Heralding International Year of Cooperative Keshav Sahkari bank opened its new branch in Shakarpur area of Delhi. The bank would cater to the banking needs of east Delhi.

The occasion was graced by the former Health Minister of Delhi Dr Harshvardhan and renowned economist Mr Bajranj Lal Gupta, among others.

Speaking on the occasion the Chairman of Keshav Sahkari bank Mr Yatendra Mallick said that the eve of vaishakhi was chosen for the inauguration on a purpose. As farmers reap their harvest in this month, so have we succeeded in opening this branch after hard labour, he explained.

Elaborating the merits of Shakarpur branch of Keshav Sahkari bank, he said that it is a highly modern branch with the inclusion of every latest technology. Core banking, Lockers’ facility, no-charge on the closure of accounts are some of its features, he emphasized.

Loan processing fees are also being waived for this branch. Mr Mallick also promised to start ATM and massage alert facility soon.

He recounted the tough times he had while passing through the stringent pre-conditions laid down by Reserve Bank of India in granting permission for opening of the branch.

Mr Mallick hoped that activities like opening of a cooperative bank branch would strengthen the cooperative movement in its own small way.

MANGALORE: Thirteenth branch of Sri Gokarnanath Cooperative Bank Ltd has been inaugurated its 13th branch at Regal Plaza, on Mission Street. The bank has branches in DK and Udupi districts. Starting out as a cooperative society at Kudroli area here in 1925, it was upgraded in to a town cooperative bank in 1971.

According to A Shivananda Karkera, president the bank has catered to the needs of backward and economically weaker sections of the society by providing them with group financial lending. The bank as per permission granted by Reserve Bank of India intends to open one branch each year. ” RBI allows a bank of our nature to add 1 per cent of its existing branches in the form of new branch,” he said.

Karkare said that the bank during 2008-09 declared a dividend of 20 per cent and earned a profit of Rs 93.86 lakh during 2009-10. The bank’s capital adequacy ratio is 19.37 per cent, above RBI norms.

Computarization of branch and its administrative head office will take place in a phased manner. At present, seven out of its 12 branches are computerised.