In an unaudited report shared with Indian Cooperative, Maharashtra-based Raigad District Central Cooperative Bank has crossed the business mix of more than Rs 3800 crore in the 2021-22 FY. Besides, the bank earned a net profit of Rs 37 crore.
As per the figures, the bank deposits increased from Rs 2,359 crore in 2020-21 to Rs 2,435 crore in the 2021-22 FY whereas loans and advances rose from Rs 1,294 crore to Rs 1,382 crore as of 31st March 2022.
Besides, the total business of the bank grew from Rs 3,653 crore in 2020-21 to Rs 3,817 crore in the 2020-21 FY. The bank has been able to maintain ‘Zero’ Net NPA as it did in the past. It has had zero percent Net NPA for last 18 years
The bank made an investment of Rs 1663 crore in 2021-22 and the CD Ratio of the bank stood at 57 percent. The CRAR is 20.60 percent.
The Raigad DCCB is active in microfinancing and has given microfinance so far to more than 20k Self Help Groups. The bank has disbursed over 100 crores and also digitized over 5,700 SHGs. In the 2021-22FY, the bank disbursed over Rs 22 crore to more than Rs 2,000 SHGs.
Besides, the bank has successfully completed the PACs digitization program for the viability of PACs. It has also started a godown facility project with the help of Nabard and the State govt for a better prospect of local agricultural production.
The bank has taken membership in all credit rating agencies like CIBIL, for effective credit management.
The bank was established in 1960 and the area of operation is the entire Raigad District with its Head Office situated at Alibag. It has 58 branches. The bank also won several awards from the state government as well as other organizations in different categories.