Chairmans Desk

Honourable Members,
Namaskar !
I heartily welcome you all

I heartily welcome to all of you at this Annual General Meeting of The Kolhapur Urban Co-op. Bank Ltd., Kolhapur

It gives me great pleasure to place before you the 105 th Audited Annual Report, Balance Sheet and Profit & Loss Account for the financial year 2017-2018 on behalf of the Board of Directors of the Bank.

First of all, I sincerely thank to all the members of the Bank who have shown their confidence by re-electing us in the five yearly election held in the month of April 2017.

Chhatrapati Rajashree Shahu Maharaj, Late Bhaskarrao Jadhav (Minister in erstwhile princely State of Mumbai) and Late Dattatraya Narhar Kanerkar have nurtured and developed this bank. Whereas Late Advocate Shamrao Shinde has rededicate himself to their cherished ideals and to preserve rich heritage.

His inspiring message to us is that “Depositors Funds are to be utilised with great deal of care & responsibility. It can be achieved only with well thought business plan, efficient, dedicated and professionally profound officers, learned and experienced directors supported by customer friendly, modern technology, to overcome the stiff competition.”

In the previous financial year world economy has witnessed slow growth. Indian economy has also shown low progress in agriculture, construction, industrial and service sectors. However decline in the prices of crude oil in the world market has considerably benefitted to the Indian economy. To give boost to the Indian economy, and to control inflation rate, RBI has reduced Bank Rate, Repo Rate, Reverse Repo Rate, SLR to enable the banks to provide loan at low interest rate. However expected response is not received to the banks which has resulted in slow growth in bank business.

In the financial budget 2018-2019, Govt. of India has imposed further burden on banks by making modification in tax provision in respect of interest on fixed deposits. As per banking expert it may create adverse impact on banking business.

Business growth of all banks in Kolhapur District In the reporting year is declined by 4% to 5% over the previous year. Our bank is also not exception to it. However, for sustainable future business growth of the bank, Board has decided to set substantial annual targets of deposits, advances, profit and recovery. And committed to achieve it with planned efforts. I make an appeal to all members and customers of the bank to extend their full co-operation in our endeavour.

Customer service through modern technological devices has already been adopted by the bank. At present, our bank has started the Core Banking System,  Aadhar Card Based Payment System through Data Center of the bank, any time any where funds remittence facility through RTGS / NEFT,  Clearing payments through Cheque Truncation System, RuPay ATM cum Debit Card, SMS / Mobile Banking, Easy Access to any Bank’s ATM in the country. Many of our customers are availing these facilities. Now we propose to start Shopping Facility through ATM Card as well as Remittance of funds through Mobile Banking.

It is only due to your full co-operation we are able to face many challenges in the past and  in future also, with your active support, a sustainable development of the bank can be surely achieved.

I request you to accord your approval to 105th Annual Report, Balance Sheet, Profit & Loss Account and Annual Budget of the bank.

Jay Sahakar!

Umesh Baburao Nigade
The Kolhapur Urban Co-op. Bank Ltd., Kolhapur