A well known face in cooperative circles, Ajay Patel has been re-elected unopposed again as the Chairman of Gujarat State Cooperative (GSC) Bank with his deputy Banas Dairy Chairman and BJP leader Shankar Chaudhary.
The elections for the posts of Chairman and Vice-Chairman were held today at the bank’s headquarters.
The election for GSC bank was held in January, 2020 for five years but according to by-laws of the apex bank the Chairman and Vice-Chairman have to get elected midway–that is after every 2 and a half years. Ajyabhai Patel made it to the top post once again.
The bank has earned a net profit to the tune of Rs 105.17 crore in 2021-22. Earlier, it was Rs 54.41 crore.
The deposits of the bank grew from Rs 8899.26 crore to Rs 10069.21 crore. The loans and advances increased from Rs 6097.97 crore to Rs 7792.71 crore as of 31st March 2022.
It is to be mentioned that Union Home Minister Amit Shah was also on the board of the bank.
The board comprises over 22 directors representing several district cooperative banks of the state.
