Page 22 - BANKING FINANCE JULY 2016
P. 22
CO-OPERATIVE BANK NEWS
NEWSCO-OPERATIVE BANK
Noble Co-operative Bank Shivalik Mercantile Co-op Bank positive about growth
shakes off charges of resi- Shivalik Mercantile Co-operative Bank aggregate deposits of Rs 805 crore and
is hopeful of crossing Rs 1,700 crore advances of Rs 600 crore. The bank is
dential project business in this finan-
cial year on account hopeful of crossing Rs
The CEO of Noida-based Noble Co- of increasing cus- 1,700 crore business
operative Bank V K Sharma has tomer base. The UCB has its foot print at the end of current
rubbished all the areas in Uttar Pradesh and Madhya financial year," it said in a statement.
charges leveled Pradesh.
against the bank Shivalik Mercantile Co-operative Bank,
by the buyers of In 2015-16, the bank's business stood MD and CEO, Suveer Kumar Gupta said
controversy-ridden at Rs 1,405 crore. "Growing steadily at that the firm is employing modern
residential project 38 per cent per annum, the bank re- technology to reduce transaction time.
Charms in Greater Noida. corded an increase in the number of its The bank operates through 21
customers also, while accumulating branches across Uttar Pradesh and
Sharma said, "The allottees refused Madhya Pradesh.
to pay to bank despite having taken
loan from us when the builder failed Pondicherry State Cooperative Bank opens 3 ATMs
to deliver flats on time. Why bank
should suffer when it is the builder The Pondicherry State Cooperative Bank Limited has opened three ATM cen-
who has wronged". tres at the bank's branch offices in Bussy Street, Aiport
Road and Kathirkamam. Chief Minister V.
While majority of the buyers say that Narayanasamy inaugurated the ATM centres and
they have never visited Noble Bank Welfare Minister M. Kandasamy had distributed the
in their lives Sharma insists they in-
deed took loan from the bank. ATM cards to the customers.
Sources says that there are more These ATM centres have been opened taking into consideration the needs of
than 30 home buyers whose names the beneficiaries of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and
have been used to take loans in the Pradhan Mantri Suraksha Bima Yojana (PMSBY). The ATM centres will be opened
range of Rs 15-40 lakh from the same in all the enclaves of the Union Territory.
bank by the same builder. The fraud
was so obvious that it was detected Kakinada co-op Town Bank elects new president and
on the RBI radar too as one of the
buyers Pranab Bhakta was stunned vice-president
when he received a letter from the
Reserve Bank of India (RBI) in Sep- Chittoori Ravindra and Thota Mehar Seetharama Sudheer have been elected
tember for a loan he never took. unanimously as president and vice-president respectively of the Kakinada Coop-
erative Town Bank Limited. The election was held under the supervision of Di-
visional Cooperative Officer B.K. Durga Prasad and the elected body would be
in the office for five years.
22 | 2016 | JULY | BANKING FINANCE
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