Dear Members Brother and Sisters,
Greetings,
Staying in the tradition of stability, security and uninterrupted progress, our bank has completed 67 (Sixty Seven) years of its banking career on Date: 31st March 2023 end entered on 68 (Sixty Eight) year of Banking Faithfully. I Present to You the audited balance sheet and profit and loss accounts approved by the board of directors on Date: 31st March 2023. And briefly describe the overall progress of the bank.
The Bank has a share capital of ₹ 181.68 lakh, a reserve fund of ₹ 2113.23 lakh, a deposit of ₹ 14483.47 lakh, a loan of ₹ 7233.99 lakh, a net profit of ₹ 108.00 lakh and C.R.A.R is 14.67% . Last Year’s deposit of ₹ 14177.25 lakh, hase been increased by ₹ 306.22 lakh which shows the confidence of the depositors in the board of directors and the bank.
Member Help Scheme
Bank has Taken Insurance cover of ₹ 1.00 lakh for accident and accidental death of its members to help their family members in case of any emergency .
(Subject to the rules of the policy taken by the bank)
Distribution of Prizes to Student
The Bank Also works for the promotion of the educational sector, such as in Std-10 as well as Std-12 (Science stream and general stream) in the city of Mahuva to encourage the first, second and third place bright students. In the memory of shri Chandrasekhar Vasudevbhai Veliyat, every year the bank honors Student with Cash Vidhya Award and Certificate.
Financial Inclusion
The Bank Opens Savings Accounts with zero balance to students, lower class and governments benefit receiving customers, as well as benefit given by government can be credited directly to the customer’s account. The Bank opens Zero balance accounts for students above the age of 10(ten) years so that they can withdraw money from the account by their own signature. When Customer needs a bank account for a subsidy of LPG Gas, Our bank has opened as counter at the gas agency’s office, opened more than a thousand saving accounts and tried to help the people of mahuva as much as possible. And our bank described it’s a co-operative in the true sense. And small business holders can easily get loans at lower interest rate and easy processing method as possible. The bank offers special facilities to small investors as well as small loaner to get banking facility. In which personal loan to the members by the bank of ₹ 75,000.00 - Attempts have made to bring financial viability to small loaners. At present the bank is making a humble effort to help epidemic of corona virus by giving loans to the members in the “Atmanirbhar Loan Scheme” – (1) and “Atmanirbhar Loan Scheme” – (2).
Synchronization with Global Technology
The Bank has adopted new technology to provide the best banking to the customers of the bank to keep pace with the global technology and to keep pace with the current changes in the banking sector.
Such as….
(1). CBS - The Core Banking Solution is implemented in all three branches including the head Office of bank.
So that bank can deliver “Any Where – Any Branch Banking” to Customers. The bank strives to be
In tune with future banking technology and ensure that technology benefit delivers to all
Customers.
(2). SMS - Our bank has been providing SMS alert facility to its customers since the year 2009.
So That the customers gets information about his banking transactions.
(3). ATM/DEBIT CARD - Bank provides RuPay ATM cum Debit Card Facility to its Customers, which allows customer to use
More Than 2.5 lakh ATM terminals across India to withdraw Money and Rupay Enable POS Terminals across India to make Purchase.
(4). RTGS/NEFT - The Bank is Currently Offering RTGS/NEFT Facility to its Customers.
(5). E-Commerce - The Bank Has Started E-Commerce Service. Using which the customer can make all kinds of online Transections through ATM / Debit Card.
(6). Stamp franking - The Bank Provides Stamp Franking Service, so Peoples of Mahuva and Near by Facilitates with the services.
(7). IMPS - Our Bank has recently launched IMPS Facility. which can be used to instantly transfer money from one account to another.
(8). UPI - UPI facility has been launched by the bank. using which money was transferred quickly.
State-of-the-Art Market Yard Branch Building.
Bank’s “MarketYard Branch” State-of-the-Art Building as well as Mobile Application at APMC Mahuva has been inaugurated on 19th April 2018 with the blessings of Param Pujay Sant Shri Morari Bapu.
Reputation and Honor received by the Bank.
Our Bank has Secured Second position in Bhavnagar District by Gujarat State Co-Operative Union in the year 1994-95. Achieved First Place by Gujarat State Co-Operative Union in Bhavnagar District in the year 2007-08 and 2019-20. In the year 2007-08 Under Flood IT Scheme Bank has been Awarded with Certificate by the Gujarat Urban Co-Operative Banks Federation for Good Performance for Knowledge Revolution. In the year 2013-14 Our Bank has Secured the Second position among the banks which have done excellent work in Bhavnagar District. Also, in the year 2014 Bank has Secured Second Position in Gujarat among the banks which have the highest growth with deposits of ₹ 50.00 Crore to ₹ 100.00 Crore. Thus, the bank has earned a reputation for its excellent performance.
Social Responsibility.
During the Corona epidemic, masks were periodically distributed by the bank to the peoples and banners and posters were put up to raise awareness about the epidemic. In particular, free oxygen cylinders have been made available to needy patients.
Thankful Speech,
On This Occasion, I would like to express my heartfelt gratitude to all members, customers, well-wishers and staff members who have helped in the efficient management of the bank and helped the bank to take a new step of progress. I Would Also to Thank, The Reserve bank of India, Gujarat State Registrar, Bhavnagar District Registrar, Gujarat Urban Co-Operative Banks Federation-Ahmedabad, The Bhavnagar-Botad District Co-Operative Banks Association, The Saurashtra Kutch Urban Co-Operative Banks Federation-Rajkot and The Bank’s Affiliated Statutory Auditors, Concurrent Auditors, Legal Advisors, Valuers and Advocates.
In Particular, I Would like to thank all the directors of the bank for their support in all the decisions taken in the development of the bank.
With The Expectation of Cooperation,……. Thanking You ,……….
Shri Amishbhai H. Mehta
[ Chairmen shri ]
Shree Mahuva Nagrik Sahakari Bank Ltd
