The Kangra Cooperative Bank, Delhi having about 42000 members and a deposit base of more than 900 crore with a working capital of more than 1000 crores has celebrated three important events in a row in 2017 just within three months. The bank held the 49th Annual General Body Meeting recently, opened the 10th branch in the city on 9th October and elected the management board on 29th October.
Addressing the AGM, Laxmi Dass who has been re-elected as the chairman said the bank has shown remarkable progress compared to the average growth of the banking industry. The bank continues to maintain the distinction of paying 18% dividend, the highest rate permitted as per DCS Rules-2007, for the past 9 years.
Dass counted 25.44% in Deposits,7.28 loans and Advances,12.41 in Share Money, 9.52% General Reserves/Other funds1.66% in membership strength, 24 % in working capital as the bank’s achievements.
Laxmi Dass said that the RBI has acceded to the request of the bank to open 3 more branches. With the opening of proposed branches, the bank’s branch network was expected to increase to12 from the present 9 branches. Dass informed that the Bank has registered significant increase over last year (2015-16) in all the crucial parameters.
While seeking re-election Laxmi Dass claimed that in his tenure the UCB achieved huge success. “We also did not violate any of the norms of Reserve Bank of India or those of Registrar of Cooperative Societies”, he said proudly.
Laxmi Dass also expressed his gratitude to all bank members who have shown confidence in him again over a record period of more than 42 years continuously and assured them his team would do their best to ensure the bank’s growth in all segments.