CHEPTER 02 HISTORY OF SELECTED CO-OPERATIVE BANKS

Transcription

1 CHEPTER 02 HISTORY OF SELECTED CO-OPERATIVE BANKS

2 Topic No. Topic Details Page No. 2. HISTORY OF SELECTED CO-OPERATIVE BANKS Universe Sample Sampling Sampling plan Population Elements History of selected co-operative banks Ahmedabad Mercantile Co-operative Bank Ltd Apani Sahakari Bank Ltd Colour Mercantile Co-operative Bank Ltd Gujarat Ambuja Co-operative Bank Ltd Kalupur Commercial Co-operative Bank Ltd Kankaria Maninagar Nag. Sah. Bank Ltd Karnavati Co-op. Bank Ltd Mahila Seva Co-operative Bank Ltd Maninagar Co-op. Bank Ltd Naroda Nagrik Co-operative Bank Ltd Nav Nirman Co-operative Bank Ltd Nutan Nagarik Sahakari Bank Ltd Progressive Mercantile Co-operative Bank Ltd Saraspur Nagarik Co-operative Bank Ltd Saurashtra Co-op. Bank Ltd Union Co-operative Bank Ltd Bhuj Mercantile Co-operative Ltd Rajkot Nagarik Sahakari Bank Ltd. 89

3 CHAPTER-2 HISTORY OF SELECTED CO-OPERATIVE BANKS 2. Selection of Banks: 2.1 Universe: It is totality of the person objects, items, or anything conceivable pertaining to certain characteristics. As per statistical dictionary statistical usage, the term population is applied to any finite or infinite collection of individuals Sample: A finite part of universe selected by some process, usually by deliberate selection with the object of investigating the properties of the parent universe or set is called sample Sampling: A process used in statistical analysis in which the prederminded number of observation will be taken from larger population the methodology used to sample from larger population will depend on type of analysis perform Sampling Plan: According to my Title A Study on Performance Appraisal of Selected Indian Co-operative Banks, we have to select Co-operative banks in India. As i am a lecture in Ahmedabad City Area, I have selected the Co-operative banks registered in Ahmedabad city and District Co-operative Banks Association Ltd. There are 36 Member s Co-operative Banks. [ 44 ]

4 We have taken the 50% sample i.e. 18 Co-operative Banks from above mentioned 36 Co-operative Banks i.e. 30 Member s and 6 Nominal Member s Co-operative bank as mentioned in the Table. But the sample is not taken without using Sampling Method, as here we have to use an Area Sampling Method as we have to divide our Sample into Zones according to Ahmedabad Municipal Corporations as shown below Table Population Elements following: The relevant population elements for the research consist of the Ahmedabad Municipal Corporations is divided into Six Zones: Zone Total Co- Operative banks Sample taken by % Sample Taken by Number CENTRAL 6 50% 3 NORTH 1 100% 1 SOUTH % 2 EAST % 2 WEST % 6 NEW WEST 4 50% 2 OUT OF CITY % % 18 List of Sample Bank Taken: Zone CENTRAL NORTH SOUTH EAST Zonal- Wise Sr. No. Total Serial No. Bank Name 1 1 Apani Sahakari Bank Ltd. 2 2 Colour Mercantile Co-operative Bank Ltd. 3 3 Progressive Mercantile Co-operative Bank Ltd. 1 4 Union Co-operative Bank Ltd. 1 5 Kankaria Maninagar Nag. Sah. Bank Ltd. 2 6 Maninagar Co-op. Bank Ltd. 1 7 Karnavati Co-op. Bank Ltd. 2 8 Saurastra Co-op. Bank Ltd. [ 45 ]

