The Cosmos Co-operative Bank Ltd. was recently honored with the ‘Best Co-operative Bank’ Award for the year 2023-2024. The award was presented by Murlidhar Mohol, Union Minister of State for Cooperation.
The award ceremony took place during the 45th Annual General Meeting of the Maharashtra Urban Co-operative Banks Federation, held at the newly constructed ‘Sahakar Sabhagruha’ at Cosmos Bank’s head office.
Cosmos Bank received this award in the category for co-operative banks with deposits exceeding Rs. 5000 crore. On behalf of the bank, Chairman CA Milind Kale, Vice-Chairman CA Yashwant Kasar, members of the Board of Directors, and Managing Director Mrs. Apekshita Thipsay accepted the award, which included a memento and a bouquet.
The awards were based on several criteria, including audit category, growth in deposits and advances, gross and net NPAs, CRAR, CD ratio, operating profit, and net profit. Cosmos Bank secured the top position and was named the Best Bank.
Speaking at the award ceremony, Union Minister of State for Cooperation Murlidhar Mohol said, “Co-operative banks are an essential backbone of the economy, and the challenges faced by these banks will certainly be addressed. A new Cooperative Policy for the country will be announced soon.”
Also present on the dais were Cooperative Commissioner Mr. Deepak Taware, Federation President Mr. Ajay Brahmecha, Vice President Mrs. Vaishali Awade, Cosmos Bank Chairman CA Milind Kale, Reserve Bank Director Mr. Satish Marathe, and other dignitaries.