This document provides information about a project submitted on the Naval Dockyard Co-operative Bank. It includes an index listing topics such as the introduction and origin of cooperative banks, the structure of this particular bank, its features, directors and members, office bearers and subcommittees, deposit and loan schemes, and bye-laws. Tables show the bank's deposits and advances from 2009-2010 to 2011-2012. The document also describes the membership and paid up capital of the bank as of March 2012, as well as the reserve and other funds.
This document provides information about a project submitted on the Naval Dockyard Co-operative Bank. It includes an index listing topics such as the introduction and origin of cooperative banks, the structure of this particular bank, its features, directors and members, office bearers and subcommittees, deposit and loan schemes, and bye-laws. Tables show the bank's deposits and advances from 2009-2010 to 2011-2012. The document also describes the membership and paid up capital of the bank as of March 2012, as well as the reserve and other funds.
This document provides information about a project submitted on the Naval Dockyard Co-operative Bank. It includes an index listing topics such as the introduction and origin of cooperative banks, the structure of this particular bank, its features, directors and members, office bearers and subcommittees, deposit and loan schemes, and bye-laws. Tables show the bank's deposits and advances from 2009-2010 to 2011-2012. The document also describes the membership and paid up capital of the bank as of March 2012, as well as the reserve and other funds.
Submitted By- VIBLE VARGHESE M. COM. (BANKING AND FINANCE) SEMESTER I ROLL NO: 46
Submitted To- UNIVERSITY OF MUMBAI Project Guide: Prof. MUGDHA KESKAR VPMs K.G. Joshi College of Arts & N.G. Bedekar college of commerce Chendani bunder road, Thane (w) - 400601 Tel: 25332412 ACADEMIC YEAR 2012-2013
THE NAVAL DOCKYARD CO-OPERATIVE BANK
INDEX
SR No. TOPIC 1 COOPERATIVE BANK- INTRODUCTION 2 COOPERATIVE BANK- ORIGIN 3 STRUCTURE OF COOPERATIVE BANK 4 FEATURES OF COOPERATIVE BANK 5 DIRECTORS AND MEMBERS 6 OFFICE BEARERS AND SUB COMMITTEE 7 DEPOSITS OF THE BANK 8 LOANS AND ADVANCES 9 LOAN SCHEMES OF THE BANK 10 BYE-LAWS 11 DISCLSOSURE AS PER RBI GUIDELINES
12 FIVE YEARS AT A GLANCE 13 BALANCE SHEETas on 31st March 2012 14 QUESTIONNAIRE:
Acknowledgement In brief, this project has taught me the basic fundamental of THE NAVAL DOCKYARD CO-OPERATIVE BANK. I take this opportunity to thank the people who have helped me in preparing my project.It gives me immense pleasure in expressing my gratitude to my project Guide Prof. MRS MUGDHA KESKAR for giving her precious time and helping me in completing my project. I would also like to thank Prof. Mr. D. M. Murdeshwar (co-ordinator), our principal Dr (Mrs) S. A. Singh, for their valuable suggestion and support provided during the project and also for library staff for providing the books whenever demanded by us. I thank them for being informative and tolerant. I would not have been able to complete my project without sincere guidance of the above mentioned people whose presence was blessing in disguise for me which motivated me to complete my project on time.
Declaration I VIBLEVARGHESE the student of Joshi Bedekar college presently studying in M.COM(BANKING AND FINANCE) Semester 1 th hereby declare that I have completed these project on Business ethics and scams in financial sector in the academic year 2011-2012. The information submitted is true and original to the best of my knowledge.
Sign (Student name)
COOPERATIVE BANK Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world. Cooperative banking includes retail banking carried out by credit unions, mutual savings banks, building societies and cooperatives, as well as commercial banking services provided by mutual organizations (such as cooperative federations) to cooperative businesses.
Origin The history of co-operative movement in India is about a century old. The movement was started in India with a view to encourage and promote thrift and mutual help for the development of persons of small means such as agriculturists, artisans and other segments of the society. It was also aimed at concentrating the efforts in releasing the exploited classes out of the clutches of the money lenders. Keeping this as one of the objectives, credit societies were formed under Co-operative Societies Act of 1904. The 1904 Act was largely based on the Eng_ish Friendly Societies Act, 1896 . Under this Act, only primary credit societies were permitted to register and non-credit and federal organisations of primary co-operative credit societies were left out. This lacuna was bridged by the Co-operative Societies Act, 1912. This Act paved the way for the organisation of central co-operative banks throughout the country. But the provisions of 1912 Act were inadequate to meet the requirements of those states where co-operative movement had made considerable progress. Bombay, the pioneers in this regard passed a new Act, viz., the Bombay Co-operativeSocieties Act, 1925 for serving the many sided development of the state. Later on, Madras, Bihar and Bengal passed their own Acts in 1932, 1935 and 1940 respectively.
