The own building of the Steel City branch of the Urban Cooperative Bank, Rourkela (UCBR) was inaugurated here at Ambagan, Sector-18 on Saturday by the Managing Committee, UCBR president Rajesh Mohapatra.
Among others, the vice president of bank Purnima Kerketta, Directors Sudarsan Mishra, Sangram Keshari Samantray, Sukant Mohapatra, Akhaya Kumar Rout, lalita Nayak, Nikunja Pradhan, Sailendra Kumar Marathia, Rohit Kumar Samal, Machhindra Kalet, Bibhudanand Tripathy, Anant Kumar Jena, Sandhya Rani Rout, Rajkishore Sahoo, CEO Rabindra Kumar Mishra, many former Directors, account holders, share holders, beneficiaries, bank staffers and respected denizens of Rourkela were present on the occasion.
Welcoming all on the occasion, Mohapatra briefed about the economic position of the bank and expected the cooperation of all for the development of the bank in coming days.
He also informed that since inception the Steel City branch of the bank was functioning in a rented house at Shaktinagar and from now onwards it will function in its own building. With this the financial burden of the bank will be reduced and the customer service will be improved, he said.
It may be noted that to reduce the financial burden, the bank management decided to take a piece of land from the Rourkela Steel Plant on lease to construct its own building for Steel City branch.
Accordingly the land was taken in 2004 and the construction work of the building completed in the year 2011. But due to certain technical reasons, neither the bank got the RBI nod, nor the approval of Registrar of Cooperative Society (RCS) to shift the branch to the new building.
As the bank was meeting regular loss and the NPA was high it had become a day dream to get the nod of RBI and approval of RCS. But after taking the charge of management in February, 2015, Mohapatra put his own effort to bring reformation in bank and as a result, the customer service of the bank improved, bank started earning profit and NPA got down.
And finally considering the regular improvement in bank’s position, both the RBI and RCS gave permission to shift the branch to its new building.