• About Us
  • Advertise
  • Contact Us
  • DMCA
  • Privacy Policy
  • Follow on Google News
Thursday, January 26, 2023
  • Login
1Money Mania
  • Home
  • Corporate
  • Economy
  • Company News
  • Markets
  • Industry Updates
    • Aviation
    • Chemical Industry
    • Education & Training Industry
    • Engineering Industry
    • Fisheries in India
    • FMCG
    • Gems & Jewellery
    • Healthcare
    • Hospitality
    • IT and Services
    • Petroleum Industry
    • Pharmaceutical Industry
    • Railways
    • Software Industry
    • Telecommunications
    • Textile & Fashion Industry
    • Travel & Tourism
    • Auto Sector
  • Banking
  • Finance/Money
  • Start-ups
  • Others
    • Business Events
    • IPO News
    • Bollywood Business
    • Mutual Funds
    • MSME
    • Opinion
    • Real Estate / Infra
    • Technology
    • Young Entrepreneurs
    • Women Entrepreneurs
    • Ministry of Finance
    • Tribal Entrepreneurship
    • Kids Entrepreneurs
    • Marketing
    • Social Media
    • SocialPrenuers
    • Professional Sports
    • Entrepreneur Couple
    • Heritage Entrepreneur
    • Homepreneurs
No Result
View All Result
  • Home
  • Corporate
  • Economy
  • Company News
  • Markets
  • Industry Updates
    • Aviation
    • Chemical Industry
    • Education & Training Industry
    • Engineering Industry
    • Fisheries in India
    • FMCG
    • Gems & Jewellery
    • Healthcare
    • Hospitality
    • IT and Services
    • Petroleum Industry
    • Pharmaceutical Industry
    • Railways
    • Software Industry
    • Telecommunications
    • Textile & Fashion Industry
    • Travel & Tourism
    • Auto Sector
  • Banking
  • Finance/Money
  • Start-ups
  • Others
    • Business Events
    • IPO News
    • Bollywood Business
    • Mutual Funds
    • MSME
    • Opinion
    • Real Estate / Infra
    • Technology
    • Young Entrepreneurs
    • Women Entrepreneurs
    • Ministry of Finance
    • Tribal Entrepreneurship
    • Kids Entrepreneurs
    • Marketing
    • Social Media
    • SocialPrenuers
    • Professional Sports
    • Entrepreneur Couple
    • Heritage Entrepreneur
    • Homepreneurs
No Result
View All Result
1Money Mania
No Result
View All Result
Home Banking

Mahesh Bank Registers 7.48% Business Growth For The Financial Year 2020-21; Despite Challenging Times!

by Money Mania
September 29, 2021
in Banking
0
Share on FacebookShare on Twitter

Aggregate business grows to 4449.76 Cr., this year from the previous Rs ‘4140.06 cr. 

Hyderabad, September 29: Andhra Pradesh Mahesh Co-op. Urban Bank, a Multi-State Scheduled Bank functioning with a network of 45 branches covering 4 States, Telangana, Andhra Pradesh, Rajasthan and Maharashtra, has registered a profit (before tax), of Rs. 44.20 crores, for the FY 2020-21, as against Rs 58.70 crores recorded the year before and profit after tax stood at Rs 34.19 crores. The bank’s aggregate business increased by 7.48% from Rs ‘4140.06 crores previous financial year to 4449.76 Crores in the FY 2020-21. The Deposits registered a growth of 14.11%, increasing to Rs ‘2963.73 crore from ‘2597.15 crore in the previous year. Advances stood at ‘1486.03 crore as against ‘1542.91 crore in FY 2020-21. Owned funds increased to 367.91 crore from ‘336.88 crore registering a growth rate of 9.21%. The Book Value per share is at Rs 211.86 and the earnings per Share is ‘19.69. All the Branches registering profit except one. Despite adverse scenario, Bank could contain NPAs at Rs. 74.95 crore (Gross) 5.04%. Net NPAs continues to be “Zero.”

