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Business EconomyPosted at: Aug 9 2022 4:01PM


AP Mahesh Cooperative Bank surpasses Rs 3,795 cr business mix : Bung

Hyderabad, Aug 9 (UNI) A.P. Mahesh Cooperative Urban Bank Limited Chairman Ramesh Kumar Bung on Tuesday said that the bank has surpassed the business mix of Rs.3795 crore and the owned funds of the bank crossed Rs 390 crore for the financial year ending March 31, 2022 by registering a profit of Rs 44 crore.
Speaking at the 45th foundation day celebrations of the bank here, Bung said that the bank, which was founded in 1978, is functioning with a network of 45 branches covering 4 States – Telangana, Andhra Pradesh, Maharashtra and Rajasthan with 19 ATMs.
He said that in today’s business, more particularly in banking, relies on IT to deliver innovative solutions and to solve complex business problems. It is a hot topic in the industry to accelerate digital transformation, since Technology has become an integral and strategic part of the country's banking sector. Cashless economy has provided a major boost for the sector's growth, he said.
The Bank has ambitious plans to introduce e-KYC facility Aadhar Pay, Bharat QR Code, Prepaid Payment Instruments, Artificial Intelligence Enabled BOT solution, Tab Banking & Loan origination System, the Chairman said.
Bung advised the staff to remain quick learners and re-learners throughout their life and move beyond their comfort zones to the areas of uncertainty and have to convert the challenges into opportunities suggested to cope up with the changing trends and develop the organization and develop a professional career.
Speaking on the occasion, Bank CEO and Managing Director Raghurama Shetty said that new technologies have emerged and play a pivotal role in the future banking and advised the staff to equip themselves with the latest developments in banking technology.
Mahesh Chandra Laddha, Inspector General of Police, Central Reserve Police Force, Southern Sector and Pramod Vijayvargia, General Manager, SIDBI, Hyderabad Regional Office have graced the occasion as Chief Guests.
Purshotamdas Mandhana, Senior Vice-Chairman, Laxminarayan Rathi, Vice-Chairman, all the Directors on the board, former directors, employees from various branches, executives have participated in the function enthusiastically.
Later, to commemorate the event, the Guests released the special issue of Hamara Prayas, a monthly magazine brought out by the bank.
The Guests have distributed the awards to the best performing branch managers, the employees participated in the Gold Loan campaign, the staff who completed 25 years of service in the bank and scholarships to the meritorious students of all cadres of staff of the bank.
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