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Sarva Haryana Gramin Bank (SHGB) Earns 338 Crores Net Profit

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Report By Jag Mohan Thaken

09 May 2024, Chandigarh: Opened in 1975 with a motive to serve rural people, especially the farmers, the Sarva Haryana Gramin Bank (SHGB), a joint venture of the Central government and Punjab National Bank is serving the people at the grassroot level with the largest branch network in Haryana.

Referring to services with modern technology, Mr. Sanjeev Kumar Dhupar, the Chairman of the bank said that Sarva Haryana Gramin Bank, like all other public sector banks and private sector banks, is using modern technology to provide all the facilities like ATMs, mobile banking, internet banking, RTGS, NEFT, IMPS, etc. to the rural & urban residents through 684 branches and 951 BC banking outlets so that the customers can transfer funds, pay bills etc. without visiting the branch.

The Chairman, Dhupar was releasing the audited figures of March 2024. Addressing the press, the Chairman of the Bank, Mr. Sanjeev Kumar Dhupar happily informed that the bank has achieved all the targets in key parameters like deposits, loans, NPA and profit.

Highlighting the key figures of the bank, the Chairman Mr. Sanjeev Kumar Dhupar informed that the total business of the bank as of 31.03.2024 has increased from Rs. 33,531 crore to Rs. 37,340 crore, which shows an annual growth of 11.00%. Deposits have increased from Rs. 20,555 crore to Rs. 22,703 crore with a growth of 10.45%. Similarly, loans and advances have increased from Rs 12,976 crore to Rs 14,637 crore with a growth of 12.8%. The gross NPA of the bank has come down to 3.25% of the advances from 4.29% of last year and the net NPA is zero. The operating profit of the bank has increased by 6.80% from Rs. 569 crore to Rs. 608 crore and net profit has increased from Rs. 276 crore to Rs. 338 crore. CRAR of the bank is 14.87%. Mr. Dhupar informed that the bank has opened 4 new branches in the year 2023-24 and 4 new branches will also be opened in the year 2024-25.

The Chairman also shared the target for the next financial year i.e. 2024-25. He informed that the total target of the bank’s business for the financial year 2024-25 has been kept at Rs. 45,000 crores, in which the expansion of deposits has been kept at Rs. 26500 crores and the expansion of loans has been kept at Rs. 18500 crores. During the current financial year 2024-25, the main focus of the bank will be on increasing loans for micro, small & medium Enterprises and retail sectors along with agricultural term loans that includes the launching of several schemes like special schemes for business purposes, exemption in documentation fees for loans under CGTMSE, GST Express loan Scheme, Business Development Scheme, special schemes for business purposes to promote MSME advances, E-renewal scheme for KCC and launching of personal loan schemes for self-employment.

Giving credit for all these achievements to the Bank’s officers & employees working in the branches and field, he said that the Bank’s staff is performing excellently in every field with full enthusiasm and zeal. In the most important area of recovery of the bank, they have worked very hard on NPA Reduction and recovery in irregular accounts and the pleasant results are before everyone.

On this occasion, all the General Managers of the Bank, R.S. Salaria, Vimal Kumar Sharma, Mithilesh Kumar Jha and Rohit Nijhawan were present.

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