The leading UCB of Delhi, Kangra Cooperative Bank has opposed the recommendations of Reserve Bank of India (RBI) panel suggesting conversion of cooperative bank into regular private banks in its 47th Annual General Meeting which was held in FICCI Auditorium in New Delhi last week.
Chairman of Kangra Cooperative bank Laxmi Das said to Indian Cooperative correspondent that the board of Kangra Coop Bank has passed a resolution rejecting the RBI’s Panel recommendation. Later it was unanimously passed by the delegates. The Meeting was attended by 1500 delegates who came from the National Capital Region.
Das announced a profit of 10.5 crore before tax for the year 2014-15 and a dividend of 18 per cent continuously for the fifth year to the members of the Bank.
Bank Chairman said we are displaying the name and photo of defaulters in the branches. Das was happy because in the financial year 2014-2015 the deposits have increased by 13 percent in comparison to the previous year.
The Bank Vice-Chairman Shakti Chand Sharma said that bank should focus on the technology advancement. He informed the delegates about the various activities undertaken by the UCB.
One of the delegate suggested that the employee’s behaviour must be friendly with the bank’s customers. They must explain new schemes and policies of the bank politely. Other delegate suggested that there should be group insurance of members. One of the delegates demanded that TDS should be withdrawn.
Those sitting on the dais included A.C.Parmar, Advisor, Bank CEO, Sanjeev Dheer, Sudesh Thakur, Director.
On this occasion Kangra Bank gave awards to shareholders’ wards. If the members’ ward achieved 90% marks in their 10th exam he was given a sum of Rs 3,100 and if they achieved this percentage in 12th exam they got a sum of Rs. 5,100.
Kangra Cooperative Bank was established in 1972 and presently the bank has 40 thousand members. At present the Bank has 9 branches and is providing ATM facilities in five branches. Bank also provides CBS, RTGS, NIFT services to depositors.