The cooperative movement is rather weak in Madhya Pradesh but even so Gwalior Nagarik Sahakari Bank has an ambitious plan to develop itself technologically to be in sync with the changing times.
The bank launched the IMPS and Bharat Bill Payment Systems for its customers recently and would also launch mobile banking apps in April.
Talking to Indian Cooperative correspondent Vinod Suri, Chairman of Gwalior Nagarik Sahakari Bank said, “In a bid to equip ourselves with the new modern technology, we have started BBPS for empowering customers. Over 11,000 shareholders and about 8,000 customers of the bank can avail this facility”. he said.
“We will not charge any cost from users and the service is free of cost. Through BBPS anybody can pay bills such as electricity, gas, landline, DTH across our counters set up in different branches of the bank”, Suri informed.
Vinod Suri further said with the IMPS, the amount of one to two lakh rupees can be sent from the bank account to other banks in less than a minute. For this facility, a fee of Rs 10 for one Lakh and Rs 15 for two lakh will be charged.
“With the country’s youth becoming tech savvy, if you fail to adopt the latest technology in the banking activities you can’t attract more customers. So, we are focusing on adopting the new technology to reach our customers. We are also in the process of launching mobile banking apps in April, Suri said.
Earlier, the bank had opened an E-Lobby facility at its Shinde ki Chhawani branch, on the lines of private banks.
Bank Vice-Chairman Kalpana Sharma, Parmanand Mahor, Director Ramakant Gautam, General Manager, Deepa Kumar and other top officials were present on the occasion.
The UCB had started its activities from a small room in 1980 but now has six branches spread in the area. Currently, the bank is having a business mix of about 400 crore. It plans to touch a figure of Rs 600 crore by the end of 2020.
It disbursed 14 percent dividend to its shareholders in the last fiscal. The Bank has earned a net profit of around Rs 3 crore in the 2018-19 financial year.