The document provides an overview of the banking industry in India. It discusses the origins and evolution of banking in India from the late 18th century to present day. Key events include the establishment of the first banks in the late 1700s, the three Presidency Banks formed in the early 1800s which later merged to form the State Bank of India, and the nationalization of banks in 1969. The modern banking system consists of public, private, foreign and cooperative banks that operate under the regulation of the Reserve Bank of India. Cooperative banking movement has played an important role in rural development.
The document provides an overview of the banking industry in India. It discusses the origins and evolution of banking in India from the late 18th century to present day. Key events include the establishment of the first banks in the late 1700s, the three Presidency Banks formed in the early 1800s which later merged to form the State Bank of India, and the nationalization of banks in 1969. The modern banking system consists of public, private, foreign and cooperative banks that operate under the regulation of the Reserve Bank of India. Cooperative banking movement has played an important role in rural development.
The document provides an overview of the banking industry in India. It discusses the origins and evolution of banking in India from the late 18th century to present day. Key events include the establishment of the first banks in the late 1700s, the three Presidency Banks formed in the early 1800s which later merged to form the State Bank of India, and the nationalization of banks in 1969. The modern banking system consists of public, private, foreign and cooperative banks that operate under the regulation of the Reserve Bank of India. Cooperative banking movement has played an important role in rural development.
3.1.1 Banking Industry in India Banks are the financial backbone of any countrys economy. Without a sound banking system a country cannot have a healthy economy. A bank is a financial institution which deals with money and credit. It accepts deposits from individuals, firms and companies at a lower rate of interest and gives it at a high rate of interest to those who need them. In other words, a bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers with capital deficits to customers with surpluses. Banking is generally a highly regulated industry and government restrictions on financial activities have varied over time and locations. The origin of the term Bank derived from the Italian word banco, Latin word bancus, and the French word banque, which means bench. In other words the term bank is derived from the German word banck. Benches were used as desks or exchange counters during the renaissance by Florentine bankers, who used to make their transactions atop desks covered by green table cloths. 3.1.2 Definition of Bank According to Indian Banking Companies( Regulation) Act 1949 the term banking means accepting deposits for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdraw by cheque, draft or otherwise. Bank can defined as an organization, usually cooperation, chartered by a state or federal Government, which does most or all of the following; receives demand deposit and time deposits, honors instrument drawn on them and pays interest on them; discount notes, make loans and investment in securities; collect cheques, draft and notes; certifies depositors cheque and issues draft and cashiers cheques.
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3.1.3 History of banking in India The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. The most striking is its extensive reach. It is no longer confined to only metro politans or cosmopolitan India. In fact, Indian banking system has reached even to the remote corner of the country. Banking in India originated in the last decades of the 18 th centaury. The first bank in India was General Bank of India, through conservative, was established in 1786. And the Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three Presidency banks. There other two being the Bank of Bombay and the Bank of Madras; all three of which were established under charters from the British East Civil India Company. For many years the Presidency Banks acted as quasi-central bank, as did their successors. The three banks merged in 1921 to form the imperial Bank of India which, upon India independence; became the State Bank of India. From 1786 till today the journey of Indian banking system can be segregated into three distinct phases. They are mentioned below. Early phase from 1786 to 1969 of Indian banks Nationalization of Indian Banks and upto 1991 prior to Indian banking Sector Reforms. New phase of Indian banking system with the advent of Indian financial and banking sector reforms after 1991
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Chart 3.1 BANKING STRUCTURE IN INDIA
As far as the present scenario is concerned the banking industry is in a transition phase. The public sector banks (PSBs), which are the banking foundation of the Indian Banking system account for more than 78% of total banking industry assets. Unfortunately they are burdened with excessive Non-performing assets (NPAs), massive man power and lack of modern technology.
