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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
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