Structure of Co-operative Banking in India India's co-operative banking structure consists of two main segments, viz., agricultural and non- agricultural credit. There are two separate structures in the case of agricultural credit - one for short and medium term credit and the other for long term credit. The co-operative credit structure for short and medium terms is a three tier one with primary agricultural credit societies at the base level, the central co-operative bank at the district level and state co-operative bank at the apex level. Over and above these institutions, grain banks are actively functioning as primary societies in certain states. Though the organisation of central and state co-operative banks was mainly for the benefit of the agricultural credit sector, they serve non-agricultural societies too.
Features of Cooperative Banks Co-operative Banks are organised and managed on the principal of co-operation, self-help, and mutual help. They function with the rule of "one member, one vote". Function on "no profit, no loss" basis. Co-operative banks, as a principle, do not pursue the goal of profit maximization. Co-operative bank performs all the main banking functions of deposit mobilization, supply of credit and provision of remittance facilities. Co-operative Banks provide limited banking products and are functionally specialists in agriculture related products. However, co-operative banks now provide housing loans also. UCBs provide working capital loans and term loan as well.
THE NAVAL DOCKYARD CO OPERATIVE BANK The cooperative bank consist of various Directors and members such are as follows HONORARY BOARD OF DIRECTORS PRESEDENT REAR ADMIRAL A.V. SUBHEDAR (VSM) REAR ADMIRAL A.K. BAHL (VSM) VI CE PRESI DENT COMMODORE SANJEEV NAYAAR COMMODORE VK SAXENA HON. LEGAL ADCI SOR COMMODORE PK DOSHI (AGM) CAPTION A.K. SHARMA DGM) HON. FI NANCI AL ADVI SOR SmT MAULISHREE PANDE (Jt CDA) HON. TREASURER Shri S.K .KHANVIKAR MEMBERS ShrI S.M. ACHAREKAR ShrI M.K. BHASKARAN Shri G.G. GODE Shri P.L. JAGTAP Shri B.C. JAMBHULKAR
The cooperative bank consist of various Directors and members such are as follows
STAFF REPRESENTATI VE Shri D.S. MORE Shri L.G. SADAVARTE CHI EF EXECUTI VE OFFI CER Shri SURESH M.SHINDE. DYCHI EF ESECUTI VE OFFI CER Shri ASHOK S GAONKAR ASST. ACCOUNTANT Shri DWARKANATH G BORKAR SR. AUDI T OFFI CER Shri RAMESH B. KULKARNI Shri MUKESH M PARAB I NTERNAL AUDI TORS M/s SA MRE AND Co.
