The 68th Annual General Meeting of the Rajasthan State Cooperative Bank was held on Friday in a hybrid mode, chaired by the bank Administrator and Rajasthan Cooperative Secretary Manju Rajpal.
During the meeting, it was announced that the bank achieved a record net profit of Rs 76.21 crore for the fiscal year 2023-24 and for opening two new branches in Jaipur.
While addressing the meeting, Rajpal said, “ The bank has adhered to all regulatory standards set by the Reserve Bank of India, including CRAR, CRR, and SLR”, she said.
She urged members to implement all 54 initiatives introduced by the Union Ministry of Cooperation in cooperative societies and central cooperative banks.
Rajpal expressed her gratitude to the state government, the Reserve Bank of India, and NABARD for their timely guidance.
The meeting proceeded according to the agenda presented by Managing Director Sanjay Pathak, which was approved unanimously.
A budget of Rs 16,300 crore for the bank was also approved, with an estimated profit of Rs 96.65 crore projected for the year 2024-25. Plans for 2024-25 include opening two new branches in Jaipur and automating medium and long-term loans.
It was reported that during 2023-24, Central Cooperative Banks of the state disbursed loans worth Rs 22,344.83 crore to 31.40 lakh farmers. To support this, the State Cooperative Bank provided refinancing of Rs 9,108.48 crore.