Rons Bantwal

Daijiworld Media Network - Mumbai

Mumbai, Aug 22: Bharat Co-operative Bank (Mumbai) Ltd held its 49th annual general meeting at Brijwasi Palace auditorium, Goregaon East, on Friday morning.

Chairman Suryakant J Suvarna, inaugurating the meeting by lighting the lamp along with the directors, said that despite global uncertainties, the Indian banking sector has demonstrated resilience, with steady credit growth and improved liquidity supporting better performance. He noted that RBI’s evolving policies have further strengthened co-operative banks, and Bharat Bank too has shown stable progress in the last financial year.

He pointed out that in the last quarter of the financial year, a false and malicious news report had unnecessarily mentioned Bharat Bank along with a few other banks, which negatively impacted deposit growth, business expansion, and profitability. “Even amidst these challenges, timely support from loyal customers and well-wishers helped the Bank recover swiftly and prove its resilience,” Suvarna said.

Suvarna, extending gratitude on behalf of the board of directors, management, and staff, thanked shareholders, customers, and well-wishers for their unwavering trust and support. “With the same confidence, we aim to set new milestones and shape the Bank into a trusted institution built on excellence,” he added.

He further said that the Bank has made reasonable progress in loan recovery, significantly reducing NPAs through continuous efforts. The overall NPA reduced to 6.53% and net NPA to 2.33%. The Bank is committed to adhering strictly to RBI regulatory guidelines, while focusing on business growth, recovering non-performing assets, strengthening cybersecurity infrastructure, and enhancing customer service through technology. “Bharat Bank is also showing special emphasis on quality loan growth in small loans and to weaker sections,” he said.

Vice chairman advocate Somnath B Amin, directors Bhaskar M Salyan, Gangadhar J Poojary, Chandrashekhar S Poojary, Ashok M Kotian, Mohandas G Poojary, Naresh K Poojary, Niranjan Lakshman Poojary, Santosh K Poojary, Dayanand R Poojary, Ganesh D Poojary, Narayan L Suvarna, Suresh B Suvarna, Asha R Banger, Jayalakshmi P Salyan, Albagan C Harijan, Gaurish R Kotian, Jayashree M Hejmadi and managing director & CEO Vidyanand S Karkera were present on the dais.

On behalf of shareholders, justice Shashidhar U Kapu, Shevantilal Chimanlal Shah, Prakashini Shenai, Kripal Singh, Mona Malhotra, Dr Satish N Banger and Manveer Singh Kaushal offered suggestions and wished for the Bank’s continued success.

The meeting was attended by governance board executive president Prajwal J Poojari, members Ashok K Kotian and Nityanand D Kotian, shareholders, customers, well-wishers, and senior officers including general managers Vishwanath G Suvarna, Satish M Banger and Janardhan M Poojari, along with branch heads.

Assistant manager Yashodhar D Poojari led the prayer. A silent prayer was observed for members and well-wishers who had passed away during the year. Vidyanand S Karkera welcomed and conducted the proceedings, while joint managing director Dinesh B Saliyan proposed the vote of thanks.

Suvarna also noted in his chairman’s speech that the Bank has consistently maintained its Capital to Risk Assets Ratio (CRAR) above RBI’s required levels. As on March 31, 2025, the CRAR stood at 14.14%, against the minimum required 12%, and further improvements are being pursued during the current financial year.