OFFI CE BEARERS AND VARI OUS SUB COMMI TTEE:- A) OFFI CE BEARERS Shri D.G. KADAM, HON. SECRETARY Shri S.K. KHANVIKAR, HON. TREASURER B) LOAN SUB COMMITTEE Shri PRAMOD R. KAMBLE Shri S.M. ACHREKAR Shri D.C. JAMBHUKAR Shri S.A. PATIL Shri A PARKAR C) AUDI T SUB COMMI TTEE Shri P R KAMBLE Shri V D SAWANT Srhi P. K JAGTAP D) PURCHANCE SUB COMMI TTEE Shri P.R. KAMBLE Shri V.N. JAMDADE E) STAFF RELATI ON SUB COMMI TTEE Shri G.G. GODE The sub committees ar formed for the day to day smooth functioning of the Bank. These sub committees are as paer the Bye laws of the bank. They have limited rights. The decisions recommendation of the sub-committees are finally approved in the meeting of the Board of Directors
MEMERSHI P The number of shareholders which was 16306as on 31 st March 2011 is now 16252 after admitting 630 new members and considering resignation, retirements, deaths and forfeiture of 684 members by close of the year 2011-2012
PAI D UP CAPI TAL The paid up capital of the bank which was Rs 755.77 lakhs as on 31 st March 2011 stod at Rs 764.68 lakhs as on 31 st March 2012
RESEVE AND OTHER FUNDS:- There was substanitial increase in the Reserve Fund and other Reserves of the Bank which has gone up from Rs 1094.50 lakhs to Rs 1278.15lakhs on 31 st March2012
Deposit and Loan schemes of The Naval Dockyard Co-operative Bank Bank
Type of Deposits 2009-2010 2010-2011 2011-2012 Savings Bank Deposits 4722.22 5649.98 6501.63 Fixed Deposits 1304.46 1459.52 1092.82 Compulsory Deposits 5880.21 7442.54 8902.15 Recurring Deposits 225.35 275.82 381.7 D.J.D.B. Scheme 3972.38 5099.85 4318.35 P.J.D. Scheme 894.83 81.71 16.71 Fixed Depsoits (Qtly. Int.) 3254.71 2753.11 2596.03 Matured Deposits 23.84 19.3 17.36 Others 19.64 38.29 34.04 Glorious - 275 Deposit 633.75 4.56 Super Six 666 days 400.51 Fixed Deposit 444 days 88.93 Fixed Deposit 333 days 2807.15 Monthly Income Scheme 97.2 Daam Duppat Yojana-87 Month 79.13 Total 20297.64 23453.87 27338.27
ADVANCES
TYPE OF LOANS 2009-2010 2010-2011 2011-2012 Loan against Deposit (S.T.L) 1688.59 2145.43 2503.72 Long Term Loan 11996.83 17039.34 18939.19 Staff Housing Loan 56.57 77.46 76.34 D.K.G. Yojna (Hsg. Loans) 574.98 706.97 603.09 Total 14316.97 19969.2 22122.34
Deposit Schemes In this section Bank provides information of it's various deposit schemes
Important Notice to Depositors: As per section 206AA introduced by Finance (No. 2) Act, 2009 wef 01.04.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20%(as against 10% which is existing TDS rate) in case of Domestic deposits and 30.90% in case of NRO deposits Please further note that in the absence of PAN, Form 15G/H and other exemption certificates will be invalid even if submitted & penal TDS will be applicable. Please visit nearest The Naval Dockyard Co-operative Bank Bank branch to submit or confirm updating of your PAN with the bank.
Savings Deposit A Savings Account for everyone to inculcate the habit of saving and avoid thrift. Bank offers a host of convenient features and banking channels to transact through. Personalized service coupled with technology enabled products is the hallmark of our service. Bank offers a debit card. All the services are offered with very simple terms and conditions and minimal charges. The salient features of the saving account are given as under Bank conveniently with facilities like Net Banking - Check your Account Balance. Take advantage of Easy Pay, an instant solution to all your frequent utility bill payments Free Personalized Cheque Book with name printed on each cheque leaf for enhanced security . Avail of facilities like Safe Deposit Locker .
Free Passbook facility available at home branch for account holders (individuals). All the above facilities by just maintaining an average quarterly balance of Rs 1000/- Penalty / Service Charges For Non-Maintenance of minimum average quarterly balance of Rs 1000/- Rs 150/- per qtr as penalty.
Account Closure Charges If within 6 Months Rs.200 plus Charges for unutilized cheques leaves @Rs.5 per leaf. If Within 1 year Rs 150 /-plus charges of unused cheque leaf at Rs 5 per leaf unused cheque leave charges are applicable to all accounts which are closed.
Current Deposit Fasten your pace with a current account which offers out of the world service experience by combining personalized service with many appropriately priced features. Our customer friendly staff will not leave any stone unturned to makes a memorable one. Internet Banking all will allow you to Bank from the comfortable confines of your home and office. All our branches are on Core Banking which allows you free transfer of funds from one account to another at any branch. Bank conveniently with facilities like Net Banking and - Check your account balance.
Avail of facilities like Safe Deposit Locker . Free monthly statement. Avail Personalized chequebook for enhanced security at nominal prices . Take advantage of Easy Pay. An instant solution to all your frequent utility bill payments. Free Cash Deposit/withdrawal from any branch of The Naval Dockyard Co-operative Bank Bankup to Rs 25000. Free transfer to any account in any branch of The Naval Dockyard Co-operative Bank through Any Branch Banking .
1. Service Charges Non-Maintenance of minimum average quarterly balance require to pay service charges of Rs. 600/- per qtr.
