Vishweshwar Sahakari Bank declares 10% dividend

Anil Gadve, Chairman of Pune based the Vishweshwar Sahakari Bank declared a dividend of 10 per cent to the members on the occasion of the Annual General Meeting of the UCB that took place in the city last Monday.

“AGM was conducted with a great enthusiasm and the members were apprised of various activities the UCB has undertaken”, read a press release mailed by the Vishweshwar Sahakari Bank.

Informing members regarding the performance of the Bank, Gadve said that the Bank has registered a total business of Rs.2350 Cr. comprising Deposits of Rs.1539 Cr. and Advances of Rs.811 Cr. “Capital Adequacy of the Bank has been at 18.49% which is much better than the required minimum of 9%, and the UCB has earned a gross profit of Rs.35.73 Cr”, said Gadve to a high-spirited gathering of members.

Following into the foot-steps of IFFCO, the declared dividend of 10% was credited into the accounts of the members on the very same day. Gadve also vowed to improve further on all the parameters during the current financial year.

To complete the target of finance to the weaker sections of the society, the Bank has decided to make a special drive to finance to the Self Help Groups of Women.

While speaking about the future plans, Mr. Gadve informed that the Bank has been pro-active in acquiring modern technology for the convenience of the customers. This year select branches of the Bank will be provided with an Automated Recycler for accepting and dispensing cash. This will be useful and convenient for the customers dealing in cash.

Mr. Gadve said that the Bank will shortly introduce Net Banking and also make arrangements to accept various utility bills like Electricity Bills, Municipal Taxes etc.

In the meeting senior citizens and meritorious account holders of the Bank were felicitated.

The issue of BoM as suggested by RBI also came up for discussion in the AGM. Chairman Gadve noted that the cooperative sector has opposed such a move.

The meeting was addressed by Vidyadhar Anaskar, a Banking Expert and Mr. Suniel Rukari, Ex-Chairman and Senior Director of the Bank.

Rajendra Miraje proposed a vote of thanks.


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