Rajkot Nagrik Sahkari Bank in Gujarat has stood out, netting a remarkable profit of Rs 129 crores and a total business turnover of Rs 8, 276 crores in defiance of Covid 19. The profit counts a whopping 46 percent higher than the profit of last year. This was revealed during the bank’s AGM.
As per the notes presented by the bank chairman Nalinbhai Vasa and the vice chairman Shailendrabhai Thakar, the bank’s total deposit stands at Rs.5,140 crore and total loan at Rs. 3,136 crore. The net NPA of the bank is negligible and will soon reduce to zero, claims the press release.
It is being said that apart from other reasons, the bank’s profit has been due to the loan of Rs 522 crore given under Atmanirbhar Gujarat Sahay Yojana to various businesses in the wake of Covid 19.
The bank is well equipped with modern banking facilities like cash withdrawal 24 hours, through ATMs and 365 days. NEFT or RTGS can be done through the bank’s applications.
The bank’s CEO and General Manager Vinod Sharma thanked the Nagrik family including the Board of Directors, Members of Branch Development Committee, Delegates, Huge Customer Base, Members and Employees for their invaluable contributions.
It bears recall that Jyotindra Mehta, the high-profile co-operator form Gujarat who is not only the President of NAFCUB but also patron of Sahakar Bharati is connected to Rajkot Nagrik Sahkari Bank. Uday Joshi, the national general secretary of Sahakar Bharati is also on its Board.