Business meet, ATM card facility launched at Muslim Co-op. Bank

Mysuru: Narasimharaja (NR) MLA Tanveer Sait and Deputy Commissioner (DC) G. Lakshmikanth Reddy jointly inaugurated the Business Meet and launched the ATM Card facility at an event organised by Muslim Co-Operative Bank Ltd. at its premises, on New Sayyaji Rao Road in city on Saturday.

Speaking on the occasion, DC Lakshmikanth Reddy expressed happiness that the Bank has been serving people since 109 years and greeted the Managing Committee for taking care of the needs of the shareholders, depositors and customers.

Addressing the gathering, MLA Tanveer Sait said that after introducing CORE banking facility, the launching of ATM Card facility is a step towards the progress and development of the Bank. He advised the Bank to introduce Net Banking facility also.

The MLA said that when compared to previous years, the number of shareholders was decreasing and asked the Bank to enrol new shareholders so that the transaction of Bank could increase. He requested the gathering, comprising business community, to give their suggestions for the overall development of the Bank.

Dr. Syed Shakeeb-Ur-Rahman, former Dean of VTU, Ariff A. Mehkri, former Chairman of Mysore District Wakf Advisory Committee, Javeed Ahmed, Proprietor of Chamundi Engineering, Moulana Ismail, Principal of Huda Public School, Zahoor Mohammed, Aboobaker, Assistant Director, Administrative Training Institute and Syed Farooq, Congress leader, gave suggestions for the overall development of the Bank.

Earlier, the Business Meet and ATM Card launching began with the recitation of holy verses from the Holy Quran by Hazrath Moulana Qari Fayaz Ahmed. Director of the Bank Dr. Abdul Ravoof welcomed. President of the Bank K.C. Showkath Pasha presented the detail report about the progress of the Bank.

He said that the Bank established in 1916 was serving the community since then. Pointing out that the Bank was registered as a Co-operative Society earlier and later converted into a Bank, he said that the Bank is having deposits to the tune of  Rs. 85 crore and has lent Rs. 60 crores as loans. He further said that the Bank was having Rs. 3.71 crore as share capital, with Rs. 25 crore as Reserve and other funds and added that for the first time the Bank has declared 22 percent as dividend to the shareholders of the Bank.

Showkath Pasha said that the Bank has already introduced any Branch Banking, SMS alert, RTGS (Real Time Gross Settlement), IMPS (Immediate Payment Service) and NEFT (National Electronic Funds Transfer) facilities and now ATM Card facility has been launched besides stating that the bank was helping the community children by giving scholarships for education and helping dialysis patients.

He appealed to all the business community to join hands and requested them to keep deposits, avail loans facilities and open business accounts assuring them of better and fast service.

DC Lakshmikanth Reddy and MLA Tanveer Sait distributed Family Health Insurance cards of Rs. 5 lakh coverage to the employees of the Bank which covers the employees’ families.

Bank Director Dr. Suraiyya Tarannum proposed a vote of thanks. Director Abdur Rahman Shariff compered the programme.