The elections for 14 seats of the board of directors of Maharashtra based Kamal Nagari Sahakari Patsanstha were held unopposed. Only three directors are the newcomers, the rest have been elected unanimously from the outgoing board.
The elections of Chairman and Vice-Chairman will be held on the 18th of this month but sources say the outgoing Chairman Satish Patil is all set to become the Chairman for the 2nd term.
While talking to Indian Cooperative correspondent, Patil did not confirm his candidature as the Chairman but said, “The board has to take a decision in this regard”.
Talking about his future goals Patil said, “Our society is on a growth path and has crossed the business mix of more than Rs 450 crore. We are eying to achieve a target of Rs 500 crore till 31st December 2022 and we are sure we will achieve the said target very easily”, he said.
Patil further added, “We have earned a net profit of Rs 3.10 crore as of 31st March 222. In 2020-21, it was Rs 2.82 crore. Apart from business expansion, we are focusing on adopting new technologies to compete with other players in the market. We will soon launch QR code”, he underlined.
The net NPA is 3.8 percent and gross NPA is below 5 percent. The society has 13 branches across the Raigad district and got permission for opening two more branches. “We will open branches in Mahad city and Karjat town located in Raigad district and it will be opened sooner than later”, he asserted.
Readers would recall that recently Maharashtra Cooperative Commissioner Anil Kawade (IAS) visited the headquarters of Kamal Nagarik Sahakari Patsanstha and took stock of the situation of activities being undertaken by the society.
Kamal Nagri Sahakari Patsanstha was established on 4th April 1992 with about 300 members and with a deposit of Rs 30,000. The Credit Society was inaugurated by N.S. Pharande who was then the speaker of the Maharashtra Assembly.