Mirza Qamrul Hasan Beg, Chairman of Jamia Cooperative Bank is a disappointed man today as the lack of emphasis in the Union Budget on cooperative sector has robbed him of all his optimism.” I had laid great store by the Narendra Modi govt,” he said in an exclusive interview to Indian Cooperative.
Cooperative movement is the only movement which encompasses the poor people, said the Chairman whose bank has seen unprecedented growth in recent years. Established in 1995, the UCB has 8 branches located in the Delhi region. The bank has 13,000 members and during the last financial year 2014-15 it earned a gross profit of Rs 5 cr 64 lakh, before tax.
”We are providing ATM facility in our all branches for our customers and mind you, it is not so with other UCBs in the capital,” he added proudly.
But he was sore about the continuation of the income tax burden and other issues plaguing UCBs for long. ” UCBs must be exempted from paying Income Tax ; we had to pay tax of Rs 2 crore last fiscal. We could have helped so many poor had this money stayed with us”, Beg lamented.
”UCBs are playing a key role in improving the lives of poor by providing various services. Our bank has created a
Readers would recall that earlier Reserve Bank of India had imposed a penalty of Rs 2 Lakh for the violation of its norms on Jamia Cooperative Bank as reported in these columns. When reminded, , the Chairman said” We never provide loans to bank directors and their relatives”.
”During my tenure I provided the facilities such as CBS, ATM in the bank and soon we are going to launch 24 E-Lobby integration where one can be able to do transactions at any time. Our bank has won several awards such as Best cooperative bank award given by former CM Sheila Dixit.
The founder of the bank late Mirza Faridul Hasan Beg was awarded a best cooperator award, he was also bestowed with Chaudhary Dilip Singh award by Delhi State Cooperative Bank, Chairman, Bijendra Singh,” said the Chairman.