RESERVE BANK OF INDIA Commercial Bank Specialized Banks Co-operative Banks Development Banks Public Sector Private Sector Foreign Banks Primary Credit Society Central Co- operative Banks State Co- operative Banks 14
The private sector banks in India have immense progress. They are leaders in the internet banking, mobile banking, phone banking and ATM. On the other hand the public sector banks are still facing the problem of unhappy employees. There has been a decrease of 20% in employees strength of the private sector in the voluntary retirement schemes (VRS). As far as foreign banks are concerned they are likely to succeed in India. The various types of banks include; commercial bank, industrial bank, foreign exchange bank, agricultural bank, developmental bans, specialized banks etc. The organized sector mainly consists of money market, commercial banks, co-operative banks, regional banks etc. Unorganized sector comprises money lenders and indigenous banks. 3.1.4 Co-Operative Movement Introduction to co-operative movement Co-operation is as old as human civilization. England is considered to be the birth place of co-operative movement in world. It has been universally recognized that co- operation is the most potent remedy for the economically backward countries. In a poor country like India, co-operation played a very important role in the uplift of the masses. The co-operative movement which steered with a humble beginning at present embraces a variety of fields and has helped the less fortunate people in all walks of life by saving them from the exploitation of the capitalist and the middleman including them ideas of self-help and mutual help, it has created fellow feelings and has been instrumental in paying the way for a peaceful and prosperous society. Co-operative movement in India Co-operative movement was introduced in India as a state policy. It was formally inaugurated by the enactment of co-operative Credit Societies Act of 1904. Government was the prime mover of the co-operative movement of India. To some extent, the idea of co-operation was borrowed from western countries. In 1901, a committee under the chairmanship of Sir. Edward Law was appointed by the Government of India to consider the question of introducing co-operative societies in India. This committee recommended 15
the Raiffeisen type societies as the best suited to Indian conditions. As a result the first co-operative Credit Societies Act of 1904 was passed. A new Act was passed in 1912 which removed the defects of previous Act and provided scope for all round development and progress of the movement.
Co-operative movement in Kerala When Kerala state was newly organized in 1956, by merging the Travancore-Cochin state and Malabar, which is the part of former Madras state, two different co-operative laws were in operation, which is Travancore-cochin co-operative Societies Act of 1951 in Travancore Cochin and Madras co-operative Act of 1932 in the Malabar area. Hence from the very inception of the state, there was the necessity for a uniform legislation covering the above two areas. Hence certain changes in the existing laws were also inevitable to suit the present stage of development of the co-operative movement. There by Government took initiative to bring new legislation. But since however it was prolonged and could not be materialized. Finally in 1956, the present Act called Kerala Co-operative Societies Act was passed.
3.1.5 CO-OPERATIVE BANKS A co-operative bank is an institution established on Co-operative basis dealing in ordinary banking business. Co-operative bank is mutual society formed, composed and governed by working people themselves for encouraging regular saving and granting small loans on easy terms of interest and repayment. A Co-operative organization is a voluntary association with unrestricted membership, and collectively owned funds, organized on democratic principles of quality by person of moderate means and incomes who joint together to supply their needs and wants through 16
mutual actions in which motive of production and distribution is service rather profits. Co-operative banks means, people who came together jointly to serve their common interest often from a co-operative society under the Co-operative societies Act. When a co-operative society engages itself in banking business it is called a Co-operative bank. The society has to obtain a license from the RBI before starting banking business. Any co-operative bank as a society is to function under the overall supervision of the Registrar, Co-operative societies of the State. As regards banking business, the society must follow the guidelines set and issued by the RBI. There are three types of cooperative societies in our country. They are:- 1) Primary Credit Societies These are formed at the village or town level with borrower and non-borrower members residing in one locality. The operation of each society are restricted to a small area so that the members know each other and are able to watch over the activities of all members to prevent frauds.
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2) Central Co-operative Banks These banks operate at the district level having some of the primary credit societies belonging to the same district as their members. These banks provide loans to their members (i.e., primary credit societies) and function as a link between the primary credit societies and state co-operative banks. 3) State Co-operative banks These are the apex co-operative banks in all the states of the country. They mobilize funds and help in its proper channelization among various sectors. The money reaches the individual borrowers from the state co-operative banks through the central co-operative banks and the primary credit societies.
