Gujarat based Sabarkantha District Central Cooperative Bank crossed the business mix of more than Rs 4500 crore and provided computers to 502 PACCs societies by spending an amount of Rs 78 lakh under the computerization of PACS program.
The total business of the bank increased from Rs 3,843 crore (2020-21) to Rs 4,520 crore in the 2021-22 FY. The deposits of the bank rose from Rs 2,478 crore to Rs 3,022 crore whereas loans and advances grew from Rs 1,365 crore to Rs 1,498 crore in the 2021-22 FY, despite covid-19 the bank registered growth.
As of 31st March 2022, the gross and Net NPA stood at 2.07 percent and ‘Zero’ respectively. It is worth mentioning that, for many years the bank net NPA has been ‘Zero’.
Talking to Indian Cooperative the bank Chairman and veteran cooperator Mahesh Patel said, “We are working hard to take the bank to newer heights. Since I became the Chairman of the bank, the bank has been on a growth path and year after year earning handsome profits. This is only due to the support of management and other board members”.
“Our bank has played a major role in rural banking across Sabarkantha and Aravalli district since 1959. The Bank has a network of 131 branches across Sabarkantha and Aravalli District with all the Latest Digital Banking Facilities”, he said.
The bank’s net profit has been increased from Rs 11.50 crore (2020-21) to Rs 12.50 crore as of 31st March 2022. The net worth of the bank stood at Rs 153 crore. The figures were revealed during the annual general meeting held recently.
Besides, the bank has given Rupay KCC Cards to 83,384 KCC borrowers and sanctioned loans worth Rs 26 crore to 4025 rural artisans during the 2021-22 FY.
In the Godown scheme, during 2014-15 to 2021-22, the bank had given loans to 127 units for Rs 10.62 crore against the bank receiving 49 units subsidy of Rs 77 lakh from the central government through Nabard and Rs 8.46 crore from the state government for 121 godowns.
The bank has also implemented a recovery incentive scheme for PACS secretaries, with a view to motivating recovery from member borrowers of PACS. During the year, 378 PACS were given incentives of Rs 46.21 lakh.
It is being said, the bank is the first in Gujarat state to work on CBS Platform and give high quality facilities to its customers. The bank has started its own ATM services in 35 branches.
The bank has distributed a 12 percent dividend to their members for the year 2021-22.