2. If account closed within 6 months Rs 500 +charges for unused cheque leaves at Rs 2 per leaf.
3. If closed within 1 year Rs 250 +charges for unused cheque leaf at Rs 2 per leaf. Cash Deposit/Withdrawal charges Upto Rs 25000 free
Amount of cash deposited / withdrawn Service charge Rs 25001 Rs 50000 Rs 25 Rs 50001 Rs 100000 Rs 50 > Rs 100000 Rs 50 per lakh or part thereof
Fixed Deposit Schemes Term Deposit - Interest Payout Schemes (Interest - Half Yearly , Quarterly, Monthly ) Cumulative I nterest Schemes Eligibility Individuals (singly or jointly), Minor by guardian, Organizations, Co-op. Societies
Minimum Balance Rs. 1000/- and further rise in multiples of Rs. 100/-
Rate Of I nterest
Special Features/Facilities TDS applicable Form 15H/15G required to be submitted for exemption of TDS. Nominal member of the bank will also be exempted from TDS. If you are exempt from paying tax, you need to present Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following financial year.
Charges / Penalty In case of payment before maturity Interest upto 15 days will be Nil Above 15 days : 1% less than applicable rate of Interest for the actual period for which deposit is kept with the Bank. Account closure : As above, if payment is before maturity
Recurring Deposit We can invest in small amounts every month and see the drop become an ocean. Through this account you can invest small amounts of money every month and end up with a large kitty on maturity. Bank also allows you facility to give standing instructions by which the amount is debited from your account every month . For further details Eligibility Individuals (singly or jointly), Minor by guardian, Organisations, Co-op. societies Minimum Balance Minimum monthly installment is Rs. 5/- Special Features/ Facilities No TDS Penalty/Service Charges Penalty for delayed monthly installment Rs. 1.50 per Rs.100 p.m. In case of payment before maturity, Interest upto 15 days will be Nil
Above 15 days : 1% less than applicable rate of Interest for the actual period for which deposit is kept with the Bank . Scheme applicable only for more than 18 months and less than 24 months
LOANS AND ADVANCES This year there has been substantial rise in STL<L The position of outstanding Loan Balances are given below: Sr No. TYPES OF LOANS O/S as on 31/3/2011 O/S as on 31/3/2012 I ncrease/Deecrease 1 Loan against Deposit (S.T.L.) 2145.43 2503.72 +358.26 2 Long Term Loan 17039.34 18939.19 +1899.85 3 Staff Hsg.Loan 77.46 76.34 -1.12 4 DKGY housing Loan 706.97 603.09 -103.88 TOTAL 19969.20 22122.34 +2153.14
C D RATI O & COST OF DEPOST & ADVANCES:- We would like to inform the Members that we have enhancedthe loan limit to fulfill the requirement of Members Due to this enhancement we have made loaning at higher side. Our CD ratio reached to80.92% Considering the changing scenario tn Banking Sector there is tremendous competition in the rate of interest in Outside Bank. There is higher rate of interest on deposit in outside Banks. RBI have periodically reviewed their policy and changed the interest rate on Term Deposit as well as saving deposits well as Saving Bank Deposit. Due to this we bound to revise the rate of interest on deposits. Subsequently to maintain the balance of deposits cost we were constrained to increase the rate of interest on asvances. We hope members will inderstand the situation and co-operate with us
I NTERNAL CONTROL As directed by the Reserve Bnk of India , the Bank has continued to carry out the Concurrent Audit and appointed M/s s.a.More & Co. chartered Accountants, as Concurrent Auditor during the year under report, which ensured checking of day-to- day transactions as per the norms prescribed by the RBI in this regard
RELATI ONSHI P WI TH STAFF The relation between the Management and the staff of the bank is very cordial. The management place on record the dedicated services rendered by the officers and the staff for the general development and progress of the Bank