You May AlsoLike This

India’s Most Trusted Neobanking Platform Iyda Payments tied up with Freecharge for UPI Payments

India’s Most Trusted Neobanking Platform Iyda Payments tied up with Freecharge for UPI Payments

September 17, 2022
Easy Pay aims to bring banking services and easy credit access to the underserved MSME segment

Easy Pay aims to bring banking services and easy credit access to the underserved MSME segment

September 7, 2022

RBI’s PCA (Prompt Corrective Action) withdrawn from UCO Bank

December 15, 2021

The Board of Directors of the Bank declared a dividend of 20% on Pro-rata basis for the 2020-21, for the shareholders, at the 45th Annual General Body Meeting held on 29.09.2021. at its Head Office at Banjara Hills, Hyderabad, says Shri Ramesh Kumar Bung, Chairman, Andhra Pradesh Mahesh Co-Operative Urban Bank Ltd.

BUSINESS GROWTH PLAN FOR THE CURRENT YEAR:

In view of the disruptions caused by the COVID-19 on business & industry, Business goals for the year 2021-22 are, conservatively estimated, as under.

  • Aggregate business of 4800.00 crore
  • Profit before tax of 38.00 crore and
  • Reduction in Gross NPAs by 50%

EXPANSION:

Bank has applied to RBI for opening 3 more branches at Ichalkaranji & Latur in Maharashtra and Surat in Gujarat and one Extension counter in Bhilwara, Rajasthan and is awaiting RBI approval for the same.

HEALTH INSURANCE PRODUCTS: 

The Board has approved to enter a tie-up with Go Digit General Insurance Co Ltd., to market their Health Insurance plans under Master Policy, for a sum assured amount of Rs.2.00 lakhs, 3.00 lakhs, Rs. 5.00 lakhs & above. All the account holders can avail this Family Health Floater Plans facility at competitive prices.

Sri Umesh Chand Asawa, MD & CEO clarified the queries raised by the members present at the meeting on various issues concerning the financial statements. Number of shareholders raised the issue of alleged Shareholders Welfare Association represented by its President Sri Omprakash Modani about their filing baseless allegations and filing court cases stating that they are filing them on behalf of the Share Holders Association.  Shareholders present stated that they have not given any mandate to Sri Modani for filing such Court Cases.

Shareholders present at the meeting have unanimously resolved that the action of alleged Share Holders Association is against the interest of the bank and its President Sri Omprakash Modani is working for his selfish goal against the interest of the bank and damaging the reputation of the organisation.  As such on the appeal of shareholder present, the General Body unanimously resolved to take action against the President Sri Omprakash Modani and other Office Bearers of the Shareholders Welfare Association and remove them from the membership of the bank.

Tags: Mahesh Bank
Money Mania

Money Mania

Related Posts

India’s Most Trusted Neobanking Platform Iyda Payments tied up with Freecharge for UPI Payments
Banking

India’s Most Trusted Neobanking Platform Iyda Payments tied up with Freecharge for UPI Payments

by Money Mania
September 17, 2022
Easy Pay aims to bring banking services and easy credit access to the underserved MSME segment
Banking

Easy Pay aims to bring banking services and easy credit access to the underserved MSME segment

by Money Mania
September 7, 2022
Banking

RBI’s PCA (Prompt Corrective Action) withdrawn from UCO Bank

by Money Mania
December 15, 2021
Banking

Ezeepay to Launch Doorstep Digital Services in Rural Area

by Money Mania
June 17, 2021
Banking

In a First, National Cooperative Development Corporation (NCDC) Secures Euro 68.87 Million (Rs. 600 cr) Loan from Deustsche Bank

by Money Mania
April 14, 2021
  • Trending
  • Comments
  • Latest
Now our E-store India has become an international company

Now our E-store India has become an international company

November 1, 2022
Nilesh Jedhe –Cryptocurrency trainer and founder of Digicorp Pvt Ltd rising high by imparting trading knowledge

