It is considered a privilege and honor to be on the board of this esteemed institution which stands for principles eulogized by the visionary Dr. Sir. M. Visvesvaraya.
The growth of an institution and more particularly a financial institution like ours also marks multiple challenges. It is the determination and dedication that overcomes such challenges. It is a feather in the cap that the bank has been continuously getting 'A' classification from the Statutory Auditors.
The Reserve Bank officials have also accorded satisfactory rating to the bank during their inspection. It is one of the few Urban Co-operative Banks and the first among the peers to completely computerize all its operation by implementing Core Banking Solution. The bank has a sound internal control mechanism by way of concurrent audit and internal inspection. The procedure and routine and the housekeeping occupy a prominent place in the eyes of the bank.
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The staff at all levels are being trained in almost all fields of the banking depending upon the position of the employee. The training programme is a continuous process in the bank which is being considered as an investment for deriving long term benefit rather than looking at a mere factor to be complied with.
The bank has well formulated policies - be it relating to KYC/ credit / investment / customer service/ information technology keeping in view the RBI guidelines. The policies are being amended every year taking into account the amendments made by RBI from time to time.
Keeping in mind the working class customers, the bank has conveniently timed its business hours spread over in the mornings and late evenings. All types of services are extended in both the sessions.
The bank has several committees like Central Loan Committee, Risk Management Committee, Asset Recovery (NPA Review Committee), Committee for IT related activities/ Audit and Accounts Committee etc. These committees have Directors drawn from various fields who offer valuable guidance not only to the bank but also to the branches. These committees meet periodically review the progress made since the last meeting and formulate strategies to achieve the desired goals.
Overall, the bank has a well knit mechanism for smooth functioning.