BYE -LAWS BYE LAW No. ESISTING BYE LAWS BYE LAW No AMMENNDED BYE LAWS REASON 8(1) The authorized share of the Bank is Rs 100000000/- and divided into each 8(1) The authorized share capital of the Bank is Rs 200000000/- and dicided intio Rs 8000000/- shares of Rs25/-each To enchanceindivi dual share capital 12(1) The maximum shareholding shall be as prescribed under Maharashtra Co-op Societies Act and Rules from time to time subject to maximum of Rs5000/- 12(1) The maximum shareholding shall be as prescribed under Maharashtra Co-op Societies Act and Rules from time to time subject to maximum of Rs 7500/- As per RBI guidelines to meet requirement of CRAR
BYE -LAWS BYE LAW No. ESISTING BYE LAWS BYE LAW No AMMENNDED BYE LAWS REASON 43(I I I ) Every member of the bank shall subscribe to the Compulsory Deposit Account every month. A sum according to the following scales based on the amount of basic pay earned by him Sr no BASI C PAY CD Contibutio n per month 1 4750/- To 7499/- 200/- 2 7500/- To 11500/ - 300/- 3 11500/ - &abov e 400/-
43(I I I ) Contribution towards CD from the members will be dicided by the Board of Directors from time to time. Tis fund will be mobilizes by calling lump sum Deposit in lump sum. The Board of Directors reserve the right to amend the same from time to time. The Contribution towards CD will not be less than as prescribed in the char shown below Sr no BASI C PAY CD Contibutio n per month 1 4750/- To 7499/- 200/- 2 7500/- To 11500/ - 300/- 3 11500/ - &abov e 400/-
To mobilize fund
I NVESTMENTS The investment of the bank which was rs 5683 lakhs as on 31 st march 2011 is now Rs 6824.45 lakhs PROFI T AND APPROPRI ATI ONS The bank earned gross profit of Rs 759.90 Lakhs during the year 2011-2012 against Rs 356 lakhs in the previous year. After making the various provisions of Rs 386 lakhs, the bank earned a net profit of Rs 373 Lakhs The detail distribution of profit for the three years is as follows PARTICULARS 2009-10 2010-11 2011-12 Net profit during the year 19061761.68 19216839.92 37311361.40 Add. Bal. profit B/F last year 988.24 1729.44 1637.02 Net profit for appropriation 19062749.92 19218569.36 37312998.42 Statutory reserve@25%(09- 10,10-11)@47% in 11-12 4765687.48 4804642.34 27537109.26 Dividend 15% 10672933.00 10335790.00 11408600.00 Ednl. Aid @250/- per member(09-10,10-11)@500/- for 2011-12 3622400.00 4076500.00 8126000.00 Investment flucation Reserve fund ------------ --------------- 240000.00 Total appropriation 19061020.48 19216932.34 37311709.26 C/F for next year 1729.44 1637.02 1289.16 Net Profit For Appropriation 19062749.92 19218569.36 37312998.42
DEPOSI T I NSURANCE All our deposits are protected to the extent of Rupees One Lakhs per party by the Deposit Insurance and Credit Guarantee corporation under the deposits Insurance act 1980. We have paid a sum of Rs 31 Lakhs as premium on various deposits to DICGC during the year11-12 WORKI NG CAPI TAL The working capital of the Bank has increased form Rs 282 lakhs as on 31 st march,11 to 318 lakhs as on 31 st march, 12 I NCOME TAX ON PROFI T The Central government has imposed Income Tax on Profit to the Profit to the Co-operative Bank form the Financial year2006-07 onward. This year we have paid advanced Income Tax of Rs 215 lakhs on our profit DI VI DEND The board of Directors are pleased to recommend the dividend for the period ended 31 st march 2012 @ 15% on prorate basis. We are proud to state that we have maintained the same rate of Dividend this year also
EDUCATI ONAL AI D The board of Director s have recommended Rs 500/- as Educational Aid as compared to Rs 250/- paid last year RESERVE BANK I NSPECTI ON Reserve Bank has Conducted inspection of the bank for the period 2009-10 and 2010-11 SHI FTI NG OF OUR TROMBAY BRANCH We are shifting our tormbay branch to new Premises near the old Branch shortly CORE BANKI NG SYSTEM For the prompt and quick services to the shareholders and depositors we proposed to introduce Core Banking System very shortly PROGRES OF BRANCHES It gives us immense pleasure to inform you that our Branches at Fort, Pawai< Ghatkopar, Trombay and Karanja(Uran), including Extn. Counter at N,T. Pool are working satisfactorily
DISCLSOSURE AS PER RBI GUIDELINES
SR No Particulars 31.03.2012 1 1 2 3 LEVEL OF CRAR Capital funds Adjusted value of funded risk Assests % of Capital funds to risk weighted assets
