Uttar Pradesh Sahkari Gram Vikas Bank earned a handsome net profit of Rs 98.08 crore in the 2022-23 financial year, which is the highest in the last ten years. Earlier i.e. in 2021-22, the net profit was Rs4.91 crore.
Besides, the Bank has disbursed a loan worth of Rs 270.67 crore to around 13,000 beneficiaries in the 2022-23 FY. UP Sahkari Gram Vikas Bank recovered the dues of Rs 774 crore, which is Rs 178 crore higher in comparison to the 2021-22 FY.
Meanwhile, talking to Indian Cooperative correspondent, the bank MD Shri R K Kulshrestha said, “We have performed well on all the financial parameters in 2022-23 FY and looking forward to perform better in future also. We are also thankful to the State Cooperation Minister JPS Rathore, Cooperative Principal Secretary BL Meena, Chairman Santraj Yadav, Additional Banking Ms. Chandrakala, and other stakeholders associated with the bank for this remarkable achievement”.
The bank is providing loans at the rate of 3.50 to 6.00 percent to the eligible members of National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC). So far, the Bank disbursed more than Rs 41 crore to 1972 eligible beneficiaries.
The Uttar Pradesh Skill Development Mission nominated the Bank as State Training Provider in November, last year.
The bank will give training to the agricultural entrepreneurs from the government budget and will also finance their projects, due to which the agricultural entrepreneurs will get new employment opportunities.
The bank officials’ team led by its Managing Director felicitated the Uttar Pradesh State Cooperation Minister JPS Rathore for the bank’s spectacular performance. The bank’s GM Arunakshi Mishra, Dr. Shraddha Karan and others accompanied Kulshrestha.
Readers would recall that while addressing the 42nd Annual General Meeting of the bank the state deputy Chief Minister Brajesh Pathak lauded the efforts of the bank.
The news is based on the inputs provided by the bank officials to the Indian Cooperative.
