Maharashtra based leading multi-state cooperative credit society namely-Godavari Urban Multistate Credit Cooperative Society performed well on all the financial parameters in the 2023-24 FY and earned a profit (After statutory provisions) of Rs 25.81 crore as on 31st March 2024.
Besides, the society deposits crossed more than Rs 2200 crore. The deposits of the society grew from Rs 1930 crore (2022-23) to Rs 2247.38 crore as on 31st March 2024. The loan and advances increased from Rs 1402 crore to Rs 1712 crore in the 2023-24 FY.
The business mix of the society stood at Rs 3,959 crore in 2023-24, an amount just shy of Rs 4000 crore. The SLR investment (in bank) of the society stood at Rs 413.03 crore as on 31st March 2024.
The financial figures were released on Monday in the presence of the society’s managing director Dhananjay Tambekar.
Talking to Indian Cooperative, the society Chairperson Rajashri Hemant Patil said, “We have performed well on all the financial parameters in the 2023-24 FY and are making efforts to achieve more in the future too. Our society is on a growth path and focusing on adopting new technologies in the activities of the society”.
“We are thankful to all respected members, depositors, RD & DRD agents, well-wishers and all Godavari family members. We will make all possible efforts to cater to the needs of our members”, She said.
The society also launched an ATM card facility, launched a mobile application recently and equipped with all the modern facilities.
It bears recalling that the Godavari Urban Credit Cooperative Society gained propaganda for playing an active role in making the Sahakar Bharati’s credit cooperative adhiveshan in Delhi a grand success.
The society was established on 8th May 2013 with a capital of Rs 29,700. Initially it was a venture of the middle class; covering major portions of Maharashtra, Telangana, Andhra Pradesh, Karnataka, Gujarat and Goa.