Page 22 - Banking Finance June 2023

ATM, SMS Service, Demat Facilities, Sahakari Bank Ltd., Satara and Na- Kale. This is the maximum net profit
mobile banking, to its customers with tional Cooperative Bank Ltd., Mumbai, earned up till now, in the history of the
a network of 58 branches. Maharashtra. Bank.
The Reserve Bank of India has imposed At the end of March 2023, the Bank's
a monetary penalty of Rs 7.50 lakh on business was more than Rs. 30700
UP Sahkari Gram Vikas
the Kanyakumari District Central Co- Crore which included Deposits of more
Bank earns highest profit operative Bank Ltd for non-compliance than Rs. 17600 Crore and Advances of
in 10 years with directions issued by RBI on trans- more than Rs. 13100 Crore. The Bank's
fer of eligible funds to Depositor Edu- Operating Profit stands at Rs. 514
Uttar Pradesh Sahkari Gram Vikas
cation and Awareness Fund (DEA Fund) Crore with Gross NPA at 4.80% and net
Bank earned a handsome net profit of
constituted as per section 26A read NPA at 1.74%
Rs 98.08 crore in the 2022-23 financial
with section 56 of the Banking Regu-
year, which is the highest in the last The Bank maintains its CRAR at
lation Act, 1949 (AACS) and for non-
ten years. Earlier i.e. in 2021-22, the 13.54%. The Bank has set new records
adherence with Know Your Customer
net profit was Rs4.91 crore. in the portfolio of Business, Deposit
(KYC) Direction, 2016.
Mobilization, Loan Disbursement, Loan
Besides, the Bank has disbursed a loan
Similarly, the apex bank imposed Rs Recovery, Net & Gross Profit in the Fi-
worth of Rs 270.67 crore to around
1.00 lakh (Rupees One lakh only) on
13,000 beneficiaries in the 2022-23 FY. nancial Year ending on March 31st,
Krishna Sahakari Bank Ltd., Satara (the
UP Sahkari Gram Vikas Bank recovered 2023 stated Chairman, CA Milind Kale.
bank) for contravention of directions
the dues of Rs 774 crore, which is Rs
issued by RBI on Maintenance of De-
178 crore higher in comparison to the Repco Bank crosses busi-
posit Accounts.
2021-22 FY.
ness mix of Rs 17,500 crore
This penalty has been imposed in ex-
Meanwhile, talking to Indian Coopera-
ercise of powers vested in RBI under Chennai based Repco Bank crossed a
tive correspondent, the bank MD Shri
the provisions of Section 47 A (1) (c) business mix of Rs 17,500 crore in the
R K Kulshrestha said, "We have per-
read with Section 46 (4) (i) and Section 2022-23 FY, registering a growth of 8
formed well on all the financial param-
56 of the Banking Regulation Act, 1949 percent. The bank earned a net profit
eters in 2022-23 FY and looking for-
(the Act), taking into account the fail- of Rs 67.42 crore in the current finan-
ward to perform better in future also.
ure of the bank to adhere to the afore- cial year.
We are also thankful to the State Co-
said directions issued by RBI.
operation Minister JPS Rathore, Coop- Sharing the figures with the Indian
erative Principal Secretary BL Meena, And, Rs 1.00 lakh (Rupees One lakh Cooperative, the Bank MD R S Isabella
Chairman Santraj Yadav, Additional only) penalty has been imposed on the informed, "the Bank performed re-
Banking Ms. Chandrakala, and other National Cooperative Bank Ltd., markably well across all business seg-
stakeholders associated with the bank Mumbai (the bank) for contravention ments. The total business of the Bank
for this remarkable achievement". of directions issued by RBI on Mainte- grew by 8% to Rs 17,746 crore as of
nance of Deposit Accounts. March 31, 2023".
RBI penalizes three co-op "The total deposits increased by 7% to
Cosmos Bank earns high-
Rs 9,527 crore and gross advances in-
banks including Kanyakumari
est ever profit creased by 9% to Rs 8,219 crore. The
DCCB During the Financial Year ending on Bank's Profit After Tax (PAT) for the
The Reserve Bank of India imposed a March 31st, 2023, The Cosmos Coop- year ending 31st March 2023 stood at
penalty on three cooperative banks. erative Bank Ltd., has earned a net Rs 67.42 cr. registering a growth of
These banks are Kanyakumari District profit of Rs 151 Crore and netted R 10.15%. The net worth of the bank
Central Co-operative Bank Ltd., 213 Crore Profit Before Tax (PBT) in- stood at Rs 829 cr. at the end of March
Nagercoil, Tamil Nadu, Krishna formed Bank's Chairman CA Milind 2023", She added.

20 | 2023 | JUNE | BANKING FINANCE