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3.2 COMPANY PROFILE Calicut City Service Co-operative Bank Ltd. Number D.2777 as per rule 15 1(A) 3(a) was registered as a co-operative society under section 21 of Act 1969 on the basis of limited liability. The Calicut City Service Co-operative Bank registered on 24-07-2002 and started at 28/09/2003. It is a service co-operative bank working under the primary co-operative bank. At present Calicut City Service Co-operative Bank has on area of operation of the entire Calicut Corporation. Calicut City Service Co-operative Bank was started for providing banking service related to deposits, loans, and group deposits and credit schemes. The Bank provides modern facilities like core banking for making the banking activity easier. Calicut City Service Co-operative Bank has got on ISO 9001-2008 certification, for its best performance. Calicut City Service Co-operative Bank is Keralas second service bank. A lot of thrust is given by the bank in providing its customers with maximum facilities. Already the bank provides a good number of interesting deposit schemes and loan plans. Core banking is also being implemented to provide better facilities for their customers. The process is in its completion stage. Calicut City Service Co-operative Bank started on 2002 July 25 th as a registered bank. It is registered under the Act of Sec (21) of Kerala State Co-operative Act and rules of 1969. But the banking activity as started on 2003 February 18 th . It was inaugurated by former minister of co-operative department Sri. M. V. Raghavan. They have own building at Chalappuram to operate the head office. There are nineteen branches for Calicut City Service Co-operative Bank. They are doing business in rented building for the branches in Calicut. Asper the audit report for the financial year 2004-2005, the bank is functioning in profit from a class 2 bank in March 31 st 2005,the bank has started functioning as a class 1 bank from May 1 st 2005, and a class 1 special bank from 1 st
September 2005. The bank has 19 branches in the city including the main branch 19
Table 3.1 BRANCHES OF CALICUT CITY SERVICE CO-OPERATIVE BANK
No Name Address 1 HEAD OFFICE CITY BANK BUILDING, CITY BANK JUNCTION CHALAPPURAM(POST) CALICUT-673002 2 ZAMORINS SQUARE LINK ROAD, CHALAPPURAM(POST) CALICUT-673002 3 THIRUVANNUR THIRUVANNUR, KOZHIKODE 673029 4 NGO QUARTERS NGO QUARTERS KOZHIKODE 673012 5 FRANCIS ROAD IDIYANGARA KOZHIKODE-673003 CALICUT-01 6 PAYYANAKKAL A R PLAZA BUILDING CHAKUMKADAVU KALLAI ROAD CALICUT-03 7 CHEVARAMBALAM CHEVARAMBALAM KOZHIKODE-673017 8 MAVOOR ROAD OPP. MOUFUSAL BUSSTAND KOZHIKODE-673004 9 KARAPARAMBA KARAPARAMBA, KOZHIKODE-673010 10 KUTTIYILTHAZHAM KUTTIYILTHAZHAM KOZHIKODE-673014 11 MEDICAL COLLEGE BLUE MOUNT PLAZA MEDICAL COLLEGE(POST) CALICUT-673008 12 THOPPAYIL NADAKKAVU PANIKKAR ROAD(POST) CALICUT-673011 13 BEYPORE OPP. R M HOSPITAL BEYPORE (POST) CALICUT-673008 14 KALLAI ARADHANA BUILDING KALLAI CHALAPPURAM-2 15 THANNEERPANTHAL TRAIMBAKAM THANNEERPANTHAL 20
Table 3.2 CALICUT CITY SERVICE CO-OPERATIVE BANK EMPLOYEES CO-OPERATIVE SOCIETY
CALICUT CITY SERVICE CO- OPERATIVE BANK EMPLOYEES CO-OPERATIVE SOCIETY
CALCUT CITY SERVICE CO-OPERATIVE BANK THOPPAYIL BRANCH BUILDING C R ARCADE PANICKER ROAD NADAKKAVI (POST) CALICUT-67301
Table 3.3 MOBILE BRANCH
1
CYBER PARK THONDAYAD BYPASS
8 AM TO 10.30 AM
+91-495-2530011
2
CHELAVOOR
11.30 AM TO 2 PM
3
PUTHIYANIRATH
3 PM TO 4 PM
4
PUTHIYAPPA
4.30 PM TO 5.30 PM 21
Table 3.4 GOALD LOAN COUNTER NO NAME ADDRESS PHONE
1
GOLD LOAN COUNTER
PAYYANAKKAL KOZHIKODE 673003
+91495-2323011
Table 3.5 NEETHI MEDICAL STORE NO NAME ADDRESS PHONE
1
NEETHI MEDICAL STORE
SPENDERPLAZA BUILDING MEDICAL COLLEGE POST KOZHIKODE 673008
+91495-3204378 Table 3.6 DIALYSIS CENTRE NO NAME ADDRESS PHONE
1
DIALYSIS CENTER
DIALYSIS CENTER C/O CALICUT CITY SRVICE CO-OPERATIVE BANK DOCTORS POLY CLINIC BUILDING 19/1194 a CHALAPPURAM (PO) CALICUT-02
+91495-230731
The actual working time of the bank is 8 am to 8 pm. The bank has a core banking facility. The data are communicated in this process through cable lines. The server is 22
