New schemes on Cosmos Bank’s 109th anniversary

On the occasion of its 109^th Anniversary, the Cosmos Co-operative Bank has announced new services-schemes for its customers. These include, ‘Cosmo Dhanvruddhi Deposit Scheme’, agreement with ‘FINO’ for Business Correspondents and opening of 3 new branches at Hosur and Chennai. Chairman of Cosmos Bank informed this in a press conference last week. Vice-Chairman Madhukar Atre and Managing Director Vikrant Ponkshe were present for the press conference.

Speaking on the occasion Goyal said that the Bank is stepping into its 109^th year. On this occasion one new branch will be opened in Hosur and 2 new branches will be opened in Chennai. With the opening of these three branches the count of branches of Cosmos Bank will reach 140 in 7 States. Cosmos Bank will be able to provide all modern services to customers in Hosur and Chennai. Cosmos Bank already has one branch in Chennai since last 2 years and the setup of this Chennai branch has reached above Rs. 175 crore.

On the special occasion of 109^th Anniversary, Cosmos Bank has launched Cosmo Dhanvruddhi Deposit Scheme’ for all its customers. The customers availing this deposit scheme will get rate of interest of 9.50% on their deposits of 250 days. This deposit scheme will be operative from January 18^th 2015 to February 18^th 2015. Goyal invited the customers to take the benefit of this scheme.

Showing its commitment to Financial Inclusion, till date Cosmos Bank has established 1000 self- help groups. With these self-help groups, Bank is connected to 9000 women and they are provided with all the services of Bank. With a vision to reach people who do not have access to banking, Cosmos Bank has signed an agreement with prestigious organization ‘FINO’.

As per this agreement, ‘FINO’ will appoint Business Correspondents for the Bank at Kolhapur, Thane, Vashi, Dombivali, Chakan, Alandi and Aundh. These Business Correspondents will be connected to Cosmos Bank branches of that particular city. The people who do not have access to banking services will be connected to bank through these Business Correspondents. Business Correspondents will be using android tablets and biometric thermal printers for this purpose.

Alternate Banking Channel that is the Internet and Mobile Banking Cell of Cosmos Bank is certified with ISO 9001:2008 by prestigious BSI. The bank operates a quality management system which complies with the requirement of ISO 9001:2008 for the services like Internet banking, mobile banking, bill payment and ATM operations, informed Managing Director, Vikrant Ponkshe.

The Cosmos Co-operative Bank Ltd., is a multi-state scheduled co-operative bank having its presence in 7 States through 140 branches with a set-up of Rs. 25960 crore.