Highlights of the month 
                                                           FY  2019 - 20

Managing Committee monthly meeting was held on 17.08. 2019 at 5.00 p.m..
Number of members present: 12

Position of inflow of funds during the month, 01.08.2019 to 31.08.2019 and cumulative for the year as on 31.08.2019 are given below.

 

        For August.  2019

  Cumulative till
31. 08. 2019

   Number Rs. Number Rs.
Patrons 1 1,000  6 6,000
Endowments :NEW 5 1,75,000 7 4,75,000
Endowment-Addition 8 1,78,000 42 8,27,500
Donations 1 10,000 5 5,34,560 
Foreign Loan Scholarship Fund. - - 3 2,00,000
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TOTAL : 3,64,000 

23,69,560   

  1. Mminutes of the last meeting held on 17.08.2019 was read and confirmed. Chairperson and the Secretary were authorised to sign the minutes.
  2. The Chairperson then read out the details of endowments, donations, patrons and other funds received by the League during August 2019.  The same was taken on record by the League.
  3. Shri Anand Shanbhag stated that the Government has come up with some packages for revival of economy. The Government expenditure will go up and therefore the government will have to offer better returns to mobilise funds. Hence the interest rates are likely to increase if that happens. Therefore, it is not advisable to lock funds in long term investments of more than 1 year. We should consider the option of investing in short term Fixed Deposits with banks for some time till matters become clear.
  4. Shri. Ramesh Bhandarkar informed that interest has been received from Cent Home Finance. He has proceeded to withdraw the remaining FDs of Rs. 38 lakhs.
  5. There was discussion on the sudden crisis/crash of Punjab & Maharashtra Co.op Bank and the need to review League’s FDs in three other Coop Banks. Investment Committee will meet on 04.10.19 to assess the situation and recommend further action. ( League has NO deposits in PMC Bank )
  6. The League’s Ranga Pooja during the just concluded Sri Ganapati Festival was held on Tuesday 10th September 2018

 

       
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