Bank Developments and Facilities
As the bank continued to develop, discussions during meetings focused on enhancing facilities for valued members.
Beginning in the 1998-99 financial year, the bank launched a free medical hospital, providing free medicines to its members. Additionally, the bank offers a maximum of Rs. 25,000/- for heart surgery, cancer treatment, kidney surgery and eye surgery.
In the event of a member’s death, their heirs receive a Rs. 10,000/- posthumous grant. If a member dies in an accident, their heirs benefit from the Janata Accident Insurance, providing up to Rs. 2,00,000/-.
During the COVID-19 pandemic, the bank provided free vaccines to its members, customers and the general public. Furthermore, insurance coverage was extended to the bank’s board members and staff as a precautionary measure against COVID-19.
The financial situation of the bank was adversely affected by demonetization and the COVID-19 pandemic, which hampered loan recovery efforts. Due to the high volume of non-performing assets (NPAs), the bank was unable to distribute share dividends to its members. TVCB’s executive committee members guided the bank through these challenging times and put it on a path to progress for the period 2020 to 2025.s subsequently distributed to the valid members.
With the encouragement of the executive board members and the continuous efforts of the staff, the bank reduced its NPA ratio to 2.89% for the year 2022-23, falling below the limit set by the Reserve Bank of India. Consequently, permission was obtained from the Reserve Bank of India to distribute a 10% share dividend for the year 2022-23, which was subsequently distributed to the valid members.