1965 19881.09 9.89% 2 AVERAGE COST OF DEPOSI T 7.48% 3 1 2 3 4 NON- PERFORMI NG ASSESTS GROSS NPA Net NPA % of Gross NPA to total advances % of Net NPA to net advances
146.93 0 0.66% 0% 4 1 2 3 4 MOVEMENTS I N NPAs Opening balance Add: additions during the year Less: Closed Closing Balance
158.07 43.65 54079 146.93 5 1 2
3 4 5
6 PROFI TABI LI Y Interest Income as a% of working funds Non-Interest Income as a % of working funds Operating Profit as a % of working funds Return of Assets Business( advances+ Deposits) per Employees Profit Per Employee
10.38 0.02% 2.39%
1.17%
706.58% 5.33 6
1 2 PROVI SI ON MADE TOWARDS NPA DURI NG THE YEAR Provision on NPA required to b e made Provision onNPA actually made
_________________ 7
1 2 PROVI SI ON MADE TOWARDS OVERDUE I NTEREST Provision required to be made Provision actually made
28.28 28.28 8
1 2 PROVI SI ON MADE TOWARDS DEPRECI ATI ON I N I NVESTMENTS DURI NG THE YEAR Provision required to be made Provision actually made
31.00 31.00 9 A MOVEMENTS I N PROVI SI ONS TOWARDS NPA Opening balance Add: additions during the year Less: Closed Closing balance
158.07 0.00 158.07 B TOWARDS DEPRECI ATI ON I N I NVESTMENTS Opening balance Add:Additions during the yeat Less: Closed Closing balance
0.00 31.00 0.00 31.00 C TOWARDS STANDARD ASSETS Opening balance Add: Additions during the year Less: Closed Closing balance
80.57 8.50 0.00 89.07 D TOWARDS OTHER ASSETS Opening balance Add: Additions during the year Less: Closed Closing balance
1.43
1.43 10 PREMI UM PAI D TOWARDS DI CGC For half ending Sept201and mar2012
31.38 11 PENALTY I MPOSED BY RBI FOR ANY VI OLATI ON
12 A i ii I NTERBANK ACCOUTS No of entries pending o/s amt arrears in interbank reconciliation
B i ii I NTER BRANCH ACCOUNTS No of entries pending O/s Amt
FIVE YEARS AT A GLANCE
PARTICULARS 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 Number of Members 16392 16287 16234 16306 16252 Share Capital 771.1 764.26 755.46 755.77 764.68 Recurring Deposits 196.61 196.37 225.35 275.82 381.7 Compulsory Deposits 4567.76 5165.4 5880.21 7442.54 8902.15 Fixed deposits 861.11 827.42 1304.46 1459.52 1092.82 Savings Bank 3396.96 3864 4722.22 5649.98 6501.63 Diamond J. Scheme 2090.42 2445.42 3972.38 5099.85 4318.35 Other Depsoit 16.57 16.02 19.64 38.29 34.04 Platinum J. Deposit 804.68 832.97 894.83 81.71 16.71 Fixed Deposit (Qtrly. Int.) 2194.43 2482.2 3254.71 2753.11 2596.03 Matured Depsit 115.1 23.84 19.3 17.36 Super Six 666 days 400.51 Fixed Deposit 444 days 88.93 Fixed Deposit 333 days 2807.15 Monthly Income Scheme 97.2 Daam Duppat Yojana-87 Month 79.13 Glorious - 275 Deposit 633.75 4.56 Total Deposit 14128.54 15944.9 20297.64 23453.87 27338.27 Gross Profit 352.22 510.44 347.58 356.03 759.9 Net Profit 121.32 153.44 190.62 192.17 373.11 Investmetn 3910.26 4589.65 7330.9 5683 6824.45 Rate of Interest (Medium Term) 13% 13% 12% 13% 13% Rate of Interest (Short Term) 11% 12% 12% 12% 12% Rate of Dividend 10% 15% 15% 15% 15% Reserve Fund 674.5 687.32 704.54 752.47 800.58 Other Reserves 222.28 282.12 310.57 342.03 477.50% Loan Outstanding 11655 12946.93 14316.97 19969.2 22122.34 Working Capital 16491.89 18756.49 23264.17 28240.85 31845.41
Balance Sheet as on 31st March 2012
Capital & Liabilities Current Year Previous Year Share Capital 1) Authorised Share Capital (40,00,000 Shares @ Rs. 25/-)
100,000,000.00
100,000,000.00 2) Subscribed & Paid up Shrae Capital (30,58,731 Shares @ Rs. 25/-)
76,468,275.00
75,576,875.00
Reserve Fund & Reserves Statutory Reserve Fund
80,058,083.82
75,247,141.48 Dividend Equilisation Fund
2,688,000.00
2,188,000.00 Reserve for Bad & Doubtful Debts
15,807,429.00
15,807,429.00 Development Fund
545,000.00
45,000.00 Staff Gratuity Fund
12,900,000.00
6,900,000.00 Contigent Provision for Standard Assets
8,906,571.00
8,056,571.00 Election Fund
1,150,000.00
150,000.00 Staff Relief Fund
200,302.00
96,302.00 Charity Fund
470,000.00
370,000.00 Advertisement Fund
160,000.00
60,000.00 Special Reserve u/s 36(1) (iii) of IT Act, 1961
530,000.00
530,000.00 Staff Leave Encashment Reserve
1,300,000.00 Ivnestment Depriciation Reserve
3,100,000.00
127,815,385.82
109,450,443.48 Secured Loan Overdraft with MSC Bank Ltd.
