Important Decision taken in the 38th  Annual General Body Meeting held on 29/10/2006

1 Profit Allocation ( f.y.2005-06):
Dividend @15% p.a.   Rs.1,05,14,781.00
BDDR   Rs.   70,00,000.00
Undistributed profit   Rs.   80,00,000.00
Building Fund       Rs.   70,00,000.00
Welfare Fund     Rs.   13,91,630.00
Total  Rs.3,39,06,411.70
2 The existing amount of scholarship to the brilliant children of share holders and staff has been increased from Rs.125/-p.m (for 9th and 10th class ) to Rs.150/- p.m. and from Rs.150/-( for 11th and 12th class)  to Rs.200/- p.m.
3 A new welfare scheme has been introduced to be effective from 2007-08     whereby children of share holders and staff who get 90 % and above marks in the Board examination will get following one time incentive :
10th class   Rs.3100/-
12th class Rs.5100/-


Consequent to the above decisions , Managing Director & CEO of the Bank has already directed all Branch Managers vide his order dated November 1, 2006 to transfer dividend @15% to the optional deposit (OD) account of the members. Where members owe some dues to the Bank either in loan or interest this amount of dividend has to be adjusted first against these liabilities and balance, if any, will be transferred to the OD account. Members can withdraw this amount from their OD account as  and when they need it  after 10th November , 2006 .