India Post News Service

CHICAGO: From a mere $23 million asset bank a decade ago to now over $1.4 billion asset bank, the Chicagoland situated Mutual Bank easily can claim to be the largest single NRI owned bank in the country, according to Pethinaidu Veluchamy, Chairman of the bank.

The well capitalized bank, he said, is set for further expansion in the coming year with the management planning to branch out to Atlanta and California. The bank recently opened a branch in Aurora in Illinois while earlier it had set up its full fledged facilities in New York New Jersey. With the Aurora branch, the Bank operates from seven locations in Chicagoland besides its head quarters in Harvey.

Veluchamy was addressing a very well organized and a very well attended Diwali celebrations program at the Meadows Club in Rolling Meadows, a north - west side Chicago suburb last week. "The growth of the bank is due to the confidence reposed in us by our depositors and the support from the community.

In no small measure it is also due to the hard work put in by the bank CEO and President, Amrish Mahajan as also the unwavering commitment shown by the staff," he said amidst applause.Veluchamy did not need any introduction but still formal part was done by Neena Shetty who emceed the event quite gracefully and very diligently.

She also introduced Amrish Mahajan, the next speaker and the chief guest, Shashi Tharoor, the former under secretary United Nations. Mahajan in his short speech dwelt on the achievements of the bank under the leadership of Veluchamy and his family members, the largest shareholders, and underlined the fact that besides capital, good management, employees performance and the community support were key factors in the stupendous growth that the bank has registered in the recent past. He introduced key pillars among his staff and specifically mentioned all the members of the Board and Jim Regas, who he described as his mentor.

He thanked a large number of business people and the media who were present on the occasion and ended his speech with a Sanskrit verse- Tamso Ma Jyotirgamay- which would mean O God lead us from darkness to enlightenment.Shashi Tharoor was the key note speaker and he really lived up to the expectations of 700 plus members of the audience with his lively speech punctuated with a great sense of humor and enlightenment. He talked bout India and the problems that the country faced and faces even now.

He verbalized his observations beautifully pointing out the pluralistic society that India has and yet the progress that it has notched despite pulls and counter pulls in recent years. He compared India with the US and other countries highlighting the great diversity that India has, and yet the inner strength that binds it as a nation. He underlined the fact that it was democratic set up and democratic process of decision making that helped it notch progress despite crisis.

The other highlights of the three hours program were Bhangra performance by Northwestern University Bhangra team and live bank the Gentlemen of the Leisure Band. The culmination of the performance by the bank was when its lead singer came out with a most popular Bollywood song Jhalak Dikhlaja.

It was well received by the audience. Present on the occasion among others were Ashok Kumar Attri Indian consul General, Rumy Khariwala Air India Sales Manager, Darshan Singh Dhaliwal, Niranjan Shah, Mafat Patel, Moti Agarwal, Amrit Patel, Birju Bhagat, etc. Amrish Mahajan proposed a vote of thanks