Pusad Urban Bank
Share Holders
97 Constitutional Amendment or Ideal Byelaws for the Member of Bank – According to provision of 97 Constitutional Amendment of Central Government and irrespective of that changes made in the Maharashtra State Co-operative Law 1960. New amended Byelaws will be in force. According to these Byelaws every member will become “Active Member” has to fulfill the following conditions.
  1. It is compulsory to each member has a share of Rs.500/-. Those member having the share amount is less than Rs.500/- since establishment of the bank, they have to complete the Rs.500/- by depositing the balance amount of share.
  2. On an average there is any type of minimum deposit should be of Rs. 1000/- or any type of loan should be minimum Rs. 1,00,000/-
The total Shareholders of the Bank as on 31.03.2015 is 35731 The Bank has paid 9% dividend for the current year.

Since 14 June 2015, New applicant, to become a shareholder it is necessary to hold the minimum 10 shares of Rs. 500/- each. Hence, you can become a shareholder by depositing Rs.5000/- (+) entrance fee of Rs.10/-.

The Shareholders are also paid dividend every year on the amount of share held by them in our bank. The Bank has taken the group accident insurance policy of all Shareholders with Rs.1.00 lakh Insurance cover. And those members having the share amount of Rs. 10000/- and above, they are eligible for group accident insurance policy of Rs. 2.00 lakh.
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