TJSB celebrates Golden Jubilee; Bhagwat attends as Chief Guest

RSS chief Mohan Bhagwat participated in the closing ceremony of Maharashtra-based leading bank-TJSB Sahakari Bank’s Golden Jubilee Celebrations on Friday last week and felicitated its past presidents who played an important role in leading the management and taking the bank to greater heights.

Speaking on the occasion, Bhagwat encouraged the management, staff members, and other employees to perform better in the changing times. Lauding Swayam Sevaks for entering into the field of co-op banking to help members of society, the RSS chief said co-operative as a concept and as a part of the Indian psyche has been there since olden times in India.

Noting with satisfaction that the blind following of Western culture has been halted somewhat in recent years, Bhagwat said India has a huge cultural heritage to be proud of.

To mark its golden jubilee celebrations, TJSB organized scores of events every fifth day of the month at its different branches across India. “Since its establishment, the bank has been in profit and disbursed 15 present dividends to our shareholders from more than 20 years. The bank is on the growth path because of its dedicated staff”, said the bank CEO Sunil Sathe to the Indian Cooperative correspondent on the phone.

Sathe added, “During the first wave of Covid-19, our staff worked with full dedication. The bank had given doorstep services to senior citizens and also provided medicines and other necessary items to them. We have lost seven staff members due to coronavirus”, Sathe lamented.

In a major development, the bank is in switching mode to new CBS software and it will be implemented in 14 months. The existing Infra Soft CBS software will be replaced with TCS company software.

In the golden jubilee year, the Bank has undertaken the project to upgrade its Core Banking Solution to keep pace with its increasing business volumes. The Bank is trying to provide a secured IT environment to counter IT / cyber threats and provide a good digital experience to its new-gen customers.

The Bank granted a 6 months moratorium to all its customers and also refunded the “interest on interest” during the period of the moratorium as per the directives of the Supreme Court. Timely changes in the rates of interest on deposits and advances have helped the Bank in recording a robust Net Interest Margin (NIM), says a press release issued by the bank.

The UCB reported a Net Profit of Rs 163 Crore, a new milestone in the history of the Bank. With proper monitoring of the loan portfolio, it managed to bring down the Net NPAs to 0%.

The Bank Chairman Vivekananda Patki, Vice Chairman Sharad Gangal, Bank CEO Sunil Sathe were sitting on the dais with Bhagwat.