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NOTICE OF THE 2nd GENERAL BODY MEETING FOR 2020-21

Notice is hereby given to the Members that the 50th General Body Meeting of Vardhaman (Mahila) Co-operative Urban Bank Limited, (Regd No. TA1341) Banjara Hills, Hyderabad will be held on Friday 26th of March 2021 at 4.30 p.m at “Kutchhi Bhavan” Shri Kutchhi Mitra Mandal, 3-5-141/2/A/1, Edenbagh, Ramkote, Hyderabad to transact the following business.

  1. To approve the Annual Budget of Income & Expenditure for the year 2021-2022.
  2. To approve the Annual Business Plan for the year 2021-2022.
  3. To approve / ratify admission of Members / allotment of additional shares / withdrawal and refund of share capital during the period from 01.08.2020 to 31.01.2021.
  4. To ratify the Sale / Purchase of Investments done by the Bank during the period from 01.08.2020 to 31.01.2021.
  5. To approve/ratify transfer/appropriation of undistributed profit to Investment Fluctuation Reserve.
  6. To review all overdue loans and loans covered under legal action.
  7. To consider and approve amendments to clause 31 (iii) of the Byelaws of the Bank regarding vacation of office by the director in tune with Section 21-B(1) of the Telangana Co-operative Societies Act.
  8. To consider any other matter with the permission of the Chairman including such matter as may be required under the Act of Rules.

All Members are requested to attend the General Body Meeting on the appointed date, time & place. The Government guidelines prevailing on the date due to COVID-19 pandemic will be applicable for physical attendance.

Date: 24-02-2021
Place: Hyderabad.
By order of the Board of Directors
-sd/-
Chief Executive Officer

Note:

1. With regard to quorum of the meeting, the G.O. Rt. No. 305 dated 14.07.2020 of Telanagana State Government exempting the Cooperative Urban Banks provided in Rule 23 under section 123 of TSCS Act & Rules 1964 will be followed.

2. Members are requested to bring along with them their share certificates/Identity Cards for identification.

3. Members are requested to update their Account No, Address, Mobile Number and email ID.


Share Issue Notice

This shares issue is open for NEW FEMALE APPLICANTS ONLY.

The terms of the issue are as under:

  1. Share issue will open from 18.01.2021and shall close on 31-03-2021.
  2. The number of shares allotted to the new female members will be minimum 200 and maximum 500.
  3. Any allotment of shares are subject to KYC compliant SB / CA a/c of the applicant.
  4. Bank reserves the right to foreclose the scheme.

General Terms & Conditions to fresh applicants:

  1. Face value of each share is Rs.25/- and issued at par.
  2. Staff and their family members are not eligible for allotment of shares.
  3. Chief Executive Officer with the approval of the Chairman is having discretion to deviate with the above norms on a case to case basis.



Elections:

Elections were conducted for the Managing Committee of the Bank by the Deputy Registrar of Cooperative Societies, Hyderabad and Election Officer on 09-12-2016 and the list of new Board of Directors is given hereunder.

BOARD OF DIRECTORS

1) Sri.  Shantilal  Daga,    F.C.A - Chairman
2) Smt. Nirmala   Daga - Sr. Vice Chairperson
3) Smt. Rajkumari  Chordia - Vice  Chairperson
4) Smt.Chayya  Golecha - Director
5) Smt. Dr.Asha  Khivsara - Director
6) Smt. Chhaya  Lohade - Director
7) Smt. Vidya  Jain - Director
8) Smt. Nirmala  Bermecha - Director
9) Smt. Pushpa  Sancheti - Director
10) Smt. Sangeeta  Jain - Director
11) Sri.  Shantilal  Khimji  Shah - Director
12) Sri.  P. P. Singhvi,   F.C.A. - Director
13) Sri.  Tushar  Savla,  F.C.A - Director
14) Sri.  Jugraj  Jain - Director
15) Sri.  Mahender Kumar Jain Golecha. FCA - Prof. Director (Co-opted)
16) Sri.  Madan  Chand Jain Lunawat - Prof. Director (Co-opted)



Interest on Deposits

On the basis of suggestions received from many of our valued customers, the following changes have been introduced with effect from 29.02.2016 in the method of payment of interest on Fixed Deposits.

  1. Monthly Interest shall be paid on last day of each month.
  2. Quarterly Interest shall be paid on 31st March, 30th June, 30th September & 31st December.
  3. Half yearly Interest shall be paid on 30thSeptember &31st March.



IMPORTANT PUBLIC NOTICE

RBI has issued fresh guidelines on KYC vide circular no. UBD.BPD (PCB ). Cir no. 23/14.01.062/2014-15 dated 22.10.14 as under :

  1. Banks have to give a notice of three months to the customers of accounts which are not KYC-compliant to submit documents required to make these a/cs KYC-compliant.
  2. A further period of three months should be given to the customers to complete the process
  3. After the six months period is over, the remaining accounts may be rozen”partially’, i.e, credits may be allowed, but debits shall not be permitted.
  4. If the accounts remain non-compliant six months after “partial” freeze is imposed, neither credits , nor debits shall be permited and the accounts shall be made “in-operative.

Therefore, all customers of the Bank are requested to contact their branch to find out the status of their accounts.

The following documents are required for making an account KYC-compliant :

Documents required as Id and/or  address proof

Documents

Accounts of individuals
• Legal name and any other names used (ID-proof)

 

 

 

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  • Correct permanent address ( Address-proof )

(i) Passport (ii) PAN card (iii) Voter’s Identity Card (iv) Driving licence(v) Identity card (subject to the bank’s satisfaction) (vi) Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank (vii) Job cards issued by NREGA duly signed by an officer of the State Government (viii) The Letter issued by the Unique Identification Authority of India containing details of name, address and Aadhar number or any other document as notified by the Central Government in consultation with the Reserve Bank of India or any other document as may be required by the banking companies or financial institution or intermediary
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(i) Telephone bill (ii) Bank account statement (iii) Letter from any recognized public authority(iv) Electricity bill (v) Ration card(vi) Letter from employer (subject to satisfaction of the bank)

(any one document which provides details of both Id and address  to the satisfaction of the bank will suffice )

Accounts of companies
• Name of the company
• Principal place of business

•    Mailing address of the company
• Telephone/Fax Number

(i) Certificate of incorporation and Memorandum & Articles of Association (ii) Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account (iii) Power of Attorney granted to its managers, officers or employees to transact business on its behalf (iv) Copy of PAN allotment letter (v) Copy of the telephone bill

Accounts of partnership firms
• Legal name
• Address

(i) Registration certificate, if registered(ii) Partnership deed (iii) Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf (iv) Any officially valid document

Accounts of propritorship firms
• Legal name
• Address

Any one of the undernoted documents to be obtained. as Identity and address proof of the proprietor

 (i) Passport, PAN card, Voter ID card, Driving licence, Ration Card with photo, etc.

Any two of the undernoted documents to be obtained. as Identity and address proof of the proprietary concern

 (ii) Registration certificate (in the case of a registered concern), certificate/ licence issued by the Municipal authorities under Shop & Establishment Act, CST/VAT certificate/ return, complete Income Tax return ( not just the acknowledgment  ) of the sole proprietor where the firm’s income is reflected, duly authenticated / acknowledged by the Income tax authorities, utility bills such as electricity, water and landline telephone bills in the name of the proprietary concern, Licence issued by the Registering authority like Certificate of Practice issued by Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc.

 



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