4-th Annual General body Meeting of Kerala Bank
The 4-th Annual General Body Meeting (AGM) of the Kerala State Cooperative Bank (Kerala Bank) was held at Al Saj Convention Centre at Kazhakkottam in Thiruvananthapuram on 26 September, 2024.
Bank president, Sri. Gopi Kottamurickal informed the gathering that the Kerala Bank, which is having deposits up to 67,987.87 crore and total business of Rs 1,16,582.24 crore as of now, is capable of implementing the disbursal of disbursing dividends to PACS and Urban banks, who are its A-class members, next fiscal. The AGM also decided to withdraw the Byelaw Amendment regarding withholding of share of A-class members.
The Bank has disbursed a total of Rs.48,603.43 crore as loans especially to MSME sector, agriculture and agri-allied sectors without differentiating urban/rural areas. The Bank president also informed the AGM that the Bank has sanctioned Rs 89.50 crore to as many as 17 PACS for increasing their business under the package to revive those PACS which are likely to turn into loss.
Kerala Bank has disbursed Rs 436.83 crore under NABARD assistance under the PACS as MSC which aims at converting Primary Agricultural Credit Societies (PACS) into Multi Service Centres. Of these, a total of Rs.200 crore was distributed for 1 per cent interest under the Agricultural Infrastructure Fund (AIF) Scheme. The Bank has taken a decision to sanction AIF loan, aimed at helping agricultural progress, to individuals also.
Bank has constituted a special consortium to help export the products of PACS. Kerala Bank, which boasts of all modern banking services including UPI like any commercial bank, does not level any charges or insist on minimum balance limit for opening an account.
The AGM also unanimously approved the step to write off the loans of those affected by landslips in Chooralmala and Mundakai areas in Wayanad district, which is served by the Chooralmala branch.
Almost 1300 representatives from the member societies participated in the AGM.
Bank president, Sri.Gopi Kottamurickal presided over. Vice president welcomed the gathering. Chief executive officer, Sri.Jorty M Chacko presented the Report on the activities of FY 2023-24.
Secretary, Department of Cooperation, Srimathi. Veena N.Madhavan, IAS, Registrar of Cooperative Societies (i/c), Sri.Jyothiprasad, Board of Management (BoM) chairman, Sri.V.Reveendran, Directors, BoM members, Chief General Managers, Sri.Roy Abraham and Sri.A.R.Rajesh, General Managers participated. Director, Adv.S.Shajahan proposed the vote of thanks.