Udupi Co-operative Town Bank has plans to introduce ATM facility to its customers.
For the purpose the Bank will soon initiate talks with any of the public sector banks for having tie ups with them, said Town Bank president K Krishnaraj Saralaya.
Speaking at a press conference Saralaya announced introduction of on line service to its customers in the main branch, Doddanagudde and Kinnimulky branches. They have plans to introduce the 8 am to 8 pm working hours at its branches, he said.
Udupi Co-operative Town Bank, Ltd, having a working capital of more than Rs 37 crore at the end of March 31, 2006, has gained a net profit of Rs 42.71 lakh. The bank has declared a dividend of 14 per cent.
Founded in 1912 as a co-operative society by Haji Abdulla Saheb it was converted into a bank in the year 1941 and later brought under the control of the Reserve Bank of India in the year 1981.
Krishnaraja Saralaya said that the bank has 6350 members with a share capital of Rs 104.89 lakh. The bank has mobilised deposits to the tune of Rs 28.67 crore.
During the year 2005-06, the bank has advanced Rs 31.16 crore as loans. Out of this Rs 30.16 crore has been recovered.
The bank has kept Rs 2.87 crore as its Reserve Fund and invested Rs 11.02 crore. The bank has maintained its NPA at 6.40 per cent and aims to reduce the NPA to 5 per cent in the coming year.
By considering the stablity, profitablility and punctual maintenance of cash reserve and liquid assets and prompt submission of RBI returns, the Reserve Bank of India has awarded ‘Grade One Bank’ among the four grades.
After considering its profitability and consistency the Co-operative department of Government of Karnataka has appointed an Assistant Director of Audit for its audit and they have awarded ‘A’ grade in the audit classification.
Vice President of the Bank U K Raghavendra Rao, directors K P Madhyastha, P Raghavendra Bhat, H N Ramakrishna Rao, P V Shenoy and chief manager of the bank B V Lakshminarayana were present at the press conference.
For the purpose the Bank will soon initiate talks with any of the public sector banks for having tie ups with them, said Town Bank president K Krishnaraj Saralaya.
Speaking at a press conference Saralaya announced introduction of on line service to its customers in the main branch, Doddanagudde and Kinnimulky branches. They have plans to introduce the 8 am to 8 pm working hours at its branches, he said.
Udupi Co-operative Town Bank, Ltd, having a working capital of more than Rs 37 crore at the end of March 31, 2006, has gained a net profit of Rs 42.71 lakh. The bank has declared a dividend of 14 per cent.
Founded in 1912 as a co-operative society by Haji Abdulla Saheb it was converted into a bank in the year 1941 and later brought under the control of the Reserve Bank of India in the year 1981.
Krishnaraja Saralaya said that the bank has 6350 members with a share capital of Rs 104.89 lakh. The bank has mobilised deposits to the tune of Rs 28.67 crore.
During the year 2005-06, the bank has advanced Rs 31.16 crore as loans. Out of this Rs 30.16 crore has been recovered.
The bank has kept Rs 2.87 crore as its Reserve Fund and invested Rs 11.02 crore. The bank has maintained its NPA at 6.40 per cent and aims to reduce the NPA to 5 per cent in the coming year.
By considering the stablity, profitablility and punctual maintenance of cash reserve and liquid assets and prompt submission of RBI returns, the Reserve Bank of India has awarded ‘Grade One Bank’ among the four grades.
After considering its profitability and consistency the Co-operative department of Government of Karnataka has appointed an Assistant Director of Audit for its audit and they have awarded ‘A’ grade in the audit classification.
Vice President of the Bank U K Raghavendra Rao, directors K P Madhyastha, P Raghavendra Bhat, H N Ramakrishna Rao, P V Shenoy and chief manager of the bank B V Lakshminarayana were present at the press conference.
No comments:
Post a Comment