The recently concluded Nafcub Conclave threw up a few names of urban cooperative banks which started a century ago and have been serving people ever since. Sadly, they were not recognized by the govt and it was finally the first Cooperation Minister who bestowed them with awards.
While about ten top UCBs were felicitated by the Union Minister Amit Shah, the other numbering 186 were given medals and citations by the MoS Bhagwat Karad. We have already discussed two banks-Saraswat and Cosmos and today we will take up another three banks— Bassein Catholic Cooperative Bank, SVC Bank and NKGSB Bank.
All such banks could not be taken here due to constraints of the space but we promise to feature each of them in course of time. They have, after all, made co-op proud as Amit Shah rightly said if an entity exists for more than 100 years it must have something in them.
Maharashtra-based Bassein Catholic Cooperative Bank brought laurels by receiving an award from the Union Home and Cooperative Minister Amit Shah in a function organized at Vigyan Bhawan last week. The award and shield were received by the acting CEO Sixto A.Fargose and DGM Joseph.
It was established as Credit Co-operative Society by Social reformer Rev Msgr. P. J. Monis, a Christian missionary on 6th February 1918 along with social activists in Vasai to bring financial freedom to the region of Vasai. Through his mission, he succeeded in uplifting society, which has brought a massive change in the people’s lifestyle, education, and financial stability.
On this occasion, Union Minister of State for Cooperation BL Verma, Union Cooperation Secretary Gyanesh Kumar Nafcub President Jyotindrabhai Mehta, Vice-President Vidyadhar Anaskar, and other stalwarts of the cooperative banking sector were present.
It bears recall that recently the election of the board of directors was held and the elections of Chairman and Vice-Chairman are scheduled for 29th June 2022.
The NKGSB Bank, which has operations in five states and a few union territories was also felicitated
The bank was established on 26th September 1917 and has a network of 104 branches spread over the states of Maharashtra, Goa, Karnataka, Gujarat, and others.
The bank’s business mix is more than Rs 11,200 crore and earned a net profit of Rs 14.79 crore in 2020-21. The bank board comprises highly professional members, even its Chairperson is having more than 30 years of experience in cooperative banking at the executive level.
The third-largest urban cooperative bank- Shamrao Vithal Co-operative Bank alias SVC Bank which recently hogged the media headlines for doing a spectacular performance in 2021-22 FY, has again caught the media attention for getting an award from Union Home and Cooperation Minister Amit Shah.
SVC Bank Chairman Durgesh S Chandavarkar, Vice-Chairman Uday Kumar Gurkar, and Managing Director Ashish Singhal took the award from Amit Shah.
Recently, the bank released its financial report for the years 2021-22. As of 31st March 2022, the total business of the bank stood at Rs 31,680.02 crore and earned a profit after tax of Rs 160.20 crore.
Late Rao Bahadur Shripad Subbarao Tamaki, the Maharshi of Co-operation, was the main architect of the Bank and he named it after Late Shamrao Vithal Kaikini, who was his main guiding force and Guru. The Bank was originally registered as a Co-operative Credit Society on 27th December 1906, claims its website.
