The Bank is pleased to inform its shareholders that a dividend of 15% has been consistently declared for the last five financial years, reflecting the Bank's commitment to delivering value to its members and shareholders.
|
Financial Year |
%age of Dividend Declared |
|---|---|
| 2021-2022 | 15 |
| 2022-2023 | 15 |
| 2023-2024 | 15 |
| 2024-2025 | 15 |
| 2025-2026 | 15 |
In response to the request made by members during the 31st Annual General Meeting (AGM), the Board of Directors approved the establishment of a Members Welfare Fund in accordance with the Bank's Bye-laws.
The Fund has been created to provide financial assistance towards medical expenses incurred by eligible members. Under this scheme, a one-time medical reimbursement of ₹75,000 is available during the lifetime of the member for any of the following major medical procedures:
Eligible Medical Treatments
Heart-related surgeries (including Angioplasty, Bypass Surgery, etc.) Kidney Transplant Surgery Cancer-related Surgery Knee Replacement Surgery
(Subject to the terms and conditions specified below.)
Terms and Conditions
• The applicant must be a Regular Member or Associate Member of the Bank.
• Members who have obtained membership on or after 01 July 2026 shall become eligible for this benefit only after completing five years of membership.
• The actual medical expenditure incurred by the member must be equal to ogreater than the reimbursement amount provided by the Bank.
• The claim must be submitted personally by the member who incurred the medical expense.
• The claim must be lodged within one year from the date of incurring the medical expense.
• The benefit shall be provided only once during the lifetime of the member.
• Approval and disbursement of claims shall be subject to verification of supporting documents and compliance with the Bank's policies.
Death Relief Assistance
The Bank has instituted a Death Relief Fund to provide financial support to the nominee of a deceased member.
A financial assistance amount of ₹20,000 shall be paid to the nominee of an eligible deceased member, effective from July 2024. The amount may be revised from time to time based on the approval of the Board of Directors.
Eligibility and Conditions
• The deceased member must have completed a minimum of one year of membership with the Bank at the time of death.
• The nominee must submit all documents required for settlement of the death claim within one year from the date of death of the member.
• Payment of the Death Relief Fund is subject to verification of the submitted documents and compliance with applicable Bank policies and regulations.
Disclaimer
All benefits under the Members Welfare Fund and Death Relief Fund are subject to the Bank's Bye-laws, applicable policies, and decisions of the Board of Directors, which may be amended from time to time.
