Uttarakhand based Almora District Cooperative Bank has concluded its 49th AGM in the presence of BJP MP from Almora Ajay Tamta.
While addressing the AGM, Tamta said Cooperatives can play an important role in fulfilling the dream of PM Narendra Modi in making India a self-reliant country. Loans are being made available to the poor and farmers without interest.
“Samman Nidhi is being given to farmers. The state government is providing loans worth Rs one to three lakhs without interest through cooperative banks”, he added.
In his presidential speech, the Bank Chairman Lalit Latwal said, in comparison of 2017-18, the bank’s own fund has increased by Rs 407.40 lakh in 2018-19. The bank has reported a net profit of 266.93 lakhs in the year 2019-20. The accumulated profit is Rs 410.52 lakh”, he added.
Almora District Cooperative Bank is the first co-operative bank in the country to have its own QR code, claimed bank officials.