placed in the head office, the core data from several branches are accessible y the head office.
The salary of the staff is equivalent to class 1 special grade mentioned in Appendix III of KCS Act and Rules and which may be changed according to the Government orders. The age limit to entry as staff begins from 18 years 40years for general candidate. Three years relaxation is given to OBC and years for SC/ST candidates
3.2.1 MANAGEMENT AND ADMINISTRATION
General body is the supreme authority of co-operative society. All A class share members are eligible for attending the general body meeting. The important power of general body is the election of the managing committee members, amendments of bye law, passing of budget, approval of audit and annual report, expulsion of members, disposal of net profit etc. The management of the day to day affairs of the bank is entrusted with the board of director consisting of nine members. The overall management of the Calicut City Service Co-operative Bank rests in the hands of Board of directors. And the day affairs of the bank are controlled by the secretary. By the absence of secretary, the assistance secretary will do the work on behalf of him. The board of directors consists of nine members. They shall be elected from the individual members under the rule of Kerala State Co-operative Act and rules. Out of the nine seats two shall be reserved for a scheduled caste/scheduled tribe members. Out of these remaining seven seats two directors shall be person with suitable banking experience.
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At preset the members PRESIDENT : SHRI. C. N VIJAYA KRISHNAN VICE PRESIDENT : SHRI. ADVOCATE T.M VELAYUDHAN GENERAL MANAGER : SHRI. SAJU JAMES DIRECTOR : SHRI. N. SUBHASH BABU DIRECTOR : SHRI. P. DAMODARAN DIRECTOR : SHRI. N. C. ABOOBACKER DIRECTOR : MRS. FIJINA SAJAN DIRECTOR : SHRI. JAYAPRAKASH P. A DIRECTOR : SHRI. AJAY KUMAR K DIRECTOR : SHRI. VELAYUDHAN T.V DIRECTOR : MRS. DIVYA SUDHEER DIRECTOR : SHRI. A SIVADASAN DIRECTOR : MRS. DR. AISHA GUHRAJ DIRECTOR : MR. SUHAIL P.S MEETING The board of meeting will be held on every Tuesday and the staff meeting on second Saturday. The meeting on the second Saturday is for giving training for the staff in the matters of banking transaction and the board meeting is for discussing and deciding on the following matters
Sanctioning of loan Problem relating to staff disciplinary action Employee appointment Profit and loss Audit report Registrars circulars 24
Government orders Future programs of the bank Day to day working of the bank The current affairs of the bank The final account of the bank is approved by the Board of Directors followed by the Auditors report and presented before the Annual General Body meeting after the approval of the Board of Directors. 3.2.2 BOOKS TO BE MAINTAINED BY THE BANK In the books of the bank account record is made according to slip system. Following boos are mostly used in Calicut City Service Co-operative Bank accounting Day Book General Ledger Receipt and Disbursement Trial Balance Cash Reserve Cheque Book issued Register Monthly Balancing Register Share Register Postage Register Register of ( Current Account, Fixed Account, Saving Account, Recurring Account) Loan Account Ledger Income and Expenditure Account Loan Application Register Current Account Overdraft Register Balance Sheet
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Chart 3.2 ORGANISATION STRUCTURE
ORGANOGRAM, RESPONSIBILITIES & AUTHORITI
BOARD OF DIRECTORS MANAGER BRANCH 2
ASSISTANT SECRETARY SECRETARY/CEO (MR) PRESIDENT CHIEF ACCOUNTANT (AMR) MANAGER BRANCH 1 GENERAL BODY
MANAGER BRANCH 3
MANAGER BRANCH 4
MANAGER BRANCH 5
INTERNAL AUDITOR MANAGER BRANCH 8
MANAGER BRANCH 7
MANAGER BRANCH 6
OPERATING STAFF 26
Chart 3.3 OPERATING STAFF
HEAD CLERK/ ACCOUNTANT SENIOR CLERK NIGHT WATCHMAN PEON DRIVER APPRAISAR JUNIOR CLERK ATTENDER 27
