By Manoj Kushwaha
The Janata cooperative bank claims to be one of the first banks of its kind in the nation’s capital that offers humanitarian banking.
It not only seeks to uplift the socio-economic status of its members but also helps the senior citizens, disabled persons, widows and government pensioners with a hassle free no frills account service, said the bank’s chief executive officer P.S Pathania in an exclusive interview to the indiancooperative.com.
The bank has had an annual turnover of Rs. 80 crores and a net profit of Rs. 95 lakhs this year. It has deposits worth 60 crores and advances totalling 35 crores.
Janata Cooperative Bank has been paying its members dividend to the tune of 18 percent for the last 10 years, Pathania added.
The bank was started by a group of 15 members led by Mir Mustag Ahmed the first chairman of Delhi Metroplitan Council in 1956.
With an insignificant share capital, the bank began literally from scratch. However, the bank grew into a reputable credit institution over the years. So much so that the bank was honoured with the best cooperative bank award for 2009-10.
All its branches in the capital function under the core banking system and it offers example of one of the successful urban cooperative banks.