Mumbai: Model Bank opens 19th branch at central suburb of Dombivali (E)

By Rons Bantwal
Bellevision Media Network

Mumbai, 17 Jul 2016: Model Co-operative Bank opened its 19th branch at Dombivali (East) here on Saturday July 16.

 

Thane district collector and magistrate Dr Mahendra Kalyankar inaugurated the new branch, while Fr Victor Dalmet, parish priest of Infant Jesus parish, Dombivali (West), here blessed the new premises.

 

 

The Bank chairman Albert W D’Souza in his welcome address stated that Reserve Bank of India has granted licenses to open 9 branches during the year and Dombivali (E) is the 7th one. The Bank will be expanding its network in western suburb of Bhayander (W) and Virar (W) to complete 21 branches by October 2016. 

 

He also stated that the Institution has completed 100 years of existence on 26.04.2016 He stated that with deposits of Rs 800 crore and a turnover of about Rs 1,250 crore the Bank is marching towards its goal of achieving Scheduled Status as the present limit of Demand and Time Liabilities to include any Co-operative Bank in the 2nd Schedule to the Reserve Bank of India Act is Rs 750 crore. Chairman said that the Bank has won 2 trophies for Best Bank as Financially Sound and Well Managed Bank awarded by the Brihan Mumbai Nagari Sahakari Banks’ Association and the Best Bank by the Maharashtra State Co-operative Banks Association. He said that the Bank is providing excellent Banking services to its customers and invited the people of the area to avail of the services of the Bank.  

 

The founder chairman John D’Silva in his address stated that the Bank being a Co-operative Bank is catering to the needs of the most common man and urged the members to avail of its products and services.

 

Fr Victor Dalmet in his address said he was privileged to bless the Branch premises of the Bank & wished the Bank success in its work.

 

The chief guest Dr Mahendra Kalyankar in his address stated that he recalled he had inaugurated the Mahim Branch premises of the bank 8 years ago and that the Bank has grown from its humble beginnings as a Co-op Credit Society and is growing exponentially with 9 branch expansions. He said he was pleased to be associated with the Bank and that there are great opportunities of banking with the masses and outlying areas of Thane District. He said he was pleased to welcome the Bank in the district as Collector of Thane particularly because Dombivali - Kalyan is designated as a ‘Smart City.’

 

The Bank offers convenient services to its customers with full CBS enabled network and operations and provides services of ATM, SMS Alerts, Personalised Cheque Books, Pan Card, Reliance Electricity Bill Collection, Bancassurance, RTGS/ NEFT, E-Tax Payment Facility, Cheque Truncation System, Direct Clearing, Direct Benefit Transfer Scheme (LPG Subsidy). The Bank offers various Deposit Products. The Bank has been offering spectrum of financial services to different customer segments covering Housing Loans, Vehicle Loans, Educational Loans, Business Loans with the special and lowest interest @ 11.50 percent per annum.

 

A large number of customers, shareholders, well wishers and Bank Officials were present on the occasion.

 

Among the dignitaries, Prasad Ukarde, SDO and Kiran Surawase, Tehsildar- Kalyan were present.

 

William Sequeira- vice chairman and directors - Paul Nazareth, Lawrence D’Souza, A Clement Lobo, Ancy D’Souza, Sanjay Shinde, Benedicta Rebello and Marita D’Mello were present.

 

William L D’Souza, general manager and chief executive officer and Harold M Serrao, additional general manager were also present.

 

Edward Rasquinha, manager compered the programme. Branch Manager Samuel Bangera proposed the vote of thanks.

 

The function concluded with the singing of the National Anthem.