The third largest Urban Cooperative Bank of India- Shamrao Vithal Cooperative Bank which is popularly known as SVC Bank has contributed a cheque of Rs 1.40 crore towards Cooperative Education Fund maintained by the apex body of Cooperatives National Cooperative Union of India (NCUI).
The SVC Bank Delhi’s Regional Manager Rahul Bhatnagar handed over the cheque to NCUI CEO N Satyanarayana at the NCUI headquarters in Delhi recently.
NCUI twitter handle shared the news on social media and called it the highest contribution to the Cooperative Education Fund till date in the current financial year.
Readers would know as per the Cooperative Act a multi-state cooperative society should give a part out of its net profit to the cooperative education fund maintained by the National Cooperative Union of India. IFFCO has been the highest contributor to this Fund so far.
Earlier Karnataka based Multi State Cooperative Society- Tumkur Merchants Credit Cooperative Limited (TMCC) had contributed a cheque of Rs 17.58 lakh towards Cooperative Education Fund.