Members' / Shareholders' Corner

Shareholders' Welfare Fund

The Bank out of each year’s profit allocates funds as permissible under applicable rules for implementing welfare schemes for the members of the Bank. These schemes are reviewed every year to meet the requirements of the Bank's members. Wellbeing of the Shareholders has always been focus area for the Bank. For wellbeing of the members the Bank has formulated various schemes. The details and terms and conditions governing the schemes are given hereunder. Though every effort will be made to update the information  it is advised that the members may get in touch with the Share Department located at Head Office to know the latest changes/modification and improvements in the said schemes.

 ELIGIBILITY CRITERIA FOR SHAREHOLDERS’ WELFARE FUND SCHEME :

  1. Minimum shareholding of Rs. 1000/-
  2. Member should hold minimum deposit of Rs. 500/- or should have opted minimum loan facility of Rs. 100000/- (Balance shall be as on 31st March)
  3. Member should comply KYC requirements as per RBI guidelines.
  4. Member should not invite disqualification under bye laws.

 Welfare Schemes

   The general terms and conditions governing the schemes are as under. The terms are:

  1. The shareholder must be a Ordinary Member of the Bank and must have completed two years of his / her membership on the date of claiming the benefit under any of these schemes. The term "Member" here does not include "Nominal Member".
  1. Shareholder should apply within Two years from the date of surgery or test which has been performed after completion of two years of his/ her membership.
  2. Shareholder can apply for any of the following medical tests or surgeries "ONLY ONCE" during the entire tenure of his / her membership.
  3. In case of joint shareholding, benefits are extended only to the member whose name appears first in the register of shareholders maintained by the Bank.

    The management has the right to amend these terms any time, without notice to members.

I) Financial assistance for Medical tests and operations :

(Subject to scrutiny and approval by Doctor/s on the panel of the Bank)

Sr. No.

Name of Surgery/ Test

Amount of Medical aid (Amount in Rs.)

1

Disability- Natural / Due to Accident *

7500/-

2

Angiography

3000/-

3

Angioplasty

10000/-

4

Bypass Surgery

15000/-

5

Major Brain Surgery

15000/-

6

Kidney Transplant

15000/-

7

Cancer

7500/-

8

Cataract Operation

3000/- (Each Eye)

9

M.R.I.

1500/-

10

Scanning

500/-

11

Colour Doppler Test

500/-

12

Operation of Ear/Nose/Throat (Any one)

1000/-

13

Operation of Hernia/ Hydrocele/Appendix/ Prostate Gland

2500/-

14

Urinary stone / Gall Bladder Stone etc.

2500/-

15

Operation of Eyes (Glaucoma / Retina )

3000/-

16

Spine surgery

7000/-

17

Joint Replacement

10000/-

18

Heart Valve Operation

10000/-

19

Liver Transplant

15000/-

20

Major Surgery : Abdominal, Pancreas, Gall Bladder, Uterus, Intestine, Spleen, Ovaries, Lungs, Liver, Anastomosis

10000/-

21

Fracture of Bone requiring only Plaster

1000/-

22

Compound Fracture of Bones requiring surgery

3000/-

23

Dialysis

5000/-

  • From above mentioned list, point no. 21 to 23 are applicable only for the Surgery/ Test done on and after 01/08/2018.

* Disability- Natural / Due to Accident :  

  • Bank provides Financial Aid of Rs. 7500/- to Shareholder, who has become Physically Handicapped due to accident or other medical/ natural reasons.
  • Share holder should submit certificate from All India Institute of Physical Medicine and Rehabilitation OR Any other Govt. Hospital regarding disability of 40% or more.
II) Free Medical checkup :
  • Free Medical Checkup facility is extended, once in two years (i.e. period lapsed between two tests should be more than 2 years) at specified hospital/s with whom the Bank has made arrangements for the benefit of the members.
  • Age: Male Shareholders should have completed 60 Years of Age.
  • No Age limit for Female shareholders.
  • Tests covered under the scheme :
    • Blood-CBC, HB
    • Blood Sugar (Random)
    • Urine Routine
    • C.G.
    • Examination by Physician
  • In addition to above, female members may undergo Medical examination by     
  • Hospital : (specified Hospital for the scheme)
  • Sanjay Godbole's "Shree Hospital", Murbad Road, Kalyan [W] Pin-421301. Tel. No.: 02521-2200529 / 2209926

                   (Travelling expenses to/from the hospital will not be borne by the bank)

III) Financial assistance to Nominee/ Legal heir of the Shareholder, upon    shareholder’s demise :

Bank provides financial assistance only at the time of share refund applied by nominee/ legal heir in case of Shareholder’s Natural death / death due to accident.

Eligibility

  • Person applying for financial assistance should be nominee in Bank's record or a Legal heir of deceased member.
  • Application should be made within two years from the date of death of the Shareholder.
  • The nominee/ legal heir should submit identity proof as per KYC policy to the satisfaction of the Bank.
  • Amount of assistance will be Rs.1000/- in case of natural death and Rs.5000/- in case of death due to accident.
IV) Vidyarthi Pravinya Puraskar :

Meritorious Shareholders/ children of Shareholders are bestowed by the bank with Vidyarthi Pravinya Puraskar

Eligibility

  • Member / Member’s children should have appeared for exam in the immediate preceding academic year in which the Puraskar is declared /distributed.
  • Mother / Father of student should be shareholder of the bank as on 31st March of that year in which the puraskar is declared /distributed.
  • He / She should be a member while applying for Vidyarthi Pravinya Puraskar. (he/ she should not have been classified as disqualified member under bye laws)

Criteria for Awards :

  • Std 12th Science : for General Category : 75% and above. For SC, ST, VJ, NT, SBC : 70% and above.
  • Std 12th Arts & Commerce : 70% and above.
  • Std 10th : for General Category : 75% and above. For SC, ST, VJ, NT, SBC: 70% and above.
  • Std 5th & 8th Scholarship Exam : State Govt. Scholarship should be secured.
  • Scholarship for National Talent Search (Std 10th): Scholarship should be secured.

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