Matrabhoomi Co-op Society Plans Conversion to Co-Op Bank

News From Rons Bantwal
Daijiworld Media Network—Mumbai (RD/CN)

Mumbai, Aug 16: The annual general body meeting of the Matrabhoomi Co-operative Credit Society Limited, was held on Wednesday, August 13, at the Bunts Bhavan auditorium, located in Kurla (East). Sponsored by the Bunts Association of the metro, the meeting was chaired by Shivaram G Shetty, chairman, Matrabhoomi Society.

Shetty informed the gathering that efforts are underway to convert the society into a co-operative bank in accordance with Reserve Bank of India norms. The society has secured deposits to the tune of Rs 50 lac this financial year, owing to the support of customers and shareholders, he said. 

He announced the opening of a branch at Thane in the imminent future. Shetty also declared a 11 percent dividend to shareholders. Deputy chairman Tokoorguttu Bhaskar Shetty, honorary secretary K D Shetty, honorary treasurer and chartered accountant Karunakar A Shetty, and Bunts Association vice-president Harish Shetty, were present on the dais.

Directors Sudhakar S Hegde, Sitaram M Shetty, chartered accountant Sadashiv B Shetty, B Shekar Shetty, K Vishwanath Shetty, K Raviraj Hegde, Sujay R Shetty, Anand P Shetty, Dr Prabhakar Shetty, B Harish Vasu Shetty, Santosh M Javandale, Bhujanga M Shetty, Dr Sunita M Shetty, B Vivek Shetty, chartered accountant I R Shetty, Padmanabha S Payyade, chartered accountant Shankar B Shetty, Jaya N Shetty, Santosh D Shetty, Vijay Kumar Shetty, Lata P Bhandary, N Vivek Shetty, Gopal Y Shetty, Vishwanat S Hegde, Sanjeev M Shetty, and B R Shetty, as well as a large number of shareholders were present on the occasion.

Society assistant general manager S S K Sorappa, senior manager Mallika P Shetty, accountants Pratima U Shetty, and debt collection manager V Narvekar were also present. K D Shetty presented the annual report while chartered accountant Karunakar A Shetty talked about the annual budget. I R Shetty and Company, chartered accountants, were appointed  external auditors for a one year term.


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Title: Matrabhoomi Co-op Society Plans Conversion to Co-Op Bank

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