After a long wait of over two years, Uttarakhand based Zila Sahakari Bank, Garhwal (Kotdwara) has registered at Public Procurement Portal Government e-Marketplace (GeM), which was launched in August 2016 for online purchase of goods and services. Now the bank will be able to make the purchase of general use goods and services.
It is the first cooperative bank in Uttarakhand which registered at GeM portal, claimed the bank General Manager Manoj Kumar while speaking to Indian Cooperative correspondent on the phone.
“Since the last two years efforts have been made by our bank to register on the GeM portal. Now our bank will be able to purchase essential general goods and services through this online platform, with more than 70k registered vendors”, Kumar said.
He further added that earlier the cooperative minister had appealed to all the co-op banks to get the registration done on GeM portal and this was taken by the management seriously. The portal provides all the goods and services at a cheap rate in comparison to the rates in the open market.
“At the time of inauguration of the new branch, we wanted computers, almirahs and other furniture and we were forced to buy them from the open market but now we can buy it from the GeM portal. It will help the bank in cost cutting”, the bank GM underlined.
Besides, our bank is on a growth path under the leadership of our Chairman Narendra Singh Rawat and others board members. Coming to the bank business, there is no adverse impact of Covid-19 on our business. The deposit of the bank increased from Rs 810 crore to Rs 875 crore in 2020-21 and loans and advances rose from Rs 329 crore to Rs 371 crore as on 31st March 2021, Kumar informed.
The Net NPA and Gross NPA of the bank is 4.98 and 12.03 respectively. The bank earned a net profit of Rs 2.15 crore in 2020-21 FY. “We are aiming to start the internet and mobile banking by 15th August 2022 and will open five branches till the end of the current financial year”, he asserted.