Union Minister of State for Cooperation Muralidhar Mohol inaugurated the 18th branch of Pune’s leading Rajgurunagar Cooperative Bank at Bhamboli during a glittering function held on Friday last week.
Speaking on the occasion, Mohol praised the consistent growth of urban cooperative banks and extended his best wishes to the bank’s board of directors for the new branch. He emphasized that the expansion of such institutions is a positive step towards strengthening the cooperative sector.
“Under the guidance of Prime Minister Narendra Modi and the leadership of Home and Cooperation Minister Amit Shah, the Ministry of Cooperation has been actively working to empower urban cooperative banks at various levels — particularly focusing on strengthening semi-urban institutions that play a vital role in the economic development of rural areas,” he said.
While warmly welcoming Mohol and thanking him for attending the inauguration, Bank Chairman Dinesh Oswal made a strong case for increasing the gold loan bullet limit and the CRE (Commercial Real Estate) loan limit. He highlighted that the bank has a clean track record with zero NPAs in loans sanctioned under the CRE category.
Oswal also announced a 9% dividend for shareholders for the financial year 2023–24, which is being directly credited to their accounts.
Local MLA Babaji Kale, BJP District President Sharad Butte-Patil, Bank Vice Chairman Avinash Kahane, Kiran Aher along with all directors and other dignitaries, were present on the occasion.
Rajgurunagar Cooperative Bank has achieved a major milestone by crossing a business mix of Rs 2,901 crore for the fiscal year ending March 31, 2025 — a growth of 15% over the previous fiscal year (2023–24).