In a landmark move toward digital banking, Sharad Sahakari Bank launched its new QR code-based payment system under the catchy slogan, “Now not on Notes, but on Finger-tips!” at an event held at the Parag Milk auditorium in Awasari Khurd, Ambegaon last week.
The system empowers customers to make seamless digital transactions from home.
The initiative was inaugurated by Chairman Devendra Shah and Vice Chairman Vivek Walse Patil.
Shah proudly announced that for the first time in its 52-year history, the bank has achieved zero percent Net NPA, crossed Rs 1,866.15 crore in deposits, and now ranks 40th among India’s cooperative banks. The bank has set an ambitious target of reaching Rs 5,000 crore in deposits within two years.
Vice Chairman Patil emphasized the bank’s commitment to social development, highlighting interest-free loans of up to Rs 15 lakh under the Annasaheb Patil Economic Development Corporation scheme. In FY 2023–24, the bank disbursed Rs 129.94 crore to 162 entrepreneurs, posting a net profit of Rs 17.18 crore.
The event saw active participation from directors, customers, and CEO Rajendra Deshmukh, who also introduced the bank’s new Solar Energy Loan Scheme, encouraging members to embrace sustainable financing.
