On August 6, the 1,68,000 members of Saraswat Bank will vote for 16 new Board members at 200 polling stations across the country and will be monitored by an independent Returning Officer Mr H P Gemini. Out of these 16 members, 10 are from Mumbai, 4 from the rest of the state and 2 from rest of India.
The chances of incumbent Chairman’s Mr Eknath Thakur’s reelection is said to be bright as it during his tenure the bank has beaten the all powerful Maharashtra State Cooperative Bank (MSCB) to emerge as number one in terms of turn over.
Bank, which has grown its balance sheet size by nearly six times and has achieved a total business level of over Rs 28,000 crore in the past 10 years has become India’s largest Urban Co-operative Bank.
Saraswat Bank was established in 1918 and has consistently earned ‘A’ class for 93 years and has been a profit-making and dividend-paying Bank since its existence.
The 226 odd branches of the Bank are spread over six states – Maharashtra, Goa, Karnataka, Gujarat, Madhya Pradesh and Delhi.
The Reserve Bank of India (RBI) has now given a green signal to Saraswat Bank to extend its area of operation from the present six states to the entire country, making it a All-India Bank.
Watch these lines as we bring to you details of political maneuvering as the D day inches close. Elections are unpredictable and election in cooperatives are notorious for back room manipulations. Our representatives have spread around to bring to you the real picture.