MSCB makes outstanding progresss

Source: The Hitavada      Date: 11 May 2017 09:38:33

Business Bureau,

The Maharashtra State Co-operative Bank Limited (MSCB) had performed well in the last fiscal which ended on March 31, said Dr M L Sukhdeve, Chairman of the Bank while talking to the media on Tuesday. Dr Sukhdeve was in city to review the business potential of the region and conducted a meeting of his associates in the morning.

He said, “There was a 45 per cent growth in deposits in 2016-2017 as compared to the year-ago period.. The Vidarbha region made good progress. The deposits of Nagpur was Rs 59,676 crore i.e 48.4 per cent of the entire state, Amravati- Rs 11,634 crore with 9.44 per cent share and Akola- Rs 10,673 crore which was 8.23 per cent share to the total deposits. The total share of Vidarbha region in the deposits is 66 per cent.”

Dr Sukhdeve said, Vidarbha region disbursed loan to the tune of Rs 75,159 crore including Rs 37,866 crore (50.38 per cent) of Nagpur, Amravati disbursed Rs 7,017 crore and Akola- Rs 7,021 crore. The total disbursement or advances of the these three districts were 63 per cent.

The share of 11 District Central Co-operative Banks (DCCBs) in deposits was 10,521 crore or 10 per cent to the total deposits of the MSCB. Of 11 DCCBs, Amravati, Akola and Chandrapur were major contributors. “Vidarbha has a lot of potential and we are discovering lot of business opportunities,” he said. He said, it was high time that co-operative banks have to find new ways of banking and fulfill the needs of the customers. MSCB would launch new services to woo young generation. During the demonetisation drive, Nagpur Regional office made commendable job. It had exchanged notes of Rs 92 crore in Nagpur district and Rs 911 crore all over the State.

Dr Sukhdeve said, MSCB would help the bank to strengthen the co-operative movement in the State. MSCB would also provide agriculture loan to farmers and people from all sections of the society as per their requirement. “We will full support to DCCBs, UCBs and co-operative societies too,” he added.
Also present was Arun Muddeshwar, Regional Manager of the MSCB, Nagpur Regional office.