Shree Gondal deposits jump up Rs 3 crore

Deposits of Shree Gondal Nagrik Sahakari Bank Ltd, a co-operative bank in Saurashtra, increased by Rs 3 crore to Rs 72 crore at the end of the current financial year. The bank's profit touched Rs 2.89 crore during the year.

Speaking at the bank's annual general meeting, Shree Jayantibhai Dhol, chairman, said the bank will soon open its branch at Rajkot, while a banking house worth Rs 1.50 crore is under construction in the city. The bank will also begin door-to-door services.

Recently the bank paid Rs 10 crore to its investors towards the encashment of their deposits in the Kamdhenu Fixed Deposit scheme.

The scheme, which has been withdrawn by the bank, had offered the deposited amount doubling after 4 years and 9 months. The bank is also set to launch a branch in Jasdan near Rajkot.

Dhol added that strict actions taken by the bank to recover non-performing assets has fetched good results for it.