5 WEST 1 9 Ahmedabad Mercantile Co-operative Bank Ltd Kalupur Commercial Co-operative Bank Ltd Mahila Seva Co-operative Bank Ltd Nutan Nagarik Sahakari Bank Ltd Nav Nirman Co-operative Bank Ltd Saraspur Nagarik Co-operative Bank Ltd. NEW WEST 1 15 Gujarat Ambuja Co-operative Bank Ltd Naroda Nagrik Co-operative Bank Ltd. OUT OF CITY (Nominal Member s) 1 17 Bhuj Mercantile Co-operative Ltd Rajkot Nagarik Sahakari Bank Ltd. 2.2 History of the Banks: AHMEDABAD MERCANTILE CO-OP. BANK The Ahmedabad Mercantile Co-op. Bank Ltd., Established in the year 1966, popularly known as "AMCO BANK" started its banking activity under the leadership of Shri Mohanbhai C. Patel with one branch at Relief Road, Ahmedabad in Gujarat State, India. Expansion accelerated, and branch after branch was added to the family of branches of the Bank, creating a group of 25 branches, all are operating in their own fully air-conditioned premises. With opening of a branch in Mumbai, in Maharashtra, the Bank attained the Multi State Co-op. Society status. The Bank acquired Scheduled Bank status in The birth and the spectacular growth of the Bank in a comparatively a small span of 46 years can mainly be attributed to the desire to cater the needs of the business community in general and small traders in particular, encouraging the community to save and channelise these savings for productive purposes leading to economic progress and prosperity of the community. With the passage of time and with gaining of strength and stability, the Bank spread its wings to other areas such as financing of Small Scale Industries, large industries, professionals, individuals for consumer durables, vehicles etc. as also acceptance of deposits from Non-Resident Indians. Our motto is "CUSTOMER CARE" and thereby total customer satisfaction and our goal is to BETTER to BEST. [ 46 ]

6 The Ahmedabad Mercantile Co-op. Bank Ltd., Established in the year 1966, popularly known as "AMCO BANK" started its banking activity under the leadership of Shri Mohanbhai C. Patel with one branch at Relief Road, Ahmedabad in Gujarat State, India. Expansion accelerated, and branch after branch was added to the family of branches of the Bank, creating a group of 25 branches (including Dehgam, Mumbai and Baroda) most of them operating in their own fully air conditioned premises. With opening of a branch in Mumbai, in Maharashtra, the Bank attained the Multi State Co-op. Society status. The Bank acquired Scheduled Bank status in APANI SAHAKARI BANK LTD. Apna Sahakari Bank Ltd. popularly known as Apna Bank, was established on the auspicious day of Gudhi Padva on 29th March It started its operations from the Apna Bazar, Naigaum, Dadar in Mumbai. The Bank was established at the behest of labour leaders and leading social workers from Naigaum, Dadar, which is a predominantly mill worker's residential locality. The main objective of the Bank was to provide much needed financial assistance to the mill workers at a reasonable interest rate. Apna Bank earned recognition in a very short span of time and opened its branches in working class residential localities of Mumbai. A major share in the success of Apna Bank, which has been able to attract a large number of customers by providing prompt & efficient banking services with intimacy, over the past 40+ years, goes to Apna Parivar and the devoted employees of the bank. Every customer, account holder and well wisher of Apna Bank is considered as a member of closely knitted Apna Parivar. APNA BANK revolutionized co-operative banking sector by starting it s first ever Night-Bank service at its Naigaon-Dadar branch. The Bank introduced the Teller Payment System way back in 1990 considering the prompt customer service and quick cash payments. The Bank introduced Kumar Bachat Yojana for school going children to inculcate the habit of [ 47 ]

7 savings at an early stage of life and also educate them about banking services. Due to intense competition in the banking industry, the Bank is continuously upgrading its quality of customer service. Now a day s every bank is striving to provide better and hi-tech services to its customers and Apna Bank is no exception to this situation. In order to provide prompt and better customer services, the Bank has computerized all its branches. The Bank has successfully implemented 100% Core Banking Solution (CBS) which has facilitated connecting all its branches and ATMs. This has enabled our customers to withdraw, deposit cash and cheques at any of the Bank s branches and ATMs without any hassle and at absolutely no cost or charges. The Bank has set up an State of the Art Technology DATA CENTRE covering an area of 850 sq.ft. at its Head Office. It is well equipped with all the requirements of an ideal DATACENTRE. The Bank has its own modern training centre & library at its Head Office. The Bank s staff is constantly imparted knowledge of the current affairs in the banking industry. Besides traditional banking services of accepting deposits & lending money, Bank is also providing Franking Facility which is beneficial to builders, their customers and general public. The Bank has entered into an Insurance Business on referral basis with tie-up arrangement with Bajaj Allianz for its general insurance products. The Bank is providing Forex Services like issuing foreign LCs, LC discounting, packing credit, post shipment credit, issuing demand drafts in foreign currency, issuing foreign currency notes etc, with necessary tie-up with renowned banks. Bank has been top seeded in the co-operative banking sector for providing high quality services to its customers. Apna Bank s services were recognized at various levels. Lately our [ 48 ]

