105% business growth & 0% net NPA in tough times

Shri Veershaiv Cooperative Bank will be applying for a bank merger and for scheduled bank status:

- mehul

The year 2019-2020 was full of challenges for cooperative banks in Maharashtra, particularly those in Kolhapur district, especially a severe flood in the early part of the year. There was huge loss of food grains and livestock. Then came the pandemic, which really gave a major jolt to the business and industry. Suryakant Patil, ex-President & Director at the Shri Veershaiv Cooperative Bank, says specifically the banking sector in Kolhapur has suffered the most. The lockdown due to the pandemic situation has hit the businesses like logistics, hospitality and education the worst and this has not only impacted the employment, growth rate (GDP) but also hampered exports. “Fortunately, the agricultural sector has shown good recovery due to a good monsoon and satisfactory harvesting. This is a gift given to the country by the farmers,” he says.

MORATORIUM, A BOOSTER