Gujarat Urban Cooperative Banks Federation organized its 47th Annual General Meeting recently under the chairmanship of Jyotindra Mehta, who is also the President of Nafcub.
During the meeting, it was revealed that the total business of Gujarat UCBs has been increased from Rs 1.16 lakh crore (2020-21) to Rs 1.17 lakh crore as of 31st March 2022. Besides, the number of depositors as well as paid up capital of the Gujarat UCBs also rose in comparison to the 2020-21 FY.
But the number of borrowers of the Gujarat UCBs declined from 7.79 lakh as of 31st March 2021 to 6.64 lakh in the 2021-22 FY.
Talking to Indian Cooperative Mehta said, “In comparison to other state UCBs, our state cooperative banks are far better and doing well year after year. And the number of penalties imposed by RBI on Cooperative Banks are less in Gujarat”, he said on the phone.
“The borrowers of cooperative banks increased speedily under the Atma nirbhar Gujarat Sahay Yojana. Under the scheme, the Gujarat UCBs disbursed loans worth of Rs 2500 crore to around 2 lakh people ”, Mehta asserted.
He further said, “We have to work by setting a target and focus on growth. Our federation will also prepare a plan for UCBs to grow themselves”.
The deposits of these banks hiked from Rs 74,893 crore to Rs 75,592 crore whereas advances grew from Rs 41,466 crore to Rs 41,955 crore as of 31st March 2022.
During the year, the Paid-up capital and number of depositors stood at Rs 1561 crore and 1.01 crore respectively.
There are 214 urban cooperative banks in Gujarat, having a network of 1,113 branches. The working capital of Gujarat UCBs as of 31st March 2022 stood at Rs 85,755 crore.
These figures are in the 47th annual report of the Gujarat UCBs federation.