The results which are to be officially announced today clearly show that all the seats have gone to the Pragati Panel.
The election of the top office bearers-Chairman and Vice-Chairman would take place once the results are formally announced today, said one of the wining directors and ex-Chairman of NAMCO Bank Hemant Haribhau Dhatrak on the phone to this correspondent.
About 14 existing directors have been reelected; seven new directors have made it to the Board for the first time. The defeated Sahakar Panel which was supported by MNS and which was led by Gajanan Shalor charged that the Pragati Panel won the election on the strength of money.
Rubbishing this Hemant Haribhau Dhatrak said, “They are in shock of their defeat, so they are making baseless comments. We won on the strength of our past work and the promises we have made in our manifesto”.
Dhatrak further informed that in the period of more than 4 years when the UCB was under administrative control its NPA increased to about Rs 300 crore which is around 40% of the advances. Our first priority would be to reduce this to less than 50 crore in one year”, he claimed.
Hemant Haribhau Dhatrak also said that due to the dictatorial style of functioning of the Administrator, several hard-working officials quit Namco Bank. “One of our priority is to get them back as there is an inherent difference in the style of functioning of an RBI official and that of Co-op official,” he clarified.
Similarly, several customers have also left the bank because of a higher interest rate on loans which has not been revised for so many years. Reduction in the rate of interest on loans is on our agenda and we will serve our customers both new and old well”, he said.
Dhatrak said ”last but not least, we will focus on using the world class technology in the bank so as to give better facilities to our valuable customers.” The board will have a five year tenure.
The list of elected directors is as follows:-