8 bank was honored with coveted second prize for the Best Co-operative Bank by Brihan Mumbai Co-operative Banks Association for the year 2008, in the previous year the bank has received the First Prize for the Best Co-operative Bank in Mumbai by Greater Mumbai Urban Co-operative Banks Association for the year Earlier, in the year , it was awarded Padmabhushan Vasantdada Patil Trophy for Best Urban Co-operative Bank, instituted by the Maharashtra State Co-operative Bank s Association, in the following year it was honored by Maharashtra Kala Niketan with Maharashtra Gaurav Award. Apna Bank is the Largest non Scheduled Co-operative Bank. The Bank is constantly riding the path of progress. In recognition of its excellent customer services and overall progress, for the first time in the history of banking, the RBI and Maharashtra State Government have consented merging of Care Co-op. Bank Ltd. in a non Scheduled Co-operative Bank Apna Sahakari Bank Ltd. It is an achievement for everyone who is associated with APNA BANK. Subsequently the merger of Ashta Urban Co-operative Bank- Sangli resulting in widening its spread in Maharashtra Apna Sahakari Bank Ltd. is a Bank with intimacy for its customers and account holders. It has always preferred to relations over business during past 42+ years of banking. That is the reason, a customer or member or an account holder, who comes to the Parivar becomes Apna forever. SERVICES Foreign Exchange The bank is providing Forex Services like issuing foreign LCs, LC discounting, packing credit, post shipment credit, issuing demand drafts in foreign currency, issuing foreign currency notes etc, with a tie-up with renowned banks. Import/ Export Remittance Customers can remit/receive funds overseas in foreign currency towards import/ Export of goods or services [ 49 ]

9 Forward Contract Booking Customer can hedge his exchange risk by deciding currency rates in advance, whereby customer can safeguard his interest against fluctuations& volatility in the currency rates Pre-shipment and Post-shipment credit An exporter can avail a pre-shipment credit against a letter of credit in his favour, for execution of his export order. An exporter can avail a post-shipment credit on dispatching the goods against export letter of credit Bank Guarantee in foreign currency Customer can avail a bank guarantee in foreign currency towards his international commitments subject to terms & conditions Issuing of DD /Currency notes / Travellers cheque in foreign Currency Customer can remit funds overseas in foreign currency via telegraphic Transfers, Demand draft, currency notes and travelers cheque LOCKERS "You can keep your Valuables safely in our safe deposit lockers. The lockers are available in various sizes to suit your requirement. Check on the Locators to find the branches Providing this facility" FRANKING The Bank, in its pursuit of providing additional services has obtained a license for Franking. Franking is done for various documents instantly. [ 50 ]

10 INSURANCE The Bank has entered into Insurance business on referral basis with tie-up arrangement with Bajaj Allianz for its general insurance products. The services are available at all the branches of the bank ATM APNA SMS The bank has started SMS Alerts service for its customers. The customer shall be provided with the SMS Alerts services such as information relating to account(s), details about transaction and such other services as may be provided from time to time. RTGS / NEFT Services : - Make /Collect Payment in ALL INDIA instantly through RTGS (Real Time Gross Settlement) NEFT (National Electronic Funds Transfer) Facility. E-Payment(TDS/TCS/GVAT/CST/Excise & Service Tax)Services - e-payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks. If Our Customer Sufficient balance in the bank account to cover the amount of payment for immediate transfer via HDFC Bank. Please avoid using browsing centres for making e-payments / GVAT(Gujarat Value added Tax) / CST (Central Sales Tax)/ Excise and Service Tax E-Payment (Tax Deducted at Source / Tax Collected at Source (TDS/TCS) from corporates or non-corporates); (payment of Income tax & Corporation Tax);(payment of Security Transaction Tax, Hotel Receipts Tax, Estate Duty, Interest Tax, Wealth Tax, Expenditure Tax /Other direct taxes & [ 51 ]

