Profile
Bank was inaugurated with total computerization on 27.12.1999 with a share capital of Rs.30,00,000 contributed by 2000 members in a small premises of 650 sft. with a meagre investment of Rs.300000 on furniture and fixtures. Earned profit in its first 3 months of existence and declared dividend of 10% for the year ended 31.03.2000. Bank established Quality Management Systems (QMS) of international standards and received Quality System Certification License from Bureau of Indian Standards (BIS) on 30.03.2004 and has been securing ISO QMS License renewals since then. Our bank is the only bank that secured QSC License from BIS. Bank has been awarded Grade 'A' in Statutory Audits since inception.
Bank trained several raw graduates as banking professionals who are now in various large banks. Bank assisted several small entrepreneurs who turned very successful in their endeavors and created employment to hundreds of unemployed youth.
Bank has been contributing its mite for nation building since its inception; supported large number of weaker sections, mostly small and micro entrepreneurs and self employed.
Bank took over Netha Cooperative Urban Bank Limited, West Maredpalli and shifted it to a slum in Balajinagar, Jawahar Nagar Gram Panchayat to support weaker sections who were forced to avail gold loans with exorbitant rates of interest ranging from 36%pa to 60%pa. Shifting a bank branch from a metropolitan city to a gram panchayat slum is a history in Indian banking.
Bank was headed by a banking professional Sri B.Ramabrahmmam a retired GM of Andhra Bank from 31.08.2003 to 20.04.2015. He resumed change as Chairman again since 12-11-16 Mr. Veerapaneni Venkat Rathnam and Mrs. Y. Tripuramba are retired Senior Manager of Andhra Bank and Mr. B. Leela Krishnaiah a retired Manager of Canara Bank are the professional directors.
Bank's past Directors include Sri M. Gopala Krishnaiah, Retired GM, Sri RVV Satyanarayana Murthy, Retd. AGM, Sri J S. Sastry, Retd. AGM, Sri J Pullaiah, Retd. Dy GM, of Andhra Bank and Sri M. Sudarsana Babu, Retd. MD of Coastal Local Area Bank, Vijayawada.
Mr. P. Panduranga Rao, a highly qualified professional banker having varied managerial experience of 25 years in Andhra Bank is bank's MD since 21.03.2001. He had research experience at National Institute of Bank Management, Pune and authored a book on Excellence in Bank Branch Management based on his intensive research findings.
Socio-Spiritual Services
Navabharat Bank had been participating in socio - spiritual services since inception; sponsored 14 lectures of Dr. Mantena Satyanarayana Raju and 6 lectures of Dr. K. Ramachandra Rao on Health and Nature Cure Practices since 2003. Sponsored 10 programmes of 5 days each of Dhanam Master on Kriyayoga and 2 Bhagavatham saptahams, 36 monthly seminars on Raw Food Diet. Dr. Ayyagari Venkatachalam S/o. Dr. A.S. Rao of US also gave a lecture on health and diabetes management in bank's premises,
Neighbourhood development: Participated in clean and green programme and avenue plantation in the neighborhood. Bank's present socio-spiritual services include Free Daily Yoga classes from 5.30 AM to 7.00 am by Mr. D. Srinivasa Reddy, President, Bharat Swabhiman, RR Dist; Weekly Meditation classes from 5.30 pm to 7.00 pm on Tuesdays at bank by Mr. Janardhan Reddy. Retd. Jt. Director of Agriculture.
Monthly lectures on spirituality - Bharateeya Guruthatvam from 6.00 pm to 8.00 pm on 2nd Saturdays by Sri VSR Murthy, Spiritual scientist; Monthly lectures by eminent personalities on Human Excellence... the Life Science, generally on 4th Saturdays from 6.30 pm to 8.00 pm.
Navabharat Bank is the only bank that offers 1% additional interest on term deposits of Charities, Widows, Mentally/Physically challenged citizens; pays interest @10% pa remits it free of charges to anywhere in India. Annual Navabharat Ratna Awards: Navabharat Bank has accepted the responsibility of selection of distinguished personalities of eminence with exceptional achievements and social service and also presentation of Navabharat Ratna Awards annually.
Vivekananda Kendra Sakha of the neighborhood is functioning from bank's premises. Bank conducted Vivekananda Centenary Celebrations on 16.1.2016, encouraging youth in nation building. Navabharat Sr.Citizens Forum and Bankers Club of Kapra are formed with headquarters at the bank with an objective of nation building through developing professional excellence among bankers. Bank Officers working in banks located in GHMC Kapra Circle and retired Bankers from anywhere can become its members. IIBF Sub Centre is sought to be opened at the bank and an application is made to IIBF, Mumbai.
Bank has been conducting Patriotic Songs Singing Contests, Essay Writing and Elocution contests on National festivals among school children and presenting certificates and prizes; motivating students and teachers to be patriotic and ideal citizens.
Navabharat Ratna Awards
Navabharata Ratna will be awarded in recognition of exceptional service/ performance of the highest order in any field of human endeavor with transformational leadership for furtherance of peace and tranquility. Any person without distinction of race, occupation, position or sex is eligible for Navabharata Ratna Awards. On conferment of the award, the recipient receives a cash award of Rs. 1,00,000 and a Certificate from the Jury constituted for selection of the Awardees. A commemorative brochure giving out brief details in respect of each award winner is also released on the day of the investiture ceremony. Navabharata Ratna Awards formally will be presented on the last sunday of every year in the Foundation Day Celebrations of Navabharat Bank. The cash awards will be presented from out of the endowments made by sponsors.
Mrs.P.Usha Rani, W/o. P. Panduranra Rao our MD and his family sponsored cash awards of Rs. 1,00,000/- each for three awardees for the year 2015. Three distingueshed personalities Sri V.S.R. Moorty, Sri MVLN Seetharam and Sri B. Ramabrahmam were conferred with Navabharat Ratna on 27-12-2015. Bank proposes to confer the awards on 6 personalities on 25-12-16. Mr. P. Panduranra Rao's family will present Rs. 2,00,000/- towards cash awards of Rs. 1,00,000/- each to 2 Navabharat Ratnas every year and contributed Rs. 6,00,000 for 2016.
Person interested in presenting Navabharata Ratna Awards on their behalf or in memory of their beloved can invest the required corpus in the Endowment Deposits Scheme of the bank and authorize the bank to present the prize money to the selected awardees. The scheme facilitates hassle free presentation of the awards to the deserving personalities. The donors are relieved of the responsibility of arduous selection of the deserving personalities, arranging expensive ceremonial functions. The sponsors can participate in the Award Presentation Ceremony and present the awards.
A Navabharata Ratna Endowment Deposits fetch interest @9% pa. that will be utilised for praising to a distinguished personality. One or more persons desirous of sponsoring a Navabharata Ratna Award in their name can make one or more deposits that yields interest aggregating to Rs.1,00,000/-. Navabharat Bank is the only bank that pays additional interest of 1% on the Endowment Deposits for the purpose of presenting Awards to distinguished personalities in recognition of their exceptional service of the highest order. The objective of Navabharata Ratna Endowment Deposit scheme is to motivate youth positively to aim at the Award and strive to achieve it by their contributions towards peace and tranquility of mankind. Similarly it is to facilitate the public to contribute their mite to recognize and reward the deserving distinguished personalities. Prospective Donors desirous of making endowment deposits of varied amounts for similar purposes can contact the bank to design a scheme that suits to their objective.
