A delegation led by NABARD’s Chief General Manager K S Raghupathi visited the sprawling headquarters of Maharashtra based Raigad District Cooperative Bank last week.
The 31-member delegation from Nabard, composed of the CGM and its five Deputy General Managers and others, were warmly welcomed by the Bank Vice-Chairman Suresh Khaire, CEO Mandar Vartak, among others.
Speaking on this occasion, Raghupathi said, “Raigad DCCB is on the growth path and working steadily to help the farmers. All cooperative banks in the country should study and emulate the functioning of the Bank, he added while on a study tour in Raigad district.
“Raigad District Co-operative Bank has so far achieved remarkable achievements in many fields such as Savings Group activities, distribution of KCC cards, e-power, computerization of institutions and the bank has also maintained continuity in its business”, he added.
In his speech, Nabard’s CGM also appreciated the efforts of the bank’s Chairman Jayant Patil, CEO Mandar Vartak for taking the bank to newer heights.
On the occasion NABARD General Manager DK Gawli also expressed his satisfaction over the Bank’s performance and upgrading the bank with modern facilities like IMPS, UPI, Google Pay, QR Code.
The Bank’s CEO Mandar Vartak gave a presentation of the Bank’s operations. He also thanked NABARD for encouraging the Bank.
During the study visit, NABARD officials visited the Janajagruti Savings Group which was supported by the bank at Parhur and interacted with the women of the savings group. The bank’s formed more than 20,000 saving groups in the last one decade and total savings are around 120 crores.
Besides, they also visited the Rural Mart at Alibaug, Boreshwar Fishermen Cooperative Society Navgaon and Borlimandla Various Executive Service Cooperatives established by NABARD.
The Bank is one of the fastest growing DCCBs in India with the bank achieving a total business mix of Rs 3,846 crore as of 31st March 2022. The bank earned a net profit of Rs 23.71 crore in the 2021-22 FY.
