Gujarat State Cooperative Agricultural and Rural Development Bank (popularly known as Kheti Bank) concluded its 72nd Annual General Meeting on Tuesday in the presence of Gujarat Governor Acharya Devvrat, among other esteemed guests. The Bank noted a remarkable performance on all fronts, as revealed during the meeting.
Kheti Bank Chairman Dollarbhai Kotecha, Gujarat Legislative Assembly Speaker Shankarbhai Chaudhary, Gujcomasol Vice-Chairman Bipin Patel, GSCU Chairman GH Amin, GCMMF Chairman Shamalbhai Patel and others were present on this occasion.
Addressing the participants, Devvrat focused on educating and encouraging farmers about natural farming instead of using chemical fertilizers. “The farmers of the country should adopt sustainable agricultural practices that enhance soil health and biodiversity,” he said.
He emphasized the benefits of natural farming, such as improving soil fertility, enhancing the nutritional quality of produce, and minimizing the negative impacts on ecosystems. It’s crucial to reduce our dependence on chemical fertilizers and pesticides, he suggested.
“To take advantage of available resources, such as government programs, training workshops, and community initiatives, farmers learn more about natural farming practices”, the governor added.
The bank announced a 15 percent dividend for its shareholders. Kheti Bank earned a gross profit to the tune of Rs 92.35 crore and a net profit of Rs 64.30 crore as on 31st March 2024.
During the year 2023- 24 the bank’s net NPA remains 0%. Kheti Bank has created a history of being the first Agriculture bank in the Nation with 0% net NPA.
During the year under review, 3287 new members were enrolled; the total number of members stands at 2,92,759 at the end of 31st March 2024. Last year the share capital as on 31st March 2023 was Rs 47,07,29,095. The share capital at the end of the year i.e. as on 31st March 2024 stood at Rs 52,91,40,830.
In the financial year 2023-24 against the total demand of Rs 581.67 crores the total recovery is 283.07 Cr. Thus recovery is 48.66%, compared to the previous financial year. Whereas the recovery percentage is increased by 3.69%.
Under the OTS scheme in force from Dt. 17-10-2023 till Dt. 31-03-2024 at the end of 31-03-2024, a total amount of Rs 59.35 crore has been collected from 3032 beneficiaries. The bank has waived a total amount of 36.69 Cr., so the farmers have benefited on an average of 38.20% under the settlement scheme.
The Bank’s head office located at Ashram Road, Ahmedabad,17 district offices at the state district headquarters and 177 branches at the taluka level plays a leading role in fulfilling the economic needs of the farmers of the state.
The 148 buildings are owned by the bank, including the premises of 16 district offices and 132 Branches at the taluka level.