11 Gift tax) ;(payment of Banking Cash Transaction Tax and Fringe Benefits Tax) For E-payment/GVAT/CST/Excise and Service Tax transaction contact to your nearest Branch (Any Branch Banking under CBS). LOCKER Branch equipped with Safe Deposit Lockers. These Lockers are of different size and available at most competitive rent Lockers (Safe Deposit Vaults) can be hired by any individual either singly or joint names. Safety :: Locker cabinets provided by "Godrej" and housed in pacca Strong Room for safety. Remittance of Fund Issue of out station Draft on Mumbai/ Ahmedabad / Dehgam at par for our constituents, against the clear balance in the a/c Issue of Banker's cheque for local payment at competitive rate Issue of Out station Drafts other than Mumbai/ Ahmedabad through mutual arrangements with leading private, commercial & Nationalised Banks at competitive rates. Collection of Cheques/Bills Collection of outstation Cheques on Mumbai / Ahmedabad / Dehgam and Baroda at par. Cheques on Mumbai Cleared in maximum five working days. Collection of Cheques on other centres and collection of Bills under agency arrangement with other banks Letter of Credit & Bank Guarantee We being a Multi-State Scheduled Bank, L.Cs/Bank Guarantees issued by us are acceptable by all Banks / Govt. Depts./ Corporations etc. at competitive rates. Foreign L.Cs. Issued by mutual arrangements with leading commercial & Nationalised Banks at competitive rates [ 52 ]

12 Applications Supported by Blocked Amounts (ASBA) ASBA. Detailed procedure of applying in IPO (Initial Public Offering) through Under ASBA facility, investors can apply in any public/ rights issues by using their bank account. Investor submits the ASBA form (available at the designated branches of the banks acting as SCSB) after filling the details like name of the applicant, PAN number, demat account number, bid quantity, bid price and other relevant details, to their banking branch by giving an instruction to block the amount in their account. In turn, the bank will upload the details of the application in the bidding platform. Investors shall ensure that the details that are filled in the ASBA form are correct otherwise the form is liable to be rejected. Following advantages applying through ASBA facility : The investor need not pay the application money by cheque rather the investor submits ASBA which accompanies an authorization to block the bank account to the extent of the application money. The investor does not have to bother about refunds, as in ASBA only that much money to the extent required for allotment of securities, is taken from the bank account only when his application is selected for allotment after the basis of allotment is finalized. The investor continues to earn interest on the application money as the same remains in the bank account, which is not the case in other modes of payment. The application form is simpler. The investor deals with the known intermediary i.e. its own bank COLOUR Mercantile Co-operative Banks: The Colour Merchants' Co-operative Bank Ltd., established in 1971, [ 53 ]

13 with the help of Colour Chemical Ind. merchants, Cloth market merchants and other merchants planned and make it possible. Board Of Directors Mr. Ashok A. Khanna (Chairman) Mr. Bimal D. Parikh (Managing Director) Mr. Nauttam R. Vakil (Vice Chairman) Mr. Paras S. Rangwala (Jt. Managing Director) Director Mr. Lalitbhai B. vacheta, Mr. Gaurangbhai P. Shah, Mr. Rajiv A. Shah, Mr. Vishnubhai A. Patel, Mr. Amitbhai A. Khanna, Mr. Ripalbhai R. Parikh, Mr. Anilkumar A. Gandhi, Mr. Pravin C. Shah, Mr. Mananbhai N. Vakil (Co-Opt) Managers Mr. Kinnar N. Shah, Mr. Atul Shah Services Core Banking Solution : Our Bank has just started the Core Banking Solution (C.B.S). With the help of this our customers can do banking from any of our branch. With C.B.S. you can credit or debit cheque/cash from any of our branch. This facility is free no value added service charges apply. RTGS / NEFT / E-Payment : For our Account holders there is a facility of fund transferring very quickly and securely in all over India through RTGS / NEFT. They can also pay Government Tax with the facility of E-Payment. [ 54 ]

