Sree Subramanyeswara Co-operative Bank Limited to celebrate 50th Anniversary. Karnataka governor Honourable Sri.Thawar Chand Gehlot to inaugurate Bank’s Golden Jubilee function on June 23, 2024.
Sree Subramanyeswara Co-operative Bank Ltd., one of the best Co-operative Bank in Karnataka and completed 50 years successfully catering to the needs of customers, from lower and middle class families, is said to celebrate its Golden Jubilee on 23 June, 2024. Karnataka Governor Honourable Sri. Thawar Chand Gehlot will inaugurate the Bank’s Golden Jubilee Celebration to be held at Bangalore Palace Grounds.
Speaking to media persons on the successful journey of Sree Subramanyeswara Co-operative Bank Limited, Dr. K M Rangadhama Setty, Founder and President, Sri. D R Vijayasarathi, Vice President of the Bank have said Chief Minister Sri. Siddaramaiah, Minister for Co-operation Sri. KN Rajanna, Minister for Parliamentary Affairs Sri. H K Patil, Member of Parliament Sri. Thejaswi Surya, Member Legislative Assembly Sri. Uday B Garudachar, officials of Co-operative Department alonw with other prominent personalities will attend the Golden Jubilee Celebration. The said Sree Subramanyeswara Co-operative Bank Limited has been giving importance to the customers welfare by maintaining the financial discipline as per the Reserve Bank of India guidelines. The Bank established in 1971 has been working for the benefit of lower and middle class families by providing loans. As on date, the bank has nine branches in the city. The specialty of the Bank is earning profit from day 1 and has earned a whooping Net Profit of Rs.8.83 Cr.for the financial year 2023-24. The bank has the privilege of declaring 25% dividends to shareholders for 7 consecutive years from 1994-95.
They said the bank has been working as per the Reserve Bank of India’s guidelines. As per the Gross Non-Performing assets less RB’s guidelines, a well managed bank has to maintain than 10% and the Net NPA at 6%. They said the bank has strived hard and maintained its Gross. NPA at 17.64% Net NPA at 3.50%.
As per the guidelines of Reserve Bank Of India, the bank need to maintain 10% Capital Risk Adequacy Ration (CRAR), the CRAR of Sree Subramanyeswara Co-operative Bank Ltd., as on 2023-24 is 26.61% far more than the prescribed limit.
The Bank has been providing Free Group Personal Accident Insurance of Rs.1,00,000/- to all its members who are availing loan facilities and Government of Karnataka sponsored Yashaswini
Arogya Yojana Scheme, to all its members. Bank is providing financial assistance upto Rs. 10,000/- to its members who have undergone surgical treatment and terminal diseases like cancer, heart surgery, kidney failure. It is also granting Rs. 10,000/- to the nominees of the deceased members of the bank. To encourage the children of the members of the bank, it is awarding Prathibha Puraskara to the children who excel in their academics.
The bank has 34325 members, 60341 customers, Rs. 94.2 Cr Own Funds, Rs.325.22 Cr. Deposits. It has disbursed loans worth Rs.189.43 Cr and the bank has the working capital of Rs.428.18 Cr. Bank has been classified under “A” category in audit classification.
The Directors of the Bank are CA. Venkatachalapathy BL, Sri. P Rudramurthy, Sri. Sathyamurthy, Sri. Nanje Gowda, Sri. MK Suresh Babu, Sri. K Ravi, Sri. P K Ravindra, Sri. H Maruthi, Smt. Mahalakshmi, Smt. Annapurnamma, Smt. Jayalakshmi G Totager, Sri. S A Nagabhushan, Sri. M C Palanethrappa, Incharge General Manager, Sri. K N Krishnaiah Setty, Full Time Advisor of the Bank of Sri. B R Nagaraja were present on the occasion.
The Bank has branches at V V Puram Branch (Head Office), Avenue Road, Vijayanagar, Subramanyanagar, Padmanabhanagar, Kacharakanahalli, Yeshwanthapur, Nagarabhavi and Konankunte.
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