Dr Nethi Muralidhar has been again selected in the fresh selection process as the Managing Director/Chief Executive Officer of the apex bank-Telangana State Cooperative Bank for three years.
It bears recall that the MD’s is completing his term on 2nd July 2021 and in April 2021 the bank had released a notification for the selection of the MD.
It is reported that 12 applications have been received and nine were short listed by the selection committee and called for interviews. In view of the performance of Muralidhar, the selection committee has put its stamp of approval on his name.
Talking to Indian Cooperative on the phone, Muralidhar said, Yes, I have been again selected as the MD of the bank. In 2015 I was selected as the MD/CEO of the bank for three years with the same selection process and in 2018 the board has given me an extension for two years. Since my present term is completing, the selection process was started by the bank”.
“In 2015 the bank’s business was 6k crore and now it is 13k crore. The gross NPA at that time was 5.9 percent but now it’s .14 percent. I have 35 years of experience in the cooperative banking sector”, he underlined.
Congratulating Muralidhar, the MD of the apex body of State Cooperative Banks and DCCBs Nafscob Bhima Subramaniyam wrote on his Facebook wall, “Heartiest Congratulations to Dr Nethi Muralidhar for his selection & fresh appointment as the MD/CEO of The Telangana SCB , based on the Board approved policy & procedure”.
The bank reported share capital collection of Rs 230.64 crore marking 34.10 % growth over Rs 171.99 crore of last year. The total business during the fiscal stood at Rs 13,268.91 crore, 22.33 % higher than Rs 10,847.15 crore during 2019-20.
The bank has set a target of achieving Rs 16,000 crore businesses during the financial year 2021-22.
The Hyderabad Cooperative Apex Bank Limited, Hyderabad and The Andhra State Co-operative Bank Limited were merged in the year 1963 and formed into The Andhra Pradesh State Co-operative Bank Limited (APCOB), with the Head Office at Hyderabad.
Consequent to the reorganization of the State of Andhra Pradesh and formation of a new State of Telangana in 2014, APCOB is reorganized / reconstituted into two State Co-operative Banks, viz., Telangana State Cooperative Apex Bank Limited (Apex Bank) and the residual APCOB, catering to the needs of Telangana and the residual Andhra Pradesh respectively. Both the SCBs started working independently from 2nd April, 2015.