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Madhya Pradesh: Mandsaur's district cooperation bank holds annual general meeting

01:06 AM Oct 01, 2021 | FP News Service

Mandsaur (Madhya Pradesh): The 103rd annual general meeting of District Co-operative Central Bank Mandsaur for 2020-21 was held on Tuesday.

It was chaired by BL Makwana, joint commissioner cooperative institutions, Ujjain Division and bank administrator.

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A budget of Rs 149.37 crore was approved in the meeting for 2022-23 and target of disbursement of loan of Rs 922.50 crore has been set eying a profit of Rs 4.76 crore.

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Makwana gave a talk on bank's achievements. He said that under the direction of the government, 1.49 lakh ‘Rupay cards’ were distributed to the farmers of primary agricultural credit co-operative institutions affiliated to the bank.

Now farmers and depositors who have a Kisan Credit Card can avail of the latest banking facility and ATM.

Bank chief executive officer and ex-officio secretary PN Yadav shared information about the financial position of the bank and expressed that the bank has made remarkable progress in 2020-21.

This year bank has witnessed an increase of Rs 201.65 crores in deposits and the total deposits of the bank stood at Rs 1156.22 crores. There has been an increase of Rs 103.80 crores in the appropriation of the bank this year he added.

The working capital of the bank is Rs 1853.43 crores and the funds of the bank is Rs 109.45 crores, the share capital of the bank has increased to 82.93 crores. The profit of the bank has been 1.86 crore in FY 2020-21.

Over Rs 290.14 crores have been disbursed by the bank since last year and 760.66 crores have been made available to farmers in the financial year seasonal agricultural operations loan at zero interest rate. In the FY 2020-21, the opening of the new building of the bank's branch Malhargarh and Kukdeshwar has been an achievement. The ex-chairman of the bank, Madanlal Rathore, shared information about the remarkable human work and innovation done by the bank through cooperatives.

Representatives of member organisations affiliated to the Mandsaur and Neemuch district of the bank's jurisdiction attended the meet.

Also Read: Madhya Pradesh: Man held for smuggling fake currency from Maharashtra

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