The counting of votes for the 21 seats of Nashik Merchants Cooperative Bank began in right earnest Wednesday morning and two rounds have been completed. The counting which began at 8 am in Sambhaji Stadium on Wednesday is likely to be over by Thursday evening.
The results would be announced tomorrow on Friday.
It bears recall that out of 1,76,262 voters only 63,839 cast their votes in the election of Nashik Merchants’ Cooperative Bank for which the polling held on Sunday. It bears recall that there are three panels including Pragati Panel, Sahakar Panel and Namrata Panel contesting the election.
In total there are 82 candidates in the fray; 70 from the general category, 5 from SC/ST category and 7 from women category”. A total of 310 voting centers had been set-up across the three states including Maharashtra, Gujarat and Telangana. It is being reported that majority of votes were from Maharashtra and around 500 votes were from other states. 36.21% polling was recorded.
According to the election program, “Counting of votes would be held on 26th December 2018. The result would be announced on 28th December.
“The members of the bank are entitled to vote in the election of 21 candidates i.e. 18 from General category, 1 from SC/ST category and 2 from women category, according to the information provided by the returning officer.
It bears recall that in all 328 nominations were filed in different categories but only 200 nomination papers were found valid during the scrutiny.
Nashik Merchant’s Cooperative (NAMCO) Bank was established on 11 June 1959 and is having 81 branches across Maharashtra, Gujarat and Telangana.
The Bank has a total deposit of about Rs 1486.29 crore whereas loans and advances count about Rs 849.08 crore. The Bank has earned a net profit of Rs 25 crore in the FY 2017-18 where as in the FY 2016-17 it earned a net profit to the tune of Rs 37.68 crore.