The Sahakar Panel achieved a sweeping victory in the board of directors’ elections of Rajkot Nagrik Sahakari Bank, decisively defeating the Sanskar Panel led by outgoing director and rebel candidate Kalpakbhai Maniar.
The election results underline the Sahakar Panel’s dominant influence and strong support within the cooperative bank shareholders.
The vote counting, held on Tuesday, revealed a one-sided result, with all 15 contested seats being claimed by the Sahakar Panel. Out of the 21-member board, six directors had already been elected unopposed, leaving 26 candidates to compete for the remaining 15 seats.
Notably, none of the Sanskar Panel candidates managed to secure more than 40 votes, whereas the Sahakar Panel candidates garnered overwhelming support, with each receiving 150 or more votes.
The newly elected directors are Hasmukhbhai Chandarana, Madhavbhai Dave, Chandreshbhai Dholakia, Ashokbhai Gandhi, Brijeshbhai Malkan, Devangbhai Mankad, Kalpeshbhai Panchasara, Vikramsinh Parma, Jivanbhai Patel, Dineshbhai Pathak, Chirag Rajkotiya, Bhaumik Shah, Jyotiben Bhatt and Kirtidaben Jadav.
The six directors who were elected unopposed are Navinbhai Patel, Lalitbhai Vora, Dipakbhai Bakaraniya, Surendrabhai Patel, Hasmukhbhai Hindocha, and Mangesh Joshi.
The election for office bearers, including the Chairman and Vice-Chairman, is scheduled for 23rd November. The results will be announced following necessary regulatory approvals.
Rajkot Nagarik Sahakari Bank has delivered an impressive financial performance, surpassing a business mix of Rs 10,000 crore and achieving a profit of Rs 133.67 crore in the 2023-24 financial year. With a deposit base of Rs 5,139 crore, the bank has expanded beyond Saurashtra and has long enjoyed the patronage of prominent BJP and RSS leaders.
As the Sahakar Panel takes the reins, stakeholders anticipate continued growth and strengthened governance for the cooperative bank.