Maharashtra based Ratnagiri District Central Cooperative Bank, which was hand-to-mouth till recently, has not only progressed well for itself but has also contributed in the govt efforts to beat Covid 19.
Underlining the fact that cooperatives are always at the forefront fighting for social causes Ratnagiri DCCB has given 25 lakh each to the Chief Minister Relief Fund and the District Collector fund last week.
The Chief Minister relief fund cheque was handed over to the Minister of High Education and Technical Education Uday Samant. The Minister of Transport and Parliamentary Affairs Anil Parab, Bank’s Vice-Chairman B G Jadhav and board directors were present on the occasion.
The bank’s Chairman Dr T.L.Chorage could not become a part of the event due to some personal reasons.
Later on, Sharing the news through social media, the Minister Samant wrote, “On the appeal of Uddhav Saheb Thackeray and in the background of Corona, Ratnagiri District Central Co-operative Bank Ltd. has given Rs 25 lakh each for CM Assistance Fund and the District Disaster Response Fund”.
Last year also Ratnagiri DCCB had pitched in for ventilators when corona was at its peak. Readers would recall that in 2007 the bank was in loss and on the verge of closure with a 64 percent NPA.
But things changed for the better when Dr T.L.Chorage took charge as the Chairman of the bank. The DCCB has been continuously on the growth path ever since.
Today the bank’s business has surpassed Rs 4000 crore and it has earned a net profit of Rs 20 crore with zero percent NPA. The bank has 80 branches across the district.
The Bank has also achieved ISO 9001:2008 certification by giving better services to customers and quality work. It has developed its own computerised executive training centre. It has started working through the CBS system since 2012.
The Bank has started seven Financing Literacy Centres (FLC) with the help of NABARD to support the FI program of the Government of India. The Bank’s rise from the ashes once again proves the point that an effective leadership can play a stellar role in the growth of the co-op movement.