Reports and pics by Rons Bantwal
Daijiworld Media Network – Mumbai (RD)

Mumbai, Jul 30: The eleventh annual general meeting of R S Co-Op Bank was held at GSB Seva Mandal Guru Ganesh Prasad auditorium located at Bhukailas Nagar, Sion (East) on Sunday July 29 morning.

The meeting was presided over by bank chairman, Sadanand D Nayak   Deputy chairman D S Nayak and other directors were present.

Discussions on balance sheet, appointing auditor, distribution of dividend and merging the bank with other bank was held.  N K G S B Bank ex chairman P N Shanbagh, S V S Bank ex CEO G V Masoorkar, Prabhakar Borkar and others expressed happiness over the efficiency of the chairman, Sadanand Nayak for achieving maximum progress.

Chairman Sadanand D Nayak while speaking on the occasion exclaimed over not raising any queries during this annual general body meeting.  Moreover, he emphasized the transparency in the bank affairs was the testimony, in this regard.  Further he said that the bank has been growing rapidly with the trust of bank depositors.  The bank has the credit of completing successful ten years.  The decennial celebrations of the bank will be held at Yashwant Natya Mandir, Mahim (West) on August 11. 

The bank remains grateful to the depositors, shareholders and customers for their cooperation.  He has announced bonus of one month salary to the bank staff, 11 per cent dividend to the shareholders and 10 per cent annual interest to the depositors.  The bank is capable of taking over any small bank.  

He has briefed the MoU signed with Bajaj Allianz for marketing their life insurance products, recently.  There are plans to introduce Any Branch Banking shortly.