Mysuru: The Diamond Jubilee celebration of the Mysore Merchants Co-operative Bank Ltd. was held this morning at Basanth Convention Hall in Vishweshwaranagar here.
Inaugurating the programme, Yaduveer Krishnadatta Chamaraja Wadiyar commended the Bank for completing 60 successful years which is not an easy task to accomplish. He recalled that the land for establishing the Bank was then given by Jayachamaraja Wadiyar whose contribution towards music and growth of city cannot be quantified. He wished that the golden days of yesteryears should come back.
Presiding over the programme, Bank President B. Kodandaram paid rich tributes to the late Founders of the Bank — Ragimandi Chowdaiah, P.N. Subbaraya, Chinnaswamy Mudaliar and B. Ramanna — who founded the Bank way back in 1959 with a modest capital of Rs.3,100 which has now risen to Rs.88.48 crore.
As of March 2019, Rs.269.33 crore has been advanced as loan. The profit of Rs.8,900 during the establishing year has grown now to Rs.5.62 crore.
The Bank has three branches — One near Jaganmohan Palace, another in Bandipalya (APMC Yard) and Hebbal. Core banking facility is available with latest technology.
The Bank has been acclaimed as the Grade 1 Merchant Bank and the Best Town Co-operative Bank, explained Kodandaram.
Bank Vice-President A. Anand, Directors N. Sudha, M.N. Sumana, B.R. Nandish, K. Premkumar, C.V. Somashekar, A. Prabhu Prasad, R.P. Krishnamurthy, K. Venugopal, S. Anuradha, M.R. Vijayalakshmi, General Manager Sridhar D. Kulkarni and others were present on the occasion.