The 63 years old Industrial Cooperative Bank of Assam has an inspirational story to tell. It is a story of how a competent management can change things for the better. The UCB which lost license during 2013-15 has earned a profit of Rs 3.08 crore this financial year.
In a mail the UCB gives credit to the leadership of Subhra Jyoti Bharali who is presently acting as the Managing Director of the Bank. The release reads” The bank passed through a turbulent phase in 2013-15 and even had to forgo its license but the bank has revived now under the strong leadership of Sri Subhra Jyoti Bharali.”
“As a part of its revival process initiated by Bharali, the bank has been able to make an ever highest profit of Rs. 3.08 cr after having a huge accumulated loss of Rs. 18 cr”, it adds.
Through a tough structural systematic reformation & procedures, the bank has been able to achieve the highest categorization of grading as “A” Grade bank of the state by the Cooperation Department of Govt of Assam.
Now the Industrial Cooperative Bank Ltd is going to launch its ATM cum Debit cards as well as E-commerce to infuse new technology so as to provide better services to its customers. On 25th June 2019, the ATM cum Debit Cards & E-commerce of the bank were inaugurated by Rihon Daimari, Minister of Cooperation, Govt of Assam.
Dr Radha Binod Barman who was the former Chairman of National Statistical Commission, Govt of India was also present. The function was attended by S S Saha, CGM, NABARD:; Lalit Gogi, IAS, Registrar of Cooperative Societies, Govt of Assam; S Nand, Chairman, AGVB along with 200 shareholders of the bank as well as representatives of different banks of Guwahati.
This is for the first time an indigenous bank of Assam is introducing state of the art technology to use the ATM cum Debit Cards and E-commerce facilities in the entire history of cooperative banking in Assam.
The Management of the bank believes this kind of facilities will create a hope for cooperative movement in Assam under the guidance of the Board of Management and the Managing Director Subhra Jyoti Bharali.