Page 21 - BANKING FINANCE FEBRUARY 2016 ONLINE

CO-OPERATIVE BANK NEWS

CO-OPERATIVE BANK

NEWS

Co-operative banks should be given financial assistance Agrasen Coop Bank to

P Balakrishnan, general secretary, All "Co-operative banks are larger in num- open 3 more branches
India Co-operative Bank Employees ber than the commissioned banking sys-
Federation is of the view that "Due to tem. Even after that our resources and Agrasen Co-Operative Urban Bank is
political benefits of the leaders, co-op- deposits are one-tenth of the banks on expansion mode as it is set to add
erative banks in our country three more branches by March this
are still struggling for their that are operational in In- fiscal taking its network of branches
existence". dia. Financial assistance is to seven.It is a leading co-operative
extremely important for bank in Hyderabad.
Balakrishnan,also said, "No- the banks to function prop-
body is coming forward for erly. The primary co-opera- Pramod Kumar Kedia, Chairman of
the revival of co-operative tive banks and rural devel- Agrasen Bank, in a statement said,
banks in India. State government opment banks in state must be encour- “We at Agrasen Bank have set a tar-
should evolve policies if the bank is fac- aged so that they will become more ag- get of an additional Rs. 200 crore
ing losses." gressive in their operations," he added. business during this financial year.
We have designed an intensive cam-
Janata Sahakari Bank launches RuPay Debit Card paign and are optimistic about
achieving the target.”
The Janata Sahakari Bank has recently launched the RuPay Debit Card which
facilitates the customers to make payments without car- The bank closed last financial year
rying money. RuPay Debit card can be used as an ATM Card with a turnover of Rs. 412.58 crore
at all ATMs all over India and can be swapped for purchases and first nine months this fiscal
at any of the POS terminals. It can be used at Restaurants, ended December 31, 2015, with Rs.
Malls and Shops, to make online payments of Electricity 431 crore. By the end of the next fi-
nancial year (2016-17), the bank is
Bills, Telephone Bills etc. It is easy and safe to use and can be utilised all over targeting a turnover of Rs. 750
India. crore, which would make it eligible
to become a scheduled bank.
Nagpur Nagarik Sahakari Bank has takes over the
AK Goyal, CEO of Agrasen Bank, said,
Dadasaheb Co-operative bank “The bank aims to mobilise new ac-
counts and increase its deposit base
Nagpur Nagarik Sahakari Bank has taken-over the Dadasaheb Co-operative bank while facilitating new loans. These
of Dondaicha Ltd of Dondaicha having 12 Branches, and all branches of the include vehicle and other business
erstwhile bank have started banking operations. Nagpur Nagarik Sahakari Bank loans and instant loans for women
is a member of Banking Codes and Standards Board of India (BCSBI). The bank entrepreneurs and start-ups.”
is also empanelled with UIDAI to receive Central & State Government Scheme
Benefit and has been given the membership of RTGS & NEFT recently.

BANKING FINANCE | FEBRUARY | 2016 | 21

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