District bank to take deposits up to Rs 3,000 crore

Aurangabad, Sept 30: The Aurangabad District Central Cooperative Bank (ADCCB) has decided to increase its current deposits from Rs 2,200 crore to Rs 3,000 crore in the financial year 2021-22 at its 38th annual general meeting today. The meeting was held online. The bank has made a profit of Rs 4 crore this year and the staff should make every effort to increase it.

Executive director Rajendra Shinde presented the financial report at the outset. Chairman Nitin Patil reviewed the progress of the bank for the year 2020-21. It was decided to increase the loan limit up to Rs 15 lakh for individual borrower members. The loan limit will be increased from Rs 100 crore to Rs 200 crore. Provision was also made to disburse non-agricultural loans up to Rs 350 crore. Patil promised to implement Pokhara scheme in a transparent manner. ADCCB also has an imbalance of Rs 429 crore. The board of directors feels that the government should take appropriate decision in this regard as well. Patil expressed satisfaction over the fact that the bank had disbursed loans to more farmers than the target. Directors Jagannath Kale, Kiran Patil Dongaonkar, Dr Satish Gaikwad, Dr Manoj Rathod and Javed Patel and district deputy registrar Anil Kumar Dabshede were present. State minister for horticulture and bank director Sandipan Bhumre participated from Mumbai and minister of state for revenue Abdul Sattar from Dhule.