14 Safe Deposit Vault Size Rent Per Locker L Rs. 2500/ Locker + Service Tax H1 Rs.1500/Locker + Service Tax D Rs.350/Locker + Service Tax B Rs.300/Locker + Service Tax A Rs.250/Locker + Service Tax Stamp Franking Service Government Authorised adhesive stamp franking service. Available with Head Office Astodia Road, Ahmedabad GUJARAT AMBUJA CO-OPERATIVE BANK LTD Gujarat Ambuja Co-Op. Bank Ltd. It was established in "Navarang Tavar", Sola Road, Ahmedabad-61. Head office Navarang Tower Sola Road, Ahmedabad Ph no : Fax no : Website : E mail : gacb@dataone.in Board Of Directors Shree Amrutbhai B. Patel Shree Amrutbhai M. Patel Shree Narsinghbhai C. Patel Shree Ishverbhai A. Patel Shree Chinubhai M. Patel Shree Ashish K. Patel Chairman Vice Chairman Managing Director Director Director Director [ 55 ]

15 Shree Baldevbhai J. Patel Director Shree Gopalbhai T. Patel Professional Director(CA) Shree Bhogibhai S. Shah Professional Director Shree Jethalal M. Patel Professional Director Shree Ambalal I. PAtel Manager SERVICES We are providing under noted banking services to our customers. All our banks are having connectivity under core banking solution (CBS) customers can have cash, transfer, clearing transactions through without any changes Customers can transfer the fund under RTGS/NEFT through our all bank. E payment facility provided for payment of income tax. Safe Deposit vault locker facility provided. Outstation cheques are being collected. Demand Draft facility available. Stamp Franking Facility available. We offer attractive rate of interest on time deposits and also offer 1.00% more interest to senior citizens, on time deposits of one year and above. We provide credit facility to needy people with our various credit schemes THE KALUPUR COMMERCIAL CO-OP BANK LTD The bank had a very humble, but very inspiring beginning on 5th December The Bank is a professionally managed Financial Institution a benchmark of transparency, credibility and innovation. The Bank is founded by Late Shri Baldevbhai Dosabhai Patel, Late Shri Gopaldas Shivlal Patel and Shri Arvindbhai Jivanlal Saheba. The Bank has nurtured its traditional values in business practices and in serving the small businessmen. These were the people with deep and abiding ideas, faith, vision, optimism and entrepreneurial skills with commendable sense of service and duty. [ 56 ]

16 The dynamism infused by the Board of Directors, affectionate loyalties of clients and devotion of staff members has created the sound foundation of The Kalupur Commercial Co-operative Bank Ltd and has emerged as one of the leading Multi Sate Scheduled Co-operative Bank in the country. The Bank has adopted new technologies and advanced Banking tools to add value to its services. The Kalupur Bank has earned a name in cooperative Banking sector due to its rich heritage, integrity and adherence to prudent banking practices, technology advancement customized products and services. The Kalupur Bank believes that Customer Delight is the ultimate goal and has a strong belief that customers and all shareholders, wholehearted support, absolute faith and their patronage coupled with hard work of the staff members has been largely responsible for its noteworthy and appreciable growth. The Kalupur Bank is committed to provide banking services with speed, comfort and convenience. The Kalupur Bank has a visionary growth plan focusing all business strategies. The Bank has 38 branches of which 33 are situated in Bank s own premises. These branches are spread over Ahmedabad, Sanand, Bareja, Bavla, Anand, Khambhat, Vadodara, Surat, Gandhinagar and Mumbai. SERVICES 1. Deposit Interest Rate Interest rates on Saving Account is 4.00% on daily credit balance. We hereby inform to all our esteemed depositors/account holders that the interest rates on Term deposits have been revised w.e.f , The new Interest Rates are as follows: Kal Flexi Deposit We hereby inform to all our esteemed depositors/account holders that the interest rates Under Flexi Deposits which have been revised w.e.f 01-Oct [ 57 ]

