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Model Co-op Bank performs well on all parameters


With no impact of Covid-19 on its business, Maharashtra based Model Cooperative Bank has performed well on almost all the financial parameters in the 2019-20 financial year. Despite several challenges, the bank has succeeded in increasing its profits in 2019-20 compared to the 2018-1 9 FY.
In 2019-20 the bank earned a net profit of Rs 7.86 crore whereas in 2018-19 it was Rs 7.60 crore. The total business of the bank grew from Rs 1,582 crore to Rs 1,653 crore in the 2019-20 FY. The deposits of the bank increased from Rs 1022 crore to Rs 1064 crore whereas loans and advances rose from Rs 560 crore to Rs 589 crore in the 2019-20 financial year. ....

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Model Co-op Bank's Christmas gift; offers UPI Interface to mobile banking


On the eve of Christmas, Model Co-operative Bank introduced UPI – Unified Payments Interface to its mobile banking application. UPI Interface attracts the younger generations with features like Google Pay or Phone pe.
The interface was inaugurated at the Board of Directors meeting by the Chairman of the Bank, Albert W. D’Souza in the presence of directors including the Vice-Chairman William Sequeira.
With the introduction of the interface to its mobile app Model Co-op Bank has levelled with leading banks across the country in terms of offering banking services. This product will increase the bank ‘s appeal to the younger generation that want banking services on the tips of their fingers or touch of a screen, says a press release. ....

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