Nilesh Jedhe –Cryptocurrency trainer and founder of Arweave Digicorp Pvt Ltd rising high by imparting trading knowledge

June 4, 2022
Incomet Learning Private Limited, Incomet learning, Stock Entrepreneurs Program, Share market, Price Action Trading courses, financial education, Kanishk Gupta, Share market preparing Fundamental examination, Stock Market Training courses, stocks and tradings

Willing To Master Stock Market? Incomet Learning Program Is Here For You

June 6, 2022
“TruckGuru is All Set to Go Digital with its Online Truck Booking App”

“TruckGuru is All Set to Go Digital with its Online Truck Booking App”

June 13, 2022

PrivateCourt is all set to revolutionize the concept of Online Dispute Resolution

1

FTV brings their First Beauty Pageant to India

1

Maxworth Realty Reviews – Impact of Covid In Real Estate Sector

1

Nine Mantras for Happiness And Success

1
CIGNEX, Excellerent merge with Relevance Lab to form a global powerhouse in digital transformation & cloud services

CIGNEX, Excellerent merge with Relevance Lab to form a global powerhouse in digital transformation & cloud services

January 25, 2023
The Importance of SMM optimization in the digital world

The Importance of SMM optimization in the digital world

January 17, 2023
An Innovation that can change the concept of Road Transportation by using Fuel Burn Radiation Technology

An Innovation that can change the concept of Road Transportation by using Fuel Burn Radiation Technology

January 14, 2023
MetaDesign Solutions Recognized as Top App Development Company by DesignRush

MetaDesign Solutions Recognized as Top App Development Company by DesignRush

January 13, 2023

Categories

  • Agriculture & Allied Industries
  • Artpreneurs
  • Auto Sector
  • Aviation
  • Banking
  • Bollywood Business
  • Business Events
  • Chemical Industry
  • Company News
  • Corporate
  • Cryptocurrency
  • E-Commerce
  • Economy
  • Education & Training Industry
  • Edupreneur
  • Energy Sector
  • Engineering Industry
  • Entrepreneur Couple
  • Entrepreneurial Network
  • Finance/Money
  • FMCG
  • Gems & Jewellery
  • Healthcare
  • Heritage Entrepreneur
  • Homepreneurs
  • Hospitality
  • Industry Updates
  • Inspirational
  • Insurance
  • Interviews
  • Investments
  • IPO News
  • IT and Services
  • Kids Entrepreneurs
  • Marketing
  • Markets
  • Ministry of Finance
  • MSME
  • Mutual Funds
  • Opinion
  • Petroleum Industry
  • Pharmaceutical Industry
  • Professional Sports
  • Railways
  • Real Estate / Infra
  • Social Media
  • SocialPrenuers
  • Software Industry
  • Start-ups
  • Technology
  • Textile & Fashion Industry
  • Transport Business
  • Travel & Tourism
  • Tribal Entrepreneurship
  • Women Entrepreneurs
  • Young Entrepreneurs

Recent News

CIGNEX, Excellerent merge with Relevance Lab to form a global powerhouse in digital transformation & cloud services

CIGNEX, Excellerent merge with Relevance Lab to form a global powerhouse in digital transformation & cloud services

January 25, 2023
The Importance of SMM optimization in the digital world

The Importance of SMM optimization in the digital world

January 17, 2023

Calendar

January 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Dec    

Menu

  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Privacy Policy
  • Follow on Google News

1moneymania.in is a digital platform that brings you the news, articles, stories, success mantras and opinions of entrepreneurs from various sectors like Markets, Corporate Sectors, Industry, start-ups, finance, money, Banking, Technology, Real Estate, etc.

We are also highlighting the start-ups’ stories and encouraging the new and small entrepreneurs.

  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Privacy Policy
  • Follow on Google News

© 2022 Money Mania

No Result
View All Result
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Home
  • Privacy Policy

© 2022 Money Mania

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In