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Chairman's Message

Respected Members,

Before proceeding with the regular business, I regretfully inform you that our Ex. Chairman Late Shri K. V. Ganwani, has left for his heavenly abode on 16.11.2020 after serving the Bank for 36 years. I request all those present to observe two minutes silence and pay our respects of Late Shri K. V. Ganwani.

I Parmanand G. Kripalani have been elected as regular chairman Board of Directors in place of Shri K. V. Ganwani w.e.f. 27.11.2020 and on behalf of the Board of Directors, I cordially & warmly welcome you all, at the 69th Annual General Meeting of the Bank. I feel honored to place before you all, the Audited Accounts as well as the Annual Report of the Bank for the financial year 2019 – 20.

Friends our Bank has completed 69 successful years of continuous progress and has stepped in to its 70th year of prosperity and progress. I now take you through the highlights of the performance of Bank for the year 2019 – 20.

ANNUAL ACCOUNTSThe statement of Annual Accounts for the year 2019 – 20 duly Audited along with Audit Report is placed before you for approval. As in the past, our Bank has attained ‘A’ grade in Audit in the current year also.

PROFIT: Even in this competitive market, the Bank has shown Profit of Rs. 5.97 Crores (Before Income Tax) during the Financial Year 2019 – 20.

SHARE CAPITAL: Total Share Capital stands at Rs. 6.54 Crores as on 31.03.2020 and the same is held by 9877 shareholders.

RESERVE FUND: Total Reserve fund and other reserves stand at Rs. 53.25 Crores as on 31.03.2020.

DEPOSITS: The deposits stand at Rs. 247.78 Crores as on 31.03.2020.

LOANS & ADVANCES: The Bank has taken care of the convenience and needs of all the Shareholders. The loan applications are disposed off promptly under various schemes without any caste or creed differences, in accordance with established rules and regulations of the Bank and at most competitive rates.

The Board of Directors has tried to introduce various schemes of advances as per valued suggestions of the Shareholders for granting Credit facilities to all sections of society at large. The total Loans and Advances, now stand at Rs. 100.59 Crores as on 31.03.2020. I am happy to inform you that the Bank has taken efforts to keep the NPA at minimum level and there is ZERO NPA (NET) at the end of this year also, which is on account of continuous efforts by the Bank Management & Staff as well as the response from the borrowers. The Bank’s Gross NPA stands at Rs. 4.32 Crores i.e. 4.34 % of total Loans and Advances. The Shareholders are requested to continue the timely repayment of their loan dues and avoid letting their account become NPA. They are also requested to give their valued suggestions for increase of Loans and Advances as per their needs.

INVESTMENTS: As per the norms stipulated by the Reserve Bank of India, all Co-operative Banks are required to maintain CRR (Cash Reserve Ratio) @ 4 % to 3 % of NDTL (Net Demand & Time Liabilities) and SLR (Statutory Liquidity Ratio) @ 19.25 % to 18.25% of NDTL. Our Bank has strictly observed these Guidelines and there is no default during the year. Our Bank’s average CRR & SLR have been @ 4.78 % and 65.43 % respectively. Thus, the Bank has invested its funds and maintained adequate liquidity as per RBI norms.

WORKING CAPITAL: The Working Capital of the Bank as on 31.03.2020 is Rs. 312.24 Crores.

CAPITAL RISK ADEQUACY RATIO (CRAR): As per the directions of the Reserve Bank of India, all Primary Co-operative Banks have to maintain the CRAR at 9.00 %. I would like to inform that your Bank has recorded CRAR at 32.90 % at the end of financial year under report.

DIVIDEND: To deal with the heightened uncertainty due to COVID 19 Pandemic, the RBI vide its circular No. DOR.BP.BC.No.29/21.02.067/2020-21 dated 04.12.2020, has directed all commercial as well as co-operative banks to conserve capital by not making any dividend payment on equity shares for financial year ended 31.03.2020. All members are requested to take note of it.

DEPOSIT INSURANCE PREMIUM: Insurance premium on Deposits for the year amounting to Rs. 25.10 Lakhs has been paid by the Bank timely to the Deposit Insurance and Credit Guarantee Corporation of India (DICGC).

TECHNOLOGY DEVELOPMENTI am pleased to inform you, that both the branches are on-line linked on CBS (Core Banking Solution), as such the Bank has offered the facility of operations of accounts “AT PAR” at Head Office / Branch Office as well as banking facilities on mobile also. The customers are getting more and more benefit of the same. The facility of RTGS, NEFT & IMPS is also available at the Bank. Internet Banking (view only) & Mobile Banking ATM / Debit Card facilities have been launched alongwith the Bank’s website.


  • The Bank has implemented a scheme to sponsor Full Body Medical Checkup package for senior citizen members of the Bank and 82 members were sponsored the package for a total cost of Rs. 98,400/- during the F.Y. 2019-20.
  • The Bank has introduced an Accident Insurance Scheme (in case of death by accident) covering a sum of Rs. 1,00,000/- for all of its valued shareholders (Individuals) from ages between 18 to 75 years (max) w.e.f. 01.03.2015, under the “Jyotirgamaya Akasmaat Vima Yojna” with The New India Assurance Co. Ltd. The Bank has also implemented Pradhan Mantri Suraksha Bima Yojna (PMSBY) & Pradhan Mantri Jivan Jyoti Bima Yojna (PMJJBY) schemes introduced by Central Government of India.
  • It has been the Bank’s endeavor to encourage the children of Shareholders in their academic pursuits. In this context, cash prizes and trophies are awarded every year to the meritorious students who secure highest marks in SSC and higher examinations. The Bank has a scheme of payment of scholarship to the children of shareholders, excelling in studies after SSC and higher level anywhere in India. Total Scholarship paid during the F.Y. 2019-20 was Rs. 1.64 Lakhs.
  • The management has provided Separate Special Counter for Senior Citizens. The Bank has also issued Identity Card to the Shareholders.
  • As usual, this year too, the Bank has significantly contributed and encouraged social, religious & other activities in the form of donation, prizes, advertisement, etc. for the benefit of the general public of Adipur- Gandhidham Township.
  • The management has Installed C.C.T.V. cameras for enhanced safety of valued Customers and Share Holders at both branches of the Bank, covering outer area also.
  • The Bank has contributed Rs. 1.11 lakh to the P.M. Care Fund for COVID 19 pandemic.


I take my privilege to thank all the honorable Shareholders, Depositors & Customers for the co - operation extended by them for the smooth working of the Bank.

Thanks to the Officials of the Reserve Bank of India, The Gujarat State Registrar of Co-operative Societies – Gandhinagar, The District Registrar Co-op. Societies – Bhuj and Various Banking Institutions such as SBI, CBI, BOI, BOB, HDFC, The GSCB etc, Federations, Virmati Software & Telecommunication Ltd - Ahmedabad & other Individuals for extending their full co-operation and direct or indirect assistance for the prosperity of the Bank.

Special acknowledgments on behalf of my colleagues on the Board and myself, to the entire team of dedicated Staff members of the Bank, who have worked tirelessly with me and my colleagues and extended their enthusiastic whole-hearted support for the strong base and bright future of the Bank.

 Thank you very much for your presence.

 Vande Matram !                                                                                   


                                                                                                                                                                                     (P.G.Kripalani)                                                                                                                                                                                              Chairman.


Shri Parmanand G Kripalani