Annual General Body Meeting of UCB Rishikesh held

Rishikesh, June 22 (HS). The 24th annual general body meeting of Uttarakhand Co-operative Bank (UCB) Rishikesh was held on Saturday. In the meeting, bank chairman Chintamani Semwal welcomed the respected representatives, employees, officers and guests of the bank. He said that with the support of the 7259 shareholders of the bank, the bank is moving on the path of continuous progress.

Bank Chairman Chintamani Semwal requested the shareholders to open savings account in the bank, so that their dividend will automatically go to their account. If a member does not take his dividend for three years, it becomes forfeit after three years. He also gave a message to those account holders whose account is open in the bank, but they are not operating it. He said that if there is no transaction in their account for 10 years, their deposit amount goes to the Reserve Bank of India's DEAF account, so they should regularize their account so that problems can be avoided. He told that with the consent of all the members, 8.50 percent dividend has been announced to be given to the shareholders. The Chairman expressed gratitude for the cooperation of all the members, employees and officers while highlighting the progress of the bank.

Bank Secretary SS Rana informed that the bank has earned a gross profit of Rs 125.45 lakh in the financial year 2023-24. The net profit after all provisions has been Rs 88.69 lakh. In the same financial year, 02 new branches have been opened by the bank in Athoorwala and Banjarawala Dehradun and in the financial year 2024-25, 01 new branch of the bank is going to open soon in Dehradun. Presenting all the financial figures of the bank, the Secretary said that a budget of Rs 892.00 lakh has been kept for the financial year 2024-25, which has been happily approved by the House.

He said that the bank fulfills all the standards of financial soundness, all the facilities available in the bank are available in other commercial banks. Only our bank does not have mobile banking, the license of which will be taken from the Reserve Bank of India soon. The bank secretary said that the bank is approving loans up to Rs. 3.00 lakh within 24 hours and separate counters have been arranged for the elderly in the branches.