Page 16 - Banking Finance September 2024

cent as on 31st March 2024", he noted.
He further added that, we are having
a network of nine branches but the
Reserve Bank of India has permitted
the bank to open three new branches
at Manikonda, Attapur and
Maredpally. The necessary action has
Ò»©­ been initiated and we will open it till

September, he informed.
Additionally, the Reserve Bank of India
has also permitted expansion of the area
of operation of the Bank to the entire
state of Telangana, underlined Prasad.
The Gross NPA of the bank stood at Rs
Vardhaman Co-op Urban bank CEO A.D.N.V Prasad while talking 10.21 crores and Net NPA at Rs 4.06
to this correspondent at his office in
Bank upbeat on RBI's nod Hyderabad. "Our bank is in FSWM cat- Crores. As on 31st March 2024, the

to open 3 branches egory and achieved a business mix of Gross NPA stood at 3.02% of advances
and net NPA at 1.22% of advances.
One of the leading UCBs of Telangana- Rs 860 crore as on 31st March 2024. The Bank has made a provision of Rs
Vardhaman (Mahila) Cooperative Ur- The bank earned a net profit of Rs 7.38 1.17 crores on Standard Assets as per
ban Bank is eying to achieve a business crore, which increased by 3.71 percent the RBI guidelines.
mix of Rs 1,000 crore by the end of the in 2023-24 FY", Prasad informed.
current financial year. The bank is also "The bank maintained a healthy CD RBI imposes penalties to-
planning to secure a gross profit of Rs Ratio of 64.55 percent as well as the
14 crore and maintain a 'Zero' net NPA bank's own funds increased from Rs talling Rs 36.50 lakh on
till 31st March 2025. 69.80 crore to Rs 72.58 crore. The five UCBs

The future plans were shared by the CRAR of the bank stood at 18.50 per- The Reserve Bank of India (RBI) im-
posed monetary penalties totalling Rs
36.50 lakh on five urban cooperative
Jalgaon Peoples Co-op Bank: Business grows but banks.
profit dips Shikshak Sahakari Bank in Nagpur was

Maharashtra based Jalgaon Peoples Cooperative Bank's (Multi State Sched- fined Rs 25 lakh, while the Cooperative
uled Bank) net profit dipped by Rs 4.53 crore in the 2023-24 FY. It came Bank of Rajkot faced a penalty of Rs 8
down from Rs 5.97 crore (2022-23) to Rs 1.44 crore as of 31st March 2024. lakh. The Maharashtra Nagari
Sahakari Bank, Nashik Jilha Mahila
The bank registered a growth in its total business, as it crossed more than
Rs 3000 crore. The business mix of the bank increased from Rs 2,836.41 Sahakari Bank, and Gandhidham Mer-
cantile Cooperative Bank were also
crore (2022-23) to Rs 3140.65 crore as of 31st March 2024.
among those penalized.
The Gross NPA of the bank is reduced to Rs 57.63 Crore (31/03/2023-
Rs.79.81 crore). The Gross NPA stood at 4.76% & Net NPA stood at 3.68%. The RBI also extended the period of
directions for Thodupuzha Urban Coop-
Besides, the own funds of the bank have increased by Rs 31.65 crore and erative Bank and Saibaba Janata
stood at Rs 260.69 crore. The rise is 13.82% compared to last year. Sahakari Bank by an additional three
The Capital to Risk Weighted Assets Ratio (CRAR) has increased from 13.27% months.
to 13.29%. The minimum ratio is 9% as required for CRAR by the Reserve Specifically, Shikshak Sahakari Bank
Bank of India. The bank has a network of 42 branches out of which 18 branch Limited in Nagpur was fined Rs 25 lakh
premises are owned by the bank. for failing to comply with RBI directions

BANKING FINANCE | SEPTEMBER | 2024 | 15