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Chairman's Message

Respected Members,

On behalf of the Board of Directors, I cordially & warmly welcome you all, at the 68th 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 2018 – 19.

I feel honored to place before you all, the Audited Accounts as well as the Annual Report of the Bank for the financial year 2018 – 19.

Friends our Bank has completed 68 successful years of continuous progress and has stepped in to its 69th year of prosperity and progress.

I now take you through the highlights of the performance of Bank for the year 2018 – 19.

Annual Accounts:

The statement of Annual Accounts for the year 2018 – 19 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.


Even in this competitive market, the Bank has shown Profit of Rs. 5.36 Crores (Before Income Tax) during the Financial Year 2018 – 19.

Share Capital:

Total Share Capital stands at Rs. 6.41 Crores as on 31.03.2019 and the same is held by 9866 shareholders.

Reserve Fund:

Total Reserve fund and other reserves stand at Rs. 50.12 Crores as on 31.03.2019.


The financial year under review commenced with total deposit of Rs. 245.63 Crores as on 01.04.2018 and reached Rs. 250.24 Crores on 31.03.2019, i.e. a growth of Rs. 4.61 Crores during the year.

Loan Advances:

Loan 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. 98.30 Crores as on 31.03.2019. 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 has also gone down and it now stands at Rs. 2.32 Crores i.e. 2.36 % of total Loans and Advances as compared to 2.60% last year. 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.


As per the norms stipulated by the Reserve Bank of India, all Co-operative Banks are required to maintain CRR (Cash Reserve Ratio) @ 4 % of NDTL (Net Demand & Time Liabilities) and SLR (Statutory Liquidity Ratio) @ 19.50 % to 19.25% 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 @ 4.39 % and 61.09 % 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 31.03.2019 is Rs. 310.17 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 29.45 % at the end of financial year under report.


This year also, a dividend at the maximum rate permissible under the Gujarat Co-Op. Societies Act 1961 viz 15% (Pro-rata) has been recommended by the Board of Directors. Total amount of dividend comes to Rs. 92.84 Lakhs.

Deposit Insurance Premium:

Insurance premium on Deposits for the year amounting to Rs.29.08 Lakhs has been paid by the Bank timely to the Deposit Insurance and Credit Guarantee Corporation of India (DICGC).

Technology Development:

I 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 is also available at the Bank. ATM, Net Banking (view only) & Mobile Banking facilities will be introduced shortly.

Welfare Activities and Programmes for Valued Shareholders:

  • The Bank has implemented a scheme to sponsor Full Body Medical Checkup package for senior citizen members of the Bank.
  • 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 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. 2018-19 was Rs. 1.65 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 the C.C.T.V. cameras for enhanced safety of valued Customers and Share Holders at both the branches of the Bank, covering outer area also.

Vote of Thanks

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 District Registrar Co-op. Societies – Bhuj, The Gujarat State Registrar of Co-operative Societies – Gandhinagar and Various Banking Institutions such as SBI, CBI, 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.

Shri Prem S. Lalwani