The apex bank-Bihar State Cooperative Bank which is led by Ramesh Chandra Chaubey has released its balance sheet recently, where it indicates that the bank has earned a net of Rs 48.85 crore in the 2019-2020 financial year. Earlier it was 47.31 crore.
According to the analysis of the audited balance sheet sent by the bank to Indian Cooperative, though the bank has failed to increase its deposits, loans and advances, even though there is a slight rise in gross NPA, it has succeeded in earning more profit in comparison to the previous year.
“The deposits of the bank have declined from 1,348.49 crore to Rs 1233.18 crore in the 2019-20 FY. The Gross NPA of the bank increased from 4.81 percent to 4.88 but the bank succeeded in controlling the Net NPA from 2.07 percent to 1.61 percent”, according to the balance sheet.
The bank has earned a gross profit of Rs 74.92 crore in the 2019-20 FY which was Rs 72.72 crore earlier. The CRAR of the bank has increased from 21.26 percent to 25.76 percent. The fund has risen from Rs 672.65 crore to Rs 721.28 crore in the 2019-2020 FY.
The press release further reads, “With the collaboration of the state government, Bihar State Cooperative Bank is providing direct benefits to the farmers through the crop assistance scheme, paddy procurement and fruit vegetable processing etc. At present 1960.49 crore has been paid to farmers in procurement”.
“In the financial year 2019-20, under the successful assistance scheme, a total of 246.32 crore rupees have been deposited in the accounts of farmers. Our bank is providing 3.75% interest to customers in savings accounts, which is quite attractive compared to other
banks. Several schemes including Daily Deposit Scheme, Atal Pension Scheme and others have been launched for the customers”, it further reads.
Meanwhile, the bank is also planning to launch several other loan schemes including Sahakarita Rozgar Loan in which the bank will give loan to small shopkeepers, Sahakarita Mahila Vikas Loan in which the bank will provide loans to women.
It bears recall that Chairman Chaubey is a close aide of newly elected MLC and well-known co-operator Sunil Singh. The recently concluded co-operative conference in Bihar was a team work in which Chaubey played an important role, say co-operators of the state.
