Maharashtra based Satara District Central Cooperative Bank, controlled by the co-operators owing allegiance to NCP has done well by earning a gross profit of Rs 150 crore and net profit of Rs 65 crore in the 2020-21 FY.
The DCCB was also in news for helping the needy in the second wave of Covid-19. Satara DCCB made a provision of Rs 3 crore for helping the government hospitals, sub-district hospitals and primary health centers, making covid care centres as well as for providing ventilators and oxygen concentrators.
The Co-op Bank has been on the growth path and doing handsome business year after year. While the banking industry has suffered due to Covid-19 in the 2020-21 financial year, the bank has registered no adverse impact on its business.
The bank crossed the business mix of Rs 14k crore in 2020-21 FY. Earlier in 2019-20, it was Rs 12,867 crore. Besides, the bank succeeded in maintaining the tradition of net NPA at Zero Percent. The gross NPA of the bank decreased from 0.23 percent to 0.17 percent as on 31st March 2021.
Talking to Indian Cooperative bank’s Chief Executive Officer Dr Rajendra Nanaso Sarkale said, “Despite several challenges, we have performed well on all the financial parameters in the 2020-21 financial year. The bank crosses the business mix of Rs 14k crore with deposits 8500 crore and loans and advances 5500 crore as on 31st March 2021”.
“For the last 13 years our net NPA is at Zero level and in 2020-21 the gross NPA of the bank comes down to 0.17 percent. There are over 953 PACCs in Satara district which are associated with our bank and you will be surprised to know that 850 societies are in profit. Besides, our bank CRAR is 11.96 percent and reserve fund and own fund is of Rs 670 crore”, Sarkale said on the phone.
Highlighting the unique features of the bank, he said, “Our bank is giving loan worth of Rs 3 lakh at zero rate of interest to the farmers of the district as well as giving Rs 20 lakh loan for domestic education and Rs 30 lakh loan for education abroad at zero rate of interest to the sons of farmers. At present there are 490 beneficiaries”, the bank CEO claimed.
Coming to the technology adoption, he added that, the bank is providing services like RTGS/NEFT, ATMs, MicroATMs, Any Branch Banking, Internet Banking (View only), CTS, Mobile Banking, IMPS, UPI and APBS, NACH-CR/DR etc.
Besides, the bank has been awarded by NABARD’s “Best Performance Award” continuously for the last six
years. Moreover, the bank has received 94 awards till date and in 2015 was recorded as “Co-operative Banking Topper” in Limca Book of Records.
For doing social responsibility the bank is garnering praise from everywhere. Even the local MLAs and MPs are praising the bank’s efforts. Makrand Patil, MLA from Wai, Khandala wrote on his twitter wall, ” Satara District Central Bank has provided 10 ventilators to my Khandala Mahabaleshwar constituency. Many thanks to the bank Chairman Shivendra Sinharaja Abhaysinhraje Bhonsle and the Board of Directors“. There are many others who lauded the efforts of the bank.
Satara DCCB was established on 15th August 1949 and has a network of 320 branches.
