News and pics: Rons Bantwal
Daijiworld Media Network - Mumbai
Mumbai, Mar 7: The Maharashtra Urban Co-op Banks’ Federation Ltd (MUCBF) has hosted its Best Bank Award Ceremony 2016 for Urban Co-operative Banks in the state of Maharashtra on March 6 at Bharatiya Krida Mandir, Wadala.
Model Co-operative Bank Ltd has been awarded Best Bank award in the entire state of Maharashtra in the Rs 600 crore to Rs 1000 crore deposits category. The bank has also been awarded a merit certificate for completing 100 years in the field of co-operative banking.
The award ceremony was presided over by Subhashrao Deshmukh, minister of co-operation, marketing and textiles, Government of Maharashtra; Vidyadhar Anaskar, chairman of MUCBF; Anandrao Adsul, director of MUCBF and member of parliament along with other directors of the federation. The function was attended by senior management and directors from many co-operative banks. This award is another milestone for Model Co-operative Bank.
The award was received by Albert W D’Souza- chairman; William J Sequeira- vice chairman; William L D’Souza- general manager and CEO and Harold M Serrao- additional general manager at the hands of Subhashrao Deshmukh, minister of co-operation, marketing and textiles, Government of Maharashtra.
The bank has its roots in the Mangalorean Catholic Co-operative Credit Society Ltd, which was registered on April 26, 1916. It has completed 100 years of its existence on April 26, 2016. The bank has total deposits of Rs 875 crore and total advances of Rs 465 crore with a total business of Rs 1340 crore. The bank has a total of 21 branches which are fully CBS enabled and provide various services like ATM, POS, e-commerce, on-line statements, SMS alerts, personalised cheque books, pan card, Reliance Electricity Bill Collection, Bancassurance, RTGS/ NEFT, e-tax payment facility, cheque truncation system, direct clearing, direct benefit transfer scheme (LPG subsidy). The bank offers various deposit products. The bank has been offering a spectrum of financial services to different customer segments covering housing loans, vehicle loans, educational loans, business loans with special and lowest interest @ 11.25% pa. The bank has also received license for conducting NRE and FFMC (AD-II category) business.
The bank is proud to receive this award in recognition of its excellent services. The bank is constantly riding the path of progress.
The chairman, Albert W D’Souza and Board of Directors have extended their gratitude to all the shareholders, customers and well-wishers.