: Jana Utkarsh to open its 10th branch in Porvorim #finance #StockMarketNEWS #Business Staff Reporter Mapusa Stating that topmost priority is given to safeguard shareholders interest,

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Jana Utkarsh to open its 10th branch in Porvorim #finance #StockMarketNEWS #Business
Staff Reporter

Mapusa

Stating that topmost priority is given to safeguard shareholders interest, the chairman of the Jana Utkarsh Urban Cooperative Credit Society Ltd. Narayan Karekar said, “Our credit society is accredited with A Class audit classification for the last 12 years, and is making substantial profit since inception, and now we are opening our new branch at Porvorim.�?

Addressing the media persons in Mapusa, Karekar in presence of Dilip Mahale, Anil Samant, Bhai Pandit, Suresh Arolkar and recovery manager Narayan Shinde said that “for the last 12 years, our credit society is operational in North Goa and we have got nine branches and our credit society has been making healthy profit and our Board of Directors is optimistic about the future growth and profit.�? “We are opening our 10th branch at Porvorim, which will be inaugurated at the hands of Tourism Minister Rohan Khaunte in the presence of Saligao MLA Kedar Naik and other diginatires,�? he said.

Commenting on the performance of the credit society, Karekar said that “during the financial year of 2021-22, the society has earned a net profit of `61.12 lakh while our reserves and other funds stand at `4.18 crore. While the share capital is at `3.37 crore and our deposits have touched `72.54 crore.�?

He further said that “the society’s NPAs are below 10% and net NPAs stand at 4.40% and our secured advances are secured with tangible security.�?

“We have appointed a recovery manager for speedy and timely recovery and we have been paying 10% dividend to our shareholders for the last more than 10 years except for the COVID period, which was due to guidelines of the registrar of societies,�? he said.