Nashik: NAMCO Bank Expansion Gains Momentum As Jalna Merchants Bank Merger Gets Majority Approval
Nashik: A key resolution to merge Motiram Agrawal Jalna Merchants Co-operative Bank Ltd., Jalna, with Nashik Merchants Co-operative Bank Ltd. (NAMCO Bank) was approved by a majority at the bank’s 68th Annual General Meeting. Barring a minor dispute during the discussion on the merger proposal, the AGM was conducted in a cordial and enthusiastic atmosphere under the chairmanship of Hemant Dhatre.…
In Nashik, the merger of Motiram Agrawal Jalna Merchants Co-operative Bank Ltd. with Nashik Merchants Co-operative Bank Ltd., or NAMCO Bank, took a significant step forward at the bank's 68th Annual General Meeting. The merger was approved by a majority of the attendees, with minor disagreements aside. A 15% dividend was announced for members at the beginning of the meeting.
The chairman, Hemant Dhatre, provided an overview of the bank's financial performance, lending activities, and various initiatives. The AGM also addressed 26 items, including deposit schemes, lending policies, customer services, and expansion plans. Members expressed satisfaction with NAMCO Bank's growing reach as a Multi-State Scheduled Bank and its progress towards new milestones.
The contributions of members, the Board of Directors, and employees to the bank's growth were acknowledged. Notable attendees included Vice-Chairman Prakash Dayama, Public Relations Director Devendra Patel, and several other directors and officials.
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