Shah bestows awards on eight ARDBs including Kheti Bank

During the Agriculture and Rural Development Banks (ARDBs) conference organized by National Cooperative Agriculture & Rural Development Banks Federation (Nafcard) at the NCUI Auditorium on Saturday, eight ARDBs were felicitated by Union Home and Cooperative Minister Amit Shah with mementos, among other things.

Out of 8, the four banks received awards for their outstanding performance whereas the remaining four got awards for actively serving the people for more than 90 years.

The banks that received awards for outstanding performance are Gujarat State Cooperative Agriculture and Rural Development Bank (Kheti Bank), Kerala State Co-op ARDB, West Bengal ARDB and Karnataka ARDB.

On behalf of Kheti Bank, its Chairman Dollarbhai Kotecha who doubles as the Chairman of Nafcard, received the award from the Union Cooperation Minister in a glittering function. The bank has a share capital of Rs 42 crore and reserves and other funds are Rs 598 crore.

The bank earned a profit of Rs 50.79 crore in 2021-22 and as of 31st March 2022, the total advances of the Kheti Bank were Rs 4,542 crore.

Moinul Hassan, Special Officer, West Bengal ARD Bank took the award on behalf of the bank and also submitted a memorandum regarding the challenges in giving long term finance, one of the issues that was also raised by the Union Cooperation Minister during the conference.

The bank’s profit after tax for the 2021-22 FY was Rs 6.14 crore and the accumulated profit was Rs 2.35 crore. The bank has net worth of Rs 78 crore and CRAR of 6.77 percent as of 31.03.2022.

Kerala ARDB Administrator Jyothi Prasad received an award for outstanding performance from Amit Shah.

The deposits of the bank are Rs 396 crore and the total outstanding as of 31st March 2022 was Rs 8035 crore. The bank earned a profit of Rs 29.4 crore. The bank net NPA is 11 percent. The investment is of Rs 562 crore, according to the figures shared by the bank’s General Manager Mrs Sindhu R. Nair.

The Karnataka ARDB figured in the outstanding performance category. On behalf of the bank, its President D. Krishnakumar received the award. As of 31st March 2021, the total loan issued was Rs 18,936 crore and the Number of PCARDBs is 178.

The ARDBs which received awards for serving farmers from more than 90 years are Tamil Nadu Cooperative ARBD Bank, Ajmer Land Development Bank, Birbhum Cooperative A&RDB and others.