District Cooperative Central Bank Khargone Holds 75th Annual General Meeting, Passes ₹337.65 Crore Budget

Khargone (Madhya Pradesh): The 75th annual general meeting of District Cooperative Central Bank Khargone was held at Krishna Hotel and Resort under the chairmanship of the joint commissioner, cooperative and bank administrator, BL Makwana. Bank chief executive officer P S Dhanwal presented the audited financial statements for the year 2023-24 while approval for more or less expenditure was taken under the approved budget of the year 2023-24 and the budget of Rs 337.65 crore for the year 2025-26 was also passed. Dhanwal said that the bank has provided a loan of Rs 2944.17 crore to the farmer members through B-Pax at zero percent interest rate in the year 2023-24.

Depositors from the Khargone and Barwani districts continue to show trust in the District Cooperative Bank, which has led to a total deposit amount of Rs 2256.06 crore. The bank recorded a net profit of Rs 250.83 lakh as of March 31, 2024. It is noteworthy that the bank has consistently distributed dividends to member institutions since its inception. This year, a dividend of Rs 62.70 lakh was distributed. Under the PEC computerisation scheme of the central government, 181 out of 182 PECs have been regulated, ensuring transparency in the institutions' operations.

Addressing the meeting, bank administrator and joint commissioner of cooperation B L Makwana said that the bank is currently financially self-sufficient and continues to make steady progress. More than 4,000 new farmers have become members this year. Under the central government's 'Sahkar Se Samriddhi' scheme, 10 Jan Aushadhi Kendras have been selected in the Khargone, and Barwani districts and Farmer Producer Organisations (FPOs) have been established.

Makwana informed that restructuring efforts are underway to ensure that farmers receive more benefits through cooperative institutions. On this occasion, handicapped employee Anil Solanki, assistant teller at Pipalgaon branch was awarded for his excellent work. Bank and institution employees were also awarded for their excellent performance in various activities and retired employees were also felicitated.