Rajkot Nagrik Sah Bank registers phenomenal growth of 46%
Huge profit is partly due to Atmanirbhar Gujarat Sahay Yojana
Rajkot Nagrik Sahkari Bank in Gujarat has stood out, netting a remarkable profit of Rs 129 crores and a total business turnover of Rs 8, 276 crores in defiance of Covid 19. The profit counts a whopping 46 percent higher than the profit of last year. This was revealed during the bank’s AGM.
As per the notes presented by the bank chairman Nalinbhai Vasa and the vice chairman Shailendrabhai Thakar, the bank’s total deposit stands at Rs.5,140 crore and total loan at Rs. 3,136 crore. The net NPA of the bank is negligible and will soon reduce to zero, claims the press release.
Gujarat based Rajkot Nagarik Sahakari Bank known as a “Large Bank of a Small Man” was one of the UCBs singled out by the state Chief Minister for its exemplary performance in implementing the Atmnirbhar Yojna.
A function was held recently for honoring its branches for their unprecedented achievements during the corona pandemic. It is said the bank has disbursed a total of Rs 522 crore to 38,000 small borrowers under the Atmnirbhar Yojna, says a press release issued by the bank.
Addressing the function, several leaders including Gujarat Chief Minister Vijaybhai Rupani said the bank has done a commendable job helping extremely poor people maintain their families, meet the costs of their medical treatment and several other expenses during the lockdowns.