36,362,607.01
30,869,582.21
Unsecured Loan Cash Credit with MSC Bank Ltd
100,000,000.00
Deposit & Other Accounts Fixed Deposit
109,282,133.00 Compulsory Deposit
890,214,702.00 Recurring Deposit
38,170,353.00 Diamond Jubilee Deposit
431,835,236.00 Platinum Jubilee Deposit
1,670,624.00 Glorious - 275 Deposit
455,936.00 Quarterly Interest Certificate
259,603,404.00 Non Members Deposit
3,403,623.87 Matured Deposit
1,736,195.78 Savings Bank Deposit
650,162,363.30 Super Six 666 days
40,050,930.00 Fixed Deposit 444 days
8,892,994.00 Fixed Deposit 333 days
280,715,279.45 Monthly Income Scheme
9,720,000.00 Daam Duppat Yojana-87 Month
7,912,889.00
2,733,826,663.40
109,450,443.48 C/F
2,974,472,931.32
2,661,283,956.31
B/F
2,974,472,931.32
2,661,283,956.31
Bills for Collection Being Bills Receivable as per contra
834,884.89
3,175,966.80
Overdue Interest Reserve
2,828,101.79
1,557,946.43
Other Liabilities i) Prov for IT (08-09/10/11/12)
61,730,000.00
40,230,000.00 ii) Sundry Creditors
341,473.08
261,603.08 iii) Sundries
10,172,818.00
31,442,021.00
Unclaimed Dividends
577,205.00
577,705.00
Interest Payable
97,106,064.39
69,513,278.58
Profit & Loss Account Profit as per Last B/S
19,218,569.36
19,062,749.92 Less: Appropriation
19,216,932.34
19,061,020.48 Balance of Profit
1,637.02
1,729.44 Add: Profit for the year brought from the P&L A/c
37,311,361.40
3,185,376,476.89
19,216,839.92
Total
Property & Assets Current Year Previous Year CASH 2785918.00 30272950
CASH (ATM) 3031600.00 1644100
Balances with Banks i) Current Deposit (MSC/MDCC) 763000.00 ii) Current Depsoit (other banks) 58854982.76 iii) Fixed Deposits (MSC/MDCC) 131450000.00 iv) Fixed Deposits (other banks) 169951729
Investments i) In Central & State Govt. (at book value) 679439000 Face Value: 69,62,20,000 Market Value: 67,16,55,346 ii) Shares in MSC Bank Ltd. 3006000 iii) Shares in MDCC Bank Ltd. 100 568300100 Advances i) Loan against Deposit 250371931.3 ii) Medium Term Loan (LTL) 1893918665 iii) Hsg. Loan Members 60309026.62 iv) Hsg. Loan - Staff 7634179.25 1996920088 Interest Receivables i) On Investments 11234715 7461736 ii) On NPA of which overdues
Bills Receivables 3175966.8 Bills for Collection (As per contra) 834884.89
C/F 3124634003 2777726670
B/F 3124634003 2777726670
Machinery & Equipment Less: Sale of Asset 1243533.42 Less: Depreciation 112522.5
Furniture & Fixtures Add: Addition during tye year 4799039 Less: Depreciation 524012