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Indore

Updated on: Tuesday, September 28, 2021, 01:11 AM IST

Madhya Pradesh: District Cooperative bank targets profit of Rs 17.96 cr

Targeting a profit of Rs 17.96 crore, disbursement of loan wirth Rs 3,002 crore has cleared. In the annual general meeting, MP Gajendra Singh Patel was present.
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File Photo |

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Khargone (Madhya Pradesh): Annual general meeting of District Co-operative Central Bank Maryadit, Khargone for 2020-21 was held on Sunday in which budget of Rs 303.78 crore for 2022-23 was passed.

Targeting a profit of Rs 17.96 crore, disbursement of loan wirth Rs 3,002 crore has cleared. In the annual general meeting, MP Gajendra Singh Patel was present.

Under this, farmers of the state were availing crop loans at 0% interest. Such system was not available in any other state.

Joint commissioner of cooperative Indore Division and Bank administrator Jagdish Kanoj said that in 2020-21, bank made remarkable progress in the field of technology.

Mobile banking services were launched by National Bank for Agriculture and Rural Development (NABARD Mumbai) president Dr GR Chintala.

The recovery of agricultural loans stood at 75.02%. There was an increase of Rs 31.44 crore in bank's appropriation. This was the reason why the bank earned a net profit of Rs 16.09 crores during the year under review.

With the financial support of NABARD, ATM mobile vans were being operated in rural areas of Khargone and Barwani districts.

Farmers were being provided seasonal agricultural operations loan at 0% interest rate. In order to make agriculture a profitable business, on the instructions of the Central and state governments, a loan of Rs 4.58 crore was provided to 817 farmers under the Animal Husbandry Loan Scheme of NABARD.

Facilities of Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana were also made available to customers. 1,09,594 members were insured by the bank.

Due to which bank customers, depositors and farmers were reaping benefits. Claims of Rs 508.00 lakh were also made in accidents and 15 farmers were given claims of Rs 75.00 lakh under KCC accident insurance scheme.

In the meeting, employees who did excellent work in various fields during the financial year were also felicitated.

Former bank chairman Prakash Ratnaparkhi, Ranjitsingh Dandir, former vice president Baliram Patel, were present.

Bank officials Rajendra Acharya (manager accounts), Anil Kanungo (manager planning & Development), Ajaypal Singh Tomar Manager, Sandhya Rokade (manager marketing) also attended the meeting.

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Published on: Tuesday, September 28, 2021, 01:11 AM IST
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