In a remarkable development Sharad Gangal and Vaibhav Singavi have been re-elected as Chairman and Vice-Chairman, respectively of Maharashtra’s leading UCB- TJSB Sahakari Bank.
TJSB Sahakari Bank reported an impressive business turnover of Rs 23,000 crore and a net profit of Rs 216 crore in the 2023-24 financial year. Under the stewardship of Gangal and Singavi, the bank has sustained its stellar performance, and their re-election signals a continuation of its progressive and innovative approach.
Speaking to Indian Cooperative, an elated Sharad Gangal expressed his gratitude for the board’s unwavering support. “I am thankful to our board members for reposing faith in me and re-electing me as the Chairman of the bank. I will strive to meet their expectations, as well as those of our shareholders and stakeholders, by taking the bank to newer heights,” he said.
Outlining the bank’s future roadmap, Gangal emphasized leveraging advanced technologies to enhance operations and customer experiences. “Our primary focus will remain on adopting cutting-edge technologies to streamline the bank’s processes and improve customer satisfaction. At the same time, we aim to increase profitability,” he added.
Gangal also shed light on plans for inorganic growth through strategic mergers, demonstrating the bank’s commitment to strengthening the cooperative banking ecosystem. “We are in the process of obtaining approval from the Reserve Bank of India for the merger of Sawantwadi Urban Co-operative Bank and Citizen Cooperative Bank, Goa, with TJSB Sahakari Bank. Furthermore, we aim to bring other struggling cooperative banks under our umbrella, ensuring their revival and long-term stability,” he stated.
Sharad Gangal’s distinguished career spans over 40 years of leadership in diverse industries. Starting his professional journey with Asian Paints in 1984, he honed his expertise in employee management. He later held key roles at Boehringer Mannheim (1989-1996) and Cadbury Schweppes (1996-2006), driving organizational effectiveness and HR strategies.
As General Manager HR at HDFC Standard Life Insurance (2007-2010), Gangal enhanced HR processes and employee engagement. During his tenure at Thermax India Ltd. (2010-2020) as EVP-HR, he aligned talent strategies with business goals and championed employee relations. Since 2021, Gangal has been working as a Freelance Consultant, specializing in HR strategy, leadership development, and organizational transformation.
Vaibhav Singhvi, a chartered accountant with over 25 years of experience. A former faculty member at Joshi-Bedekar College for 15 years, he has authored over 20 books for undergraduate and postgraduate courses. Serving as a director since 2019, Singhvi has been actively involved in social organizations and held the Vice Chairman position since 2022.
The re-election of Sharad Gangal and Vaibhav Sanghvi marks a significant milestone for TJSB Sahakari Bank, reaffirming its leadership’s dedication to driving growth and fostering resilience in the cooperative banking sector.
Sahakar Bharati’s Maharashtra Chapter President Dattaram Chalke felicitated the newly elected Chairman and Vice-Chairman of TJSB Sahakari Bank during the first board meeting at the bank’s headquarters in Thane.
It is noteworthy that the elections for the bank’s 11-member Board of Directors were conducted unopposed earlier, further underscoring the collective trust in the bank’s leadership.
