PMC Bank Instituted M R Pai Memorial Award 2018 Presented to NGO With a Focus on 'Reformation of Youths'

MUMBAI, October 3, 2018 /PRNewswire/ --

Punjab & Maharashtra Co-operative Bank Ltd (PMC Bank) instituted prestigious 'M R Pai Memorial Award' for the year 2018 was presented to Mumbai based Kherwadi Social Welfare Association for its flagship program - YUVA PARIVARTAN. The award given at the annual event held in Mumbai consisted a cheque of Rs. 2.50 Lakh and Citation. The award was presented by Chief Guest Dr. Ashima Goyal - Professor Indira Gandhi Institute of Development Research & Member of the Prime Minister's Economic Advisory Council to Mr Kishor Kher - Founder of Kherwadi Social Welfare Association.

M R Pai Memorial Award is given to the outstanding Activist/Journalist or Social Organization for its significant contribution towards the betterment of citizens. 

The luminaries who attended the award event and addressed the gathering in the evening included: Mr Arvind R. Doshi - Executive Chairman, Premier Auto Electric Ltd.; Mr S.S. Bhandare - President, All India Bank Depositors Associations (Mumbai);  S. Waryam Singh - Chairman, PMC Bank; Mr Joy Thomas - Managing Director, PMC Bank. Also Mr V. S. Palekar - Trustee, The A.D. Shroff Memorial Trust and wife of Late M R Pai - Ms Gita Pai were present on the occasion.

While addressing the gathering on the occasion S. Waryam Singh - Chairman, PMC Bank said, "PMC Bank's decision to institute an award in memory of Great M R Pai was taken at a spur of moment by our late Chairman - Mr Chadda in the condolence meeting of Late M R Pai, way back in year 2003. Today after 14 years we consider ourselves as very fortunate to be associated with the memorial of Late M R Pai who worked rigorously for consumer rights. Going with the time, from this year we have decided to increase the amount of award from Rs. 1 Lakh to Rs. 2.50 Lakh."

Dr Ashima Goyal in her keynote address threw light on various burning issues of the banking like state of PSBs, NPA, and Circumstances for Defaults, Vigilance, Disciplines and the Changes required. Dr Goyal praised this excellent joint initiative of All India Bank Depositors' Association (AIBDA) and PMC Bank.

About PMC Bank:
Punjab & Maharashtra Co-operative Bank is a Multi-state Scheduled Urban Co-operative Bank with its area of operation in the States of Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh and Madhya Pradesh. The humble beginning of the Bank was done in a small room at Sion, on February 13, 1984 as a single branch Bank. In a span of 33 years, the Bank has a wide network of 134 branches across six states. The Bank stands among top 10 co-operative banks of the country. The Bank was conferred with Scheduled Status by the Reserve Bank of India in the year 2000.It is the Youngest Bank to achieve the 'Scheduled Bank' status. The Multi-state Status was conferred on the Bank by the Central Registrar in the year 2004.The Bank thus entered into the National platform. The Bank was given the Authorised Dealer Category I License by the Reserve Bank of India for Forex business in the year 2011. The Bank has a number of firsts to its credit and takes pride in having a number of unique features like :- 12 hours uninterrupted service from 8 am to 8 pm in most of its branches, 360 days banking (Sunday and Holiday Banking),Token-less banking (Tellers for any amount of cash withdrawal), Set up of self-service counters for customers and Tele-banking service.

To know more about PMC Bank Visit : www.pmcbank.com

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