In a day of celebration for Gujarat’s cooperative movement, the Gujarat State Co-Operative Agricultural and Rural Development Bank (popularly known as Kheti Bank) hosted a grand Thanksgiving Ceremony to honour Chief Minister Bhupendrabhai Patel for approving its One-Time Settlement (OTS) Scheme, followed by its 73rd Annual General Meeting (AGM) showcasing record-breaking financial results on Thursday.
The Thanksgiving Ceremony, held at Town Hall, Gandhinagar under the theme “Sahkar Se Samruddhi” and as part of the International Year of Cooperatives, drew hundreds of farmer-members, cooperative leaders, and dignitaries. The OTS scheme has already enabled 9,393 farmers to settle long-pending dues and reclaim legal ownership of their agricultural land, restoring not just their property, but also their dignity.
CM Patel praised Kheti Bank as “the most trusted financial institution for the farmers of Gujarat” and lauded its achievement of maintaining Zero Net NPA for three consecutive years. He called the OTS scheme a reflection of the government’s commitment to ensuring that “no farmer is left behind.”
The ceremony saw several touching moments, the CM personally handed over a cheque of Rs 5 lakh to the son of a deceased loanee, felicitated the bank’s best-performing district, and blessed Brand Ambassador Ms. Nirma Thakor as she prepared to represent Gujarat at the Moscow Marathon.
On the occasion, Kheti Bank Chairman Shri Dolarbhai Kotecha announced a Rs 11 lakh insurance cover for all loan-receiving farmer members, marking 11 years of Prime Minister Narendra Modi’s leadership. He also revealed that dues worth Rs 102.70 crore had been accepted under the OTS scheme, balancing financial recovery with farmer welfare.
Dignitaries present included IFFCO Chairman Dilipbhai Sanghani, GUJCOMASOL Vice-Chairman Bipinbhai Gota, MLA Smt. Ritaben Patel, BJP Gandhinagar City President Ashishbhai Dave, and Dr. Chikhliyaji, Chairman of the Gujarat Housing Board, among others.
Later in the day, at its 73rd AGM, Kheti Bank reported a record profit of Rs 103 crore for FY 2024–25 while maintaining its rare Zero Net NPA record.
Operating through 178 branches and planning expansion to all 252 talukas, the bank recovered Rs 323.98 crore against a demand of Rs 611.04 crore (53.02% recovery rate). Under the Krishi Vikas Loan (KVL) Scheme, the recovery rate touched 73.08%. The OTS scheme further recovered Rs 37.38 crore from 2,025 beneficiaries, waiving Rs 21.27 crore in interest, providing an average relief of 36.26% to farmers.
Despite not availing fresh refinance in FY 2024–25, the bank repaid Rs 34.50 crore to NABARD without defaults to NABARD, the Central Government, or the State Government. As of March 31, 2025, its outstanding refinance stood at Rs 22 crore.
In a show of financial solidarity with members, Kheti Bank announced a 15% dividend for shareholders.
With a 75-year legacy since its founding by Shri Udaybhansinhji, Kheti Bank today rivals global cooperative institutions, offering advanced digital services such as WhatsApp chatbots and QR-code payments, and reaffirming its commitment to strengthening Gujarat’s rural economy through cooperative finance.
In his address Chief Minister Bhupendra Patel praised Prime Minister Narendra Modi’s inclusive development policies for transforming the cooperative sector. The ceremony recognized the bank’s remarkable performance, including maintaining zero per cent Non-Performing Assets (NPA) for three straight years and advancing branch digitization to ensure transparency.
Emphasizing Gujarat’s leadership in the cooperative movement, Patel credited the visionary guidance of PM Modi and Cooperation Minister Amit Shah for making the state a model of cooperative growth.
He said the PM’s mantra of ‘Sahkar Se Samridhi’ has energised cooperatives by drawing active participation from farmers, livestock owners, milk producers, and women, thereby strengthening rural prosperity and the state’s economic fabric.
