Bardhaman Dot Com News Bureau
Durgapur, 20 Aug 04:
When in the recent time, the district have experienced co-operative banks turning sick & eventually resulting in closure affecting the deposits of the common people, a co-operative bank have managed to be judged as the `best performing urban co-operative bank' within a mere six years of its incorporation.
 

In 1969 about a dozen young people of the industrial hub started a credit co-operative society with a capital of mere Rs. 610. In the next 35 years, the Durgapur Steel Plant's employees' credit co-operative society grew up to be a reserve bank accredited bank with a share capital of more than Rs. 20 crores & assets over Rs. 132 crores. Durgapur Steel people's Co-operative Bank Limited was declared as a bank by RBI on 1997 & was judged by the state co-operative bank as the best performing urban co-operative bank during the last fiscal year.
 
The management of the bank passes on the 

credit to the employees & patrons of the bank for the recognition. "The passion of our staffs & the love of our patrons have made it possible for us to be judged as the no. 1 among the 52 urban co-operative banks" informed Dipak Deb, vice-president of the bank. He also said, "we have a massive expansion plan during the next few months. We are all set to open 4 new branches at City Centre, B-Zone's Chandidas Market, Muchipara & Loudaha. We also have plans to open ATMs at our head office & DSP administrative building shortly." The necessary inspection by the country's central bank have been done & the management is expecting its 'green signal' any day. The bank have recorded a net profit of over Rs. 4 crores in the last financial year.

The clients of the bank although satisfactory with the service of the bank was in demand of more branches for a long time. Clients like Aurobindo Karmakar, Indra Mukherjee, Tamal Mondal, Debol Mukherjee are really pleased to learn that they will shortly be able to operate at a branch much closer to their residence. 

During the recent past, the district's depositors were badly affected with the closure of the Asansol People's co-operative & Pranabananda co-operative banks. This led to doubt the stability of such co-operative banks. In spite of such oddities, the performance of the DSP Co Op Bank Ltd. really worth a praise and hopefully help in regaining the lost glory of the co-operative banking movement in the district.