Table 3.7 RESPONSIBILITIES AND AUTHORITIES AT EACH LEVEL NO DESIGNATION PRIMARY RESPONSIBILITY OTHER RESPONSIBILITY
1
General body The apex authority in the functioning of the Bank as per Bye Law CLR& Act &Rule
2
Board of Director They have the responsibility to make policies and take decisions an all the matters concerning the functioning of the bank as per the Byelaw C127 & Act& Rule Responsibilities for the formulation / authorization of the quality policy of the bank . 3
President He is the head of the board and general body of members as per Bye law C128 & Act & Rule
4
Secretary All the duties and responsibilities conferred under the Kerala state co- operative Acts and rules, byelaws, C129 and sub rules of the banks. He is the first person directly responsible and answerable to the board of directors of the affairs of the bank rests with him He is the management representative it is duty to convene all kinds of meeting to the general body. He has overseen and led the financial development of the bank
5
Assistant Secretary The day to day running of the bank concerned with the transaction with the customers. He has acts in secretarys behalf on delegation and his absence AMR Additional duties delegated by secretary
6
Chief Accountant Prepare data for final audit and checks & verifies audit Additional duties delegated by secretary
7
Internal Auditor Conduct internal audit before statutory audit and assist and prepare various lists for statutory audit Additional duties delegated by secretary
8
Branch Manager Custodian of cash & stock at branches. Monitoring deposits, loans, NPA and prepare final report. He / She is responsible for data Additional duties delegated by secretary 28
backup & strong room access control
9
Operating Staff Operating all sections of deposits, loan, to arrange for the functioning of teller counter. Assist Branch Manager in preparation of all financial statement. Maintenance of daily RV files, forms registers, files & records. Additional duties delegated by secretary
3.2.3 SOURCES OF FUNDS
The following are the sources of funds Shares Entrance fees Investments Receive loans and financial helps to district co-operative bank, Government, Other economic institutions etc. Government subsidy, Grand and other donation
3.2.4 SHARE CAPITAL Share capital of the bank is 50000, A class equity shares at Rs. 250 each, 10 lakh C class equity shares at Rs. 10 each and 1 lakh D class equity shares at Rs. 100 each when the share allotment admissible at the same time whole amount shall be remit soon. B class share allotment shall be made to Government, Co-operative institutions, corporation, and service societies. The refund of share capital is at the time specified by the co-operative Registrar. C class share holders have no more right to voting. 29
The members of D class shareholders are that any person residing at Kozhikode district can gave membership after deposit the share amount. Other right is that they can deposit and take loan including gold loan and witness. They have no more right like voting etc. 3.2.5 MEMBERSHIP There are four type of membership are given in the society. A class, B class, C class and D class shares. A class membership is given only through the board of directors of the society. The qualification of A class share holder is he is living or working in the jurisdiction of the societies. B class share is given only the Government institutions. C class membership is given for gold loan purpose; D class share is given those person who are businessmen or self-employed person working or living in Kozhikode Corporation. Table 3.8 2010 A Class Members 254 C Class Members 20436 D Class Members 2567 Total 23257 2011 A Class Members 525 C Class Members 34169 D Class Members 8096 Total 42790 2012 A Class Members 526 C Class Members 38614 30
D Class Members 8723 Total 47863