17 Days / Months 181 days (Lock in Period 15 days) General Depositors 7.25% Note :- single Deposit for 15 Lacks and above Deposit under 80C Income Tax We hereby inform to all our esteemed depositors/account holders that the interest rates Under 80C which have been revised w.e.f 30-Jan Period General Depositors Senior Citizen Depositors 60 Months 9.00% 9.00% Deposit under NRO Fixed Deposit We hereby inform to all our esteemed depositors/account holders that the interest rates Under NRO. Deposit under NRE Fixed Deposit We hereby inform to all our esteemed depositors/account holders that the interest rates Under NRE. Period General Depositors Above 1 Year to 2 Years 9.25% Above 2 Years to 3 Years 8.75% Recurring Deposit We hereby inform to all our esteemed depositors/account holders that the interest rates Under Recurring Deposits which have been revised w.e.f 16-Oct Period General Depositors Minimum 12 months 7.50% 13 months to 24 months 9.50% 25 months to 36 months 9.00% 37 months to 60 months 8.75% [ 58 ]

18 2. Advances Interest Rate Type of Advances Housing Loan up to 50 Lacks (NON EMI) Housing Loan 50 Lacks to 70 Lacks (NON EMI) Period / Interest Rate Up to 15 years 11.00% Above 15 to 20 years 11.50% Up to 15 years 11.50% Above 15 to 20 years 12.00% Loan for Rice Mill and Cotton Mill (production unit) (A) Stock / Book dept / Machinery Loan 1) Without Credit Rating 12.00% 2) With Credit Rating 13.00% (B) Secured Cash Credit 14.50% Secured Cash Credit food grain pledge 12.50% Advances Against Govt. Securities 11.50% Education Loan (Individual) 10.00% Secured Cash Credit (Business Purpose) 14.50% Secured Loan 14.00% House Hold Loan 15.00% Loan for Computer 14.50% Unsecured Cash Credit (Personal) 15.00% Loan against vehicles Loan against Vehicle 2 wheeler 14.50% Premium Car loan (above 15 lacs) 10.50% Vehicle Loan - 4 wheeler (Individual) 11.50% Vehicle Loan -4 wheeler (Commercial) 13.50% Advances Against Deposit of Bank 1) Advances against Own Name F.D. Deposit Int Rate % 2) Advances against Third Party F.D. Deposit Int Rate % Loan against SL & SCC 15.00% Vypar Mitra Yojna 13.50% Doctor Mitra Yojna 11.50% [ 59 ]

19 Share Pledge (Cash Credit) 14.50% Loan against Rent Discount 12.50% Advances / Loan against Hypothecation of Stock / Book dept / Machinery / Pledge / Bill purchased 13.00% 3. ATM Service Kalupur Bank is proud to offer services of ATM. Any individual having savings bank account with one name or joint holders having instructions to withdraw with one signature can have our ATM card. If you have current account with sole proprietorship, or partnership account wherever the withdrawal is permitted with single signature, the ATM card facility can be enjoyed. The ATM card can also be used in overdraft accounts against fixed deposit. Period The ATM card is issued for five years and than it can be renewed. Now The Kalupur Bank is member of NFS and our ATM card can be operated at 1,00,404 ATMs. Withdrawal limit: 25,000/- can be withdrawn in one transaction. The limit of withdrawal per day is Rs /- only. NFS ATM Service charges are as under : First 5 transactions are free Rs /- + (Service Tax) will be charged above 5 transaction for Cash withdrawal. Rs /- + (Service Tax) will be charged above 5 transaction for Balance Inquiry Other facilities (1) Balance inquiry (2) Mini statement (3) Last 5 transactions (4) PIN Change. [ 60 ]

20 Charges (1) The ATM cards are issued free of cost. (2) There is no charge for ATM transaction (3) Card re-issue charge is Rs.100/- (4) Password reissue charge is Rs. 50/- We have 33 on site ATM centres and 2 off site centers. 4. RTGS Service TRANSFER YOUR FUNDS ANYWHERE IN INDIA IN MINUTES (Selected Banks and Branches) Minimum amount per transaction Rs. Two Lacks There is no upper ceiling of RTGS transactions. The beneficiary bank credits the beneficiary s account within two hour of receiving the funds message. What you need to Submit? (Remitting customer) Amount to be remitted. His/her account number which is to be debited. Name of the beneficiary bank. Name of the beneficiary customer. IFSC of receiving branch. Account number of the beneficiary customer. Timings :- 10:00 am to 04:00 P.M. (Monday to Friday) 10:00 am to 12:30 PM (Saturday) IFSC Code of Our Bank (KCCB) KCCB0RTGS4C 5. NEFT Service 6. Lockers 7. Stamp Franking Our Bank has been permitted for stamp franking by Govt. of Gujarat. You can get the facility of stamp franking at your nearest branch. This facility is available at following branches. 8. SMS Banking Mobile Number: [ 61 ]

