Page 21 - Banking Finance December 2020

CO-OPERATIVE BANK NEWS

Co-Operative Bank

News

Janata Co-op Bank's Nizamuddin (East), New Delhi. "We are opment Infrastructure Ltd (HDIL). The
also looking to open more branches to bank has an exposure of over Rs 6,200
crosses Rs 270 cr biz attract more and more customers in crore to HDIL. The RBI has superseded

Janata Cooperative Bank has crossed a the coming days. We have applied for the board of the bank and has ap-
business mix of Rs 270 crore and two branches and are awaiting ap- pointed an administrator.
earned a net profit of Rs 1.71 crore in proval from RBI", added the MD of the
2019-20 financial year, informed P S bank. DCCB Chairman demands
Pathania, MD of the UCB.
More than 7000 shareholders are as- release of dues from SFC
"The business mix of the bank has in- sociated with the bank. In the last FY,
creased from Rs 265.43 crore to Rs the bank earned a net profit to the While addressing the meeting of Chair-
272.4 crore in 2019-20 financial year. tune of Rs 1.71 crore. Earlier it was Rs man of 23 District Central Cooperative
There is a slight decrease in deposits 1.58 crore", he noted. Banks (DCCB) recently, Bihar State
but the loans and advances substan- Cooperative Bank Chairman Ramesh
tially increased. PMC Bank seeks bidders Chandra Chaubey demanded that the
The deposits of the bank decreased for its reconstruction state government should provide
money from public sector banks at zero
from Rs 172.35 crore to Rs 171.70 or maximum 3 percent interest for
Punjab and Maharashtra Cooperative
crore whereas loans and advances purchasing paddy from farmers.
grew from Rs 93.08 crore to Rs 100.70 (PMC) Bank has invited interest from
crore in 2019-20 FY", informed P S potential bidders for the reconstruc- He demanded that the State Food Cor-
tion of the bank. poration should release the dues of Rs
Pathania.
Besides, the share capital of the bank "(The) objective of the process of invi- 18 crore immediately. PACCs have to
pay additional interest due to delay in
rose from 4.80 crore to Rs 4.92 crore. tation of EoI (expression of interest) is
to identify a suitable equity investor/ payment by SFC.
The reserves increased from Rs 13.36
group of investors willing to take over It was informed during the meeting
crore to Rs 14.62 crore as on 31st
management control so as to revive that the arrears of Ara DCCB are Rs 6
March 2020. In the Covid times, our
bank has reduced the interest rates on the bank and commence regular day- cr and that of Nalanda Central opera-
to-day operations," said the bank in its tive bank is 10 cr.
all loans and also planning to make
new plans to increase the business advertisement. The meeting was attended by Vaishali
which is affected due to the PMC Bank is under regulatory restric- Central Government Bank Chairman
coronavirus, he said. tions after the Reserve Bank of India VishundevRai, Muzaffarpur Central Coop-
(RBI) found out financial irregularities erative Bank President Amarnath
Pathania further asserted that the UCB
in its functioning, hiding and classifica- Pandey, Ara Central Government Bank
has a branch network of 5 along with
one extension counter at Hazrat tion of loans given to Housing Devel- President Satyendra Narayan Singh,

BANKING FINANCE | DECEMBER | 2020 | 21