Uttar Pradesh Sahkari Gram Vikas Bank organized its 43rd Annual General meeting at Indira Gandhi Pratishthan, Lucknow on Tuesday, in the presence of State Deputy Chief Minister Brajesh Pathak and Cooperation Minister JPS Rathore.
On this occasion, the bank disbursed a dividend of Rs 6.38 crore to its shareholders after a long gap. The new Logo and Tagline were also released on the occasion.
Addressing the AGM, the State Deputy Chief Minister Brajesh Pathak said, “The farmers can be uplifted through the cooperation. The bank has benefited about 14 lakh farmer families by disbursing loans in the schemes of minor irrigation, dairy, agricultural mechanization, and through the schemes of the non-agriculture sector etc’.
“It is only due to the efforts of the dedicated officers and employees of the bank that the bank is not in the red. They have to work more with full dedication and speed up the loan recovery process, which would further help in improving the condition of the bank”, he said.
In his speech, State Cooperation Minister JPS Rathore said, “The cooperative movement of the state has gained momentum under the leadership of Honourable State Chief Minister Yogi Adityanath.
“The crisis-ridden bank is on a growth path and is going to earn a profit of Rs 50 crore in the 2022-23 financial year, which is 10 times higher than in the previous year”, he informed.
Principal Secretary, Cooperative B.L. Meena said that there are 13 SCARDBs in the country, the condition of others is not so good, but UPSGVB is doing good work in the State. Not only did the bank reduce its NPA but also paid all the liabilities of NABARD on time.
Sharing the financial figures on the occasion, Bank’s MD R.K. Kulshrestha said, “In the year 2022-23, the NPA was reduced by Rs 300 crore. In the month of September 2022, a record loan recovery of Rs 180 crores was done. There was an increase of 40 percent in loan recovery and the bank has been earning profit for the last three years. The bank is presently going ahead with computerization of branches”.
The bank loaning portfolio as on 31st March 2022 was Rs 247 crore but for the current financial year it is expected to reach more than Rs 255 crore. UPSGVB has 323 branches across the state. The bank also runs a special scheme for the education of farmers’ children falling in OBC and SC/ST category. The bank is giving loans at a 3 to 6 percent rate of interest.
On this occasion, Deputy Chief Minister and Cooperative Minister felicitated former MDs Andra Vamsi and Arvind Kumar Singh. Senior co-operator Vijay Shankar Rai was also honoured on the occasion.
UPSGVB Chairman Satranj Yadav, State Forest Minister K.P. Malik, Additional Commissioner (Banking) B. Chandrakala (IAS), Chief General Manager, NABARD Sanjay Kumar Dora and others were present on the occasion.
