Press Release...

Terrific Turnaround of Bihar State Co-operative Bank

Established in 1914 the Bihar state co-operative bank has been lending its resources mainly in the agricultural sector .The CD ratio of the bank has been as high as 80:20.The bank has been running into profit all through but it had to face rough weather for some time during late nineties. In the year 2003-2004 the bank made a terrific turnaround and posted a record profit of Rs 114 crore. It wiped out the entire previous losses. The Bank again registered a net profit of Rs. 43 crore in the half year ending September 30,2004. All this was made possible by the bank's present MD K K Pathak, IAS who adopted a well planned strategy to achieve what was once unthinkable.The bank's work culture truly reflects that of a corporate culture. All its 14 branches have been computerized. The bank's ATMs installation scheme is on cards. So is Anywhere Banking Facility. The bank has currently adopted one time settlement scheme and 10% Cash Incentive Scheme for loanees and loan collecting agencies in agricultural sector. The bank's Daily Deposit Scheme has been very popular in Patna and it is contemplating to extend this scheme to other parts of the state. The bank pays higher interest rate to its depositors than what is offered by the commercial bank.It provides loan against the deposits on very attractive terms and conditions Truly,. Bihar State Co-Operative Bank is neighbor's envy and owner's pride.