Overview

Success Story of Durgapur Mahila Cooperative Bank Limited

Financial independence of women is one of the principal prerequisite of a progressive and equitable society. Working towards this objective, Late Smt. Minati Mukherjee along with a few women volunteers participated in a general meeting on the 20th of September, 1996 and decided to establish a Women’s bank in Durgapur. Adhering to the establishment rules of a cooperative society, on the 8th of October, 1998, the chief promoter Smt. Minati Mukherjee along with 15 regular promoters unanimously named the bank as Durgapur Mahila Cooperative Bank Limited. With an initial capital of 12.5 Lakhs and 1500 share holders, the cooperative was registered with the RCS on 23rd August, 1998 ( Regn. No. – 6RCS ). Long with the initial arrangement, the bank conformed to stringent regulations as necessitated by the RBI. The RBI finally granted the bank license on the 27th of October, 1998. ( License no. – UBD / WB-1653 P ) following which the bank was inaugurated on the 12th July, 1999 at 11 A.M. the first chairperson was Mridula Pramanick.

Within a short span of its existence,  Durgapur Mahila Cooperative Bank Limited has catered to thousands of customers while focusing primarily on its objective to make women financially independent. Over and above that, a large section of our account holders belong to the economically impoverished sections of the society. There has been a stupendous increase in both loan amounts and loanee members. Individuals starting off with Rs. 5000 as loan amount are now granted loans up to Rs. 18 lac for business purpose.

The bank has been operational for the last 18 years and the journey of transforming lives has just started. While our contribution to the financial independence of women in the society at large is the yardstick by which we measure our success, some accolades that have come our way are mentioned below –

  1. ‘52’ years Co. Op week 2005 – Women Co. Op – 1st Prize (Smt. Namita Chowdhury, Chairperson )
  2. ‘55’years Co. Op week 2008 – Urban Co. Op – 1st Prize ( Smt. Manju Bhattacherjee, Chairperson )
  3. Federation of Urban Bank and credit Society Ltd. State Coop Movement 2008 – mentionable contribution Award ( Smt. Manju Bhattacherjee, Chairperson ).
  4. Sisir Sen Memorial Award (Smt. Manju Bhattacherjee, Chairperson ).
  5. Samabay Shree Award in Samabay Mela 2017 (Smt. Bani Chakraborty, Chairperson )

Some salient features and services that the bank offers apart from usual banking services as on 31st March, 2017 as mentioned below –

  • Total Depositor 9034 Amount 124949435.14
  • Total Loan Member – 1002 Amounting Rs.61977617.56
  • Total Share Holders – 5955 Amounting Rs.8923936.00
  • RTGS & NEFT facility.
  • Self Help Group to solve unemployment problem & social development
  • Non Freeze savings account for working class ( BPL ) open by “Zero” balance.
  • Bank under CBS platform

The bank intends to open its second branch in the Ukhar/Andal region and wishes to provide ATM facilities to its customers in the near future. While a long and arduous journey lies ahead, Durgapur Mahila Cooperative Bank is hopeful that the journey will be fulfilling both for the bank and its beneficiaries.

 

Bani Chakraborty, Chairperson

Durgapur Mahila Cooperative Bank Limited