Gadchiroli Dec. 18 (District Correspondent) Gadchiroli District Central Cooperative Bank (GDCCB) has been selected for the prestigious Banco Blue Ribbon Award. the for the first place at the national level in the deposit growth category of Rs. 2,500 to Rs. 3,000 crores. The award has been announced for the ninth consecutive year to the GDCCB which will be presented at Lonavala on 28th January 2025.
The Banco Blue Ribbon Award is given every year to encourage the work of District Cooperative Banks and Urban Cooperative Banks that strengthen the cooperative sector in the country. In the category of 370 District Central Cooperative Banks in the country, Gadchiroli District Central Cooperative Bank has been ranked first in deposit growth as well as the bank’s NPA ratio, C. R. A. R. etc. as per the financial criteria of Reserve Bank and NABARD.
The bank has qualified in the criteria as on 31st March 2024, the bank’s gross NPA is 1.30 percent. The Bank has been selected for this Award for the year 2024 at the national level by the Banco Committee for its outstanding performance in financial terms.
Earlier, the Bank was awarded the first award for excellent information technology in the years 2018, 2022 and 2024 by Banking Frontiers and also has been awarded the Banco Blue Ribbon Award for 8 consecutive years from 2016 to 2023.
As on March 31, 2024, the total deposits of the Bank were Rs. 2,087 crores, the total loans were Rs. 11,019 crores, the total business of the Bank had crossed the milestone of Rs. 3,706 crores, and the Bank is moving towards a business of Rs. 4,000 crores. The deposit growth of the Bank is increasing by 18 to 20 percent every year.
As on March 31, 2024, the Bank’s current account savings deposit ratio was 72 percent and it is the first District Central Cooperative Bank in India with the highest cash deposit ratio. The bank has recently been granted an internet banking license by the Reserve Bank of India, making it the first district central cooperative bank in Maharashtra to receive such a license.
