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70-year-old Indubai Sakat is among 280 Pune women running 18 bank branches

Bhagini Nivedita Cooperative Bank completes 44 years on March 24, a complete women run bank, has been catering to banking services for men and women alike.

pune Updated: Mar 07, 2018 15:34 IST
Anjali Shetty
Anjali Shetty
Hindustan Times, Pune
pune,Bhagini Nivedita Cooperative Bank,pmc
Indubai Sakat (right) with her colleagues at the Bhagini Nivedita Cooperative Bank.(HT Photo)

For 70-year-old Indubai Sakat, life took a 180-degree turn 38 years ago. The then 40-year-old worked with the Pune Municipal Corporation (PMC) as a sweeper when she met with the foundersVivek Dadhe and Meenakshi Dadhe of Bhagini Nivedita Cooperative Bank.

She was immediately taken in to help out at the bank. A resident of Sadashiv peth, Indu is uneducated yet manages to counsel and lead women from her area.“I studied till Class 2. The founders and fellow members here have been generous enough to train me. I am in the director’s post today. I help women coming from lower sections of the society to understand the importance of taking loans form established banks. Unfortunately, most of them fall prey to unauthorised money-lenders and loan-sharks,” said Indu.

Bhagini NiveditaCooperative Bank has 18 branches across the city with 280 women employees. The idea is to empower women, explore their potential and make them independent and capable.

General manager Shaila Joshi shared,“There was a time when women would not venture out and deal with money matters. Today, we have women take charge of everything. Our aim is to empower women and make them independent. Indu helps us counsel women from downtrodden families and explain the importance of saving and bank accounts.”

Speaking on the occasion Jayashree Kurundwadkar, chairperson of the bank, said, “To mark the 44th anniversary on March 24, we are happy to announce the launch of ‘Utkarsha’, a limited period offer for women, starting from March 8, International Women’s Day. During the period between March 8 and 24, women can avail secure loans at a discounted rate of interest. Here, all types of loans, which are generally available at 11% and above, would be available at specially discounted rate which is as low as 8.48% and 8.88%.”

The bankhas more than 50,000 members. The annual turnover of the bank is about Rs.1,300 crore. The bank has been giving 15% dividend since 17 years. Its gross NPA has also been less than 1%. In the near future, the bank would be investing in creating its own infrastructure for digital banking services.

First Published: Mar 07, 2018 14:49 IST