The much-anticipated cooperative elections, which have been dominating local media headlines in Gujarat, are underway for the board of directors of the Rajkot Nagarik Sahakari Bank, one of India’s leading urban cooperative banks. The fate of 15 director positions will be determined through votes cast using ballot machines.
For the first time in 28 years, the bank, closely associated with RSS ideology, is facing a contested election. This situation has arisen due to a rebellion led by Kalpakbhai Maniar, the outgoing director and former chairman of the bank.
A total of 26 candidates are contesting for 15 director seats, while six directors have already been elected unopposed. The unopposed winners are Navinbhai Patel, Lalitbhai Vora, Dipakbhai Bakaraniya, Surendrabhai Patel, Hasmukhbhai Hindocha, and Mangesh Joshi.
Two panels are in contention: the Sahakar Panel, consisting of candidates aligned with RSS ideology, and the Sanskar Panel, which is supported by Kalpakbhai Maniar.
The bank’s board comprises 21 elected directors. Of these, 18 are from the general category, with 13 seats allocated to the Rajkot constituency and 5 to constituencies outside Rajkot. Additionally, there is one seat reserved for SC/ST candidates and two for women directors.
In the current election, the five seats outside Rajkot and the SC/ST seat have been won unopposed. The primary contest lies in the 13 general category seats from the Rajkot constituency, where 23 candidates are vying for positions. A competitive race is also taking place in the women’s category, with three candidates contesting for two reserved seats.
Vote counting is scheduled for 19th November 2024, and the official results will be declared on 21st November, following approval from the Cooperative Election Authority.
The election for office bearers, including the Chairman and Vice-Chairman, will be held on 23rd November, with results announced after receiving the necessary approvals. Notably, Jyotindra Mehta, popularly known as “Mama,” is not contesting this election due to amended Banking Regulation Act.
Rajkot Nagarik Sahakari Bank has delivered an impressive financial performance, surpassing a business mix of Rs 10,000 crore and achieving a profit of Rs 133.67 crore in the 2023-24 financial year. With a deposit base of Rs 5,139 crore, the bank has expanded beyond Saurashtra and has long enjoyed the patronage of prominent BJP and RSS leaders.
