Mumbai: Model Co-op Bank opens 25th branch at Sakinaka, Andheri (E)

By Rons Bantwal
Bellevision Media Network

Mumbai, 08 May: Model Co-operative Bank opened its 25th branch at Sakinaka, here on May 5. It has ATM kiosk that will be at the services of customers shortly.

 

Dr David T Alvares, joint commissioner of professional tax, Mumbai inaugurated the new branch, here on May 5 morning.

 

Fr Samuel Rebeiro, assistant parish priest of St Anthony Church, Sakinaka, here blessed the new branch.

 

 

The chairman of the Bank, Albert W D’Souza in his welcome address congratulated the Andheri (E) customers for their support and patronage rendered to the Bank right from the days of the Credit Society, due to which they have opened a branch at Sakinaka today. ‘Small is Effective’ and so the customers can avail good and personalized service from the staff in comparison with large commercial banks. He concluded stating that ‘Service with a Smile’ is their philosophy and their young, dynamic and enthusiastic staff at Sakinaka led by the manager Ronald D’Souza are here to serve the customers with a smile.

 

The Institution has completed 103 years of existence on 26.04.2019 and the Bank has crossed deposits of Rs1000 crore as on March 1, 2019. The chairman stated that with deposits of Rs 1030 crore and advances of Rs 570 crore; the Bank has achieved total business of about Rs 1600 crore and the Bank is on the threshold of achieving Scheduled Bank Status, after which, ‘sky is the limit’ for future expansion. The chairman thanked the customers for their invaluable support and trust.

 

The Bank is honored to be recognized as the top 3 Financially Sound & Well Managed Co-operative Banks in Mumbai by ‘The Brihan Mumbai Nagari Sahakari Banks Association Ltd., Mumbai in the category of deposits above Rs  300 crore to Rs 1500 crore for the year 2013-14 and 2014-15 and 1st Prize for Best Bank among  Co-operative Banks in Mumbai Region in the category of deposits above Rs 500 crore awarded by the Maharashtra State Co-operative Banks Association Ltd., Mumbai for the year 2014-15 and the Brihan Mumbai Nagari Sahakari Banks Association Ltd for the year 2015-16. The Brihan Mumbai Nagari Sahakari Banks Association Ltd, also awarded the Bank 2nd Prize in the category of deposits above Rs 500 crore for 2016-17.

 

The founder chairman, John D’Silva stated that opening of the 25th branch is a great achievement for Model Co-op Bank. The Bank aims for Skill Development and help young people to become Entrepreneurs. He further stated that we have opened a Branch at Sakinaka at the request of the people, and urged the citizens of the area to come forward and avail of the various facilities and services provided by the Bank.

 

Guardian Director, Vincent Mathias stated that Sapling which all the citizens of this area had planted has now grown and giving fruits. He further said, ‘We have inaugurated our 25th branch at Sakinaka, and we are here at the right time. We need to inspire our youngsters to take up Entrepreneurship, create wealth for them and for the nation.’

 

Fr Samuel Ribeiro in his address said, ‘We need to encourage our youngsters to take up Entrepreneurship or Studies in IAS and IPS.’ He encouraged the gathering to patronize the Bank, and wished the Bank success.

 

Dr David Alvares stated that he was honored to be the chief guest for the inauguration ceremony of the 25th Silver Branch of the Bank.   He encouraged the gathering to avail of the services of the Bank and stated that the Bank offers low rate of interest on advances and high rate of interest on deposits.

 

The Bank offers convenient services to its customers with full CBS enabled network and operations and provides services of ATM, SMS Alerts, Personalized Cheque Books, Pan Card, Bharat Bill Payment System, Bancassurance, RTGS/NEFT, E-Tax Payment Facility, Cheque Truncation System, Direct Clearing, Direct Benefit Transfer Scheme (LPG Subsidy), Internet View Facility, Authorized Dealer Category – II – Full Fledged Money Changers (FFMC), NRE Accounts, E-Commerce etc. 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 lowest interest rates.

 

Subhash Mhatre, partner of Suhan Aerosol, presented a bouquet to the chairman in appreciation of the services provided to him and on the inauguration of our 25th Branch.

 

 

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

 

Directors Paul Nazareth, Lawrence D’Souza, Gerald Cardoza, A C Lobo and Marita D’Mello graced the occasion.

 

William L D’Souza, GM & CEO, Shashi Shetty and Naresh Thakur, assistant general managers were also present.

 

Edward Rasquinha, manager compered the programme. Branch manager Ronald D’Souza proposed the vote of thanks.

 

The function concluded with the singing of the National Anthem.