3.2.6 MANAGEMENT The management of the Calicut City Service Co-operative Bank is run by the board of management. The board of management consisting 14 members of which one shall be reserved to a member belonging to scheduled caste/ scheduled tribe and one shall be reserve to a member belonging to women. The board of management shall power to determine the scale of establishment necessary for the administration of the bank. They shall have power from time to time to make regulation not inconsistent with the Byelaws of the Bank of Act of 1969 and the rules framed there under for the conduct of the business of the bank. The board of management shall appoint a full time paid General Manager and a fulltime paid treasurer (cashier) who shall have no seat on the Board. The board of management shall also have power to elect representative to other co-operative institutions. The members of the board of management hold office for a period of five years from the date of taking charges.
A Class Members 606 C Class Members 45086 D Class Members 11258 Total 56950 31
3.2.7 EMPLOYEES During the year 2012-13 there are 94 permanent employees and 16 part-time employees in the bank. A person appointed in any post in the banks service shall ordinarily be o probation for a period of one year. After the probation period he is permanently appointed in the post, if his work and conduct have been found to be satisfactory. Every employee of the bank shall be eligible for the casual leave of 20 days a year. No employee shall be continued in the service of the bank if he has attained the age 58 years. Every employee of the bank that has been confirmed in his post shall be required to the employees provident fund of the bank. A gratuity scheme wills be available to all employees irrespective of their credit in the provident fund. 3.2.8 INSPECTION The bank shall have a power to inspect societies which hold shares in it. Auditor checks the vouchers as one by one. Department instructors checks the administrative level matters. Loan outstanding statement present conditions to provide loan as the Byelaw base checks. Secretary inspects the branches and head office. 3.2.9 VISION CALICUT CITY CO-OPERATIVE BANK COPLEX The bank is established in the city a co-operative complex over 63 cents of land and at a cost of Rs.12 Crore. The complex, apart from the housing the head quarters of the bank, will feature a farmers centre comprising a marketing outlet for agricultural producers, conference hall for meeting and training of farmers, go down and an exhibition centre to showcase agricultural and allied products. CALICUT CITY SERVICE CO-OPERATIVE BANK TO SET UP RS 500-CR CANCER HOSPITAL The Calicut City Service Co-operative Bank has finalized plans to set up a Rs 500-Crore cancer hospital and research centre at Chathamangalam, near the National institute of Technology-Calicut (NIT). 32
The bank has already registered a charitable society, Cancer and Allied Ailments Research (CARE) foundation, for the purpose. It will provide at loan of Rs 20 crore initially for the project and the remaining funds will be raised from the institutions and individuals from both within the country and abroad. The bank has already purchased 15.5 acres at a cost of Rs 5 crore for setting up the hospital. The first phase of the project, featuring a 100-bed hospital, is stated to be completed by 2015. The hospital will be equipped with world class equipment for early detection of the disease. After completion in 2020, the hospital will have 300 to 500 beds and a fully fledged research centre boasting all the latest facilities. The bank authorities said that Mumbai based seagull consultancy had been entrusted with the task of preparing a detailed project report, which was expected to be ready within a fortnight. Also, architects have been shortlisted for constructing the hospital. The hospital will cater to the common man in the region, especially in Kozhikode, Wayanad and Malapuuram districts and at least 10 percent of the services will be provided free-of-cost to the economically backward communities. The bank, which began operations ten years ago in rented premise, is now functioning in its own building complex. The total deposits of the bank have reached Rs. 403.88 crore as on March 31, 2013.
