{"id":1489,"date":"2020-06-19T00:41:31","date_gmt":"2020-06-19T00:41:31","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=1489"},"modified":"2020-06-19T00:41:31","modified_gmt":"2020-06-19T00:41:31","slug":"rupee-co-op-bank-reports-profit-of-rs-19-55-crore","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=1489","title":{"rendered":"Rupee Co-op Bank reports profit of Rs 19.55 crore"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1996112\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-284.jpg\" alt=\"Till March 2020, the bank paid Rs 355.23 crore to 89,873 depositors under hardship scheme as directed by RBI.\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1996112\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-284.jpg\" alt=\"Till March 2020, the bank paid Rs 355.23 crore to 89,873 depositors under hardship scheme as directed by RBI.\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1996112\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-284.jpg\" alt=\"Till March 2020, the bank paid Rs 355.23 crore to 89,873 depositors under hardship scheme as directed by RBI.\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/06\/1-284.jpg 660w, https:\/\/images.financialexpress.com\/2020\/06\/1-284-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/06\/1-284-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/06\/1-284-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/06\/1-284-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/06\/1-284-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/06\/1-284-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">Till March 2020, the bank paid Rs 355.23 crore to 89,873 depositors under hardship scheme as directed by <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a>.<\/span><\/figure>\n<\/div>\n<p>Rupee Co-operative Bank, currently under all-inclusive directions of the Reserve Bank of India (RBI), has earned an operating profit of Rs 19.55 crore for FY19-20.<\/p>\n<p>Administrator Sudhir Pandit said the bank\u2019s statutory audit for FY19-20 was completed recently and no adverse remarks were reported.<\/p>\n<p>The bank has made a total recovery of Rs 15.40 crore during this period and reported total deposits of Rs 1,289.72 crore and loans of Rs 298.50 crore. The bank has around 5 lakh depositors and 35 branches across Maharashtra. During the last four years when the current administrative board assumed office, the bank has made a total recovery of Rs 258.10 crore. The accumulated losses came down to `645 crore till March 31, 2020, from Rs 665 crore in the corresponding period of the previous year.<\/p>\n<p>The bank has made the operating profit by cutting its staff strength significantly and curtailing its administrative expenses by around Rs 60 crore since 2013. The treasury income of the bank has made sizable contribution towards the profit, Pandit said.<\/p>\n<p>Till March 2020, the bank paid Rs 355.23 crore to 89,873 depositors under hardship scheme as directed by RBI.<\/p>\n<p>A joint proposal for the merger of Rupee Co-op Bank with MSC Bank, mutually agreed upon by both the banks and envisaging \u2018no loss\u2019 to the depositors, has already been submitted to RBI.<\/p>\n<p>Pandit said the merger proposal is currently under scrutiny and evaluation of the central bank. \u201cThe bank is following up with the Reserve Bank and also the government for expediting the merger. It has requested RBI to undertake an annual financial inspection for FY19-20 at the earliest,\u201d he said.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/rupee-co-op-bank-reports-profit-of-rs-19-55-crore\/1996105\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Till March 2020, the bank paid Rs 355.23 crore to 89,873 depositors under hardship scheme as directed by RBI. Rupee Co-operative Bank, currently under all-inclusive directions of the Reserve Bank of India (RBI), has earned an operating profit of Rs 19.55 crore for FY19-20. Administrator Sudhir Pandit said the bank\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1490,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-1489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/06\/1-284.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/1489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1489"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/1489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/1490"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}