There is good news coming from North Karnataka for the cooperative sector as the fastest growing UCB of the region SUCO Souhardha Sahakari Bank has achieved yet another milestone by crossing a turnover of Rs 806 crores this fiscal.
This was announced in a media briefing addressed by Mohith Maski, Chairman of SUCO Bank this Tuesday at SUCO Bank headquarters in Bellary. The UCB has retained its number one position in co-Operative sector in North Karnataka by achieving Rs. 490 crores of Deposit and Rs. 316 Crores of Advance; Non-Performing Asset (NPA) of the bank is 1.40% thereby underlining its innate strength, said a proud Chairman Maski.
The UCB has earned a profit of Rs 7.90 Crores. It may not be out of place to mention here that SUCO Souhardha Sahakari Bank is the first Co-operative Bank in Karnataka which has been registered under UPI Platform and has plans to launch BHIM App, Tez, Pay TM & Phone Pay from May 1st 2018 onward.
It is already providing service through S-Pay, POS & E-Commerce to its customers. The Bank has got IFSC Code from RBI and was the first UCB in the state to join ATM network by providing debit cards since last 4 years.
SUCO Souhardha Sahakari Bank opened 10 branches in 2017-18 and has a total strength of 28 branches today. It has sent proposal to RBI seeking permission for opening 8 new branches at Tumkur, Chitradurga(2nd), Holalkere, Hospet(2nd), Sirsi, Hungund, Bagalkot & Badami, informed its Chairman.
Talking to media Mohith Maski also informed that the Bank which was registered in 1994 would be celebrating its Silver Jubilee from October 31st 2018 to 31st October 2019. It future plan entails achieving Rs. 1000 Crore business and starting new Agri App for the welfare of Agriculture Community, underlined the Chairman. It is also active in providing help to start Farmers Produces Organisation (FPO), added Maski.
To encourage farmers the UCB is providing “Good Farmer” and “Good Agri Technology” Award of Rs. 1 Lakh each every year to the eligible farmers.