3.2.10 MISSION Calicut City Service Co-operative Bank are strive to remain Bank are strive to remain Bank of first choice in whole Calicut. Bank has targeted to give financial assistance to lower and middle class people by protecting them from the exploitations from money. Bank offering their clients excellent service, innovative products, and value added baking while developing with them. Bank is encouraging, motivating, and developing our most valuable assets and the cornerstone of the bank. 33
Bank is attempting to achieve continual improvement by reviewing our products and services and feedback from customers and employees. Bank is working towards the successful implementation of Government objectives and policies applied to us. Bank is bound to relieve the society from increasing prices by way of Neethi stores and commodity fairs.
3.2.11 LOANS
CITY GOLD Gold loans for agricultural and non-agricultural purposes at very low interest rates. This facility is available from 9.30 am to 5 pm daily. AGRICULTURAL LOAN Provides loan for agricultural purposes at very low interest rates. PROPERTY LOAN Loan can be taken for an amount up to 25,00,000/- by pledging the property. HOUSE LOAN Bank provides loan up to 5,00,000/- for constructing houses or for conducting repair works. PERSONAL LOAN Personal loans are provided if we have any official as guarantor
BUSINESS LOAN With two other officials as guarantor and by little paper works we can take a loan up to 1,00,000/-
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3.2.12 DEPOSITS SAVING BANK One of the easiest saving options. Anybody can start an account with just Rs. 100/- and you need not be bothered about too much paper works. The bank provides Cheque facility for easy transaction. FIXED DEPOSITS CITYMAX DEPOSIT SCHEMES An innovative deposit scheme where you can deposit for 100,200 and 300 days. They give attractive interest for such deposit. CITY CHARITY DEPOSIT SCHEME It is started to give a hand to a helpless. A deposit scheme in which the interest of the deposit will be used by the bank for charity works. We can start a deposit scheme with a minimum amount of Rs. 1000. We can take the amount deposited by us at any time without interest. CITY KIDS CITY PLUS INVETMENT PLAN CURRENT ACCOUNT NITHYA NIDHI DEPOSIT RECURRING DEPOSIT
OTHER SERVICES Care Foundation Neethi Madical Store Dialysis Centre Social Commitment
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3.2.13 OBJECTIVES OF CALICUT CITY SERVICE CO- OPERATIVE BANK 1) To encourage the habit of frugality and co-operative mentality on members and achieve their project function as maximum. 2) To receive investment from members, public institutions and taken an invention procedure give back this amount to those persons institutions. 3) It gives loans to agricultural industrialists, labors, education, marriage, commercial purposes etc. 4) It provides gold loans to its members. 5) It frames programs for households articles and essential goods. 6) It increases the standard of living on family members and their economic condition by adopting various developmental programs. 7) It device appropriate programs for cottage industry and small scale industry development. 8) It will give a facility to save deposit lockes. 9) The acquisition of land, go down, construction of any building on works necessary as convenient for the purpose of banks. 10) To obey the co-operation laws and open with the permission of the Registrar branches at suitable places in the area of corporation in Calicut. 11) To conduct all the operations of a co-operative bank register under the o-operative act of law. 12) Acting as agent for providing banking facilities to institutions on behalf of customers. 13) To provide necessary changes in bye law and conduct other operations. 14) To obtain above matters receive loans from Government, State Co-operative Banks, district co-operative banks and other financial institutions etc.