21 Use your 11 digits account number for mobile banking. 1. Branch Code : 3 digit (Ashram Road Branch : 010) 2. Account Type : 3 digit (Saving 101, Current 201) 3. Account No : 5 digit (00501) Balance inquiry For balance information SMS (BAL ) Last two transaction information For last two transaction information SMS (STM ) Cheque status For cheque status SMS (CHQ ) 9. AMC Property Tax 10. Pan Card Services KANKARIA MANINAGAR NAG. SAH. BANK LTD. Kankaria Maninagar Nagrik Sahakari Bank: established in 13/10/2073. SERVICES We are providing under noted banking services to our customers. All our banks are having connectivity under core banking solution (CBS) customers can have cash, transfer, clearing transactions through without any changes Customers can transfer the fund under RTGS/NEFT through our all bank. E payment facility provided for payment of income tax. Safe Deposit vault locker facility provided. Outstation cheques are being collected. Demand Draft facility available. Stamp Franking Facility available. We offer attractive rate of interest on time deposits and also offer 1.00% more interest to senior citizens, on time deposits of one year and above. We provide credit facility to needy people with our various credit schemes [ 62 ]

22 2.2.7 KARNAVATI CO-OP BANK LTD. Karnavati Co-operative Bank: Established in 17/9/86. It gives all services accept lone on shares. SERVICES We are providing under noted banking services to our customers. All our banks are having connectivity under core banking solution (CBS) customers can have cash, transfer, clearing transactions through without any changes Customers can transfer the fund under RTGS/NEFT through our all bank. E payment facility provided for payment of income tax. Safe Deposit vault locker facility provided. Outstation cheques are being collected. Demand Draft facility available. Stamp Franking Facility available. We offer attractive rate of interest on time deposits and also offer 1.00% more interest to senior citizens, on time deposits of one year and above. We provide credit facility to needy people with our various credit schemes MAHILA SEVA CO-OP BANK LTD. Self employed women workers and producers are economically very active and contribute to the growth of the economy. They are mainly involved in production, trading and the service sector. However, in spite of their hard work and their contribution to the country's gross domestic product, they do not have access to financial services, which would help them to upgrade their own work and productivity. Self-employed women face two major financial problems: Lack of working capital, and non-ownership of assets. As a result, a big portion of their meager income goes towards interest on working capital and rent on trade equipment. Terms of borrowing from money-lenders are very exploitative and the formal banking sector is not usually responsivee to the special needs of informal sector women workers, in [ 63 ]

23 terms of providing appropriate banking services. Thus, in order to address this problem and free themselves from the vicious cycle of eternal debt, the members of SEWA came forward with their own solution, in a meeting in December 1973: "a bank of their own", where they would be accepted in their own right and not to be made feel inferior. "We may be poor", they said "but we are so many", and indeed 4,000 women contributed share capital of Rs.10/- each to establish the MAHILA SEWA CO-OPERATIVE BANK. In May 1974, the SEWA Bank was registered as a co-operative bank under the dual control of The Reserve Bank of India and The State Government. Since then it has been providing banking services to poor, illiterate self-employed women and has become a viable financial venture. SERVICES 1. Savings From the start, SEWA Bank has laid great emphasis on savings. This was for two reasons: A. Our Clients all self-employed women with low income, demanded a safe place to save and showed a great ability to save small amounts regularly, as long as they were facilitated through appropriate collection systems. B. From an institutional point of view, building up a credit loan fund from members' own savings was viewed to be the most cost effective with the least strings attached. In addition bulk loans from mainstream financial institutions were near impossible to access in the 70's and 80's, so SEWA Bank had to rely on a steady source of funds for on-lending, from its own depositors. In response to demand from members for a variety of savings needs, SEWA Bank has developed a wide range of different savings products or schemes. [ 64 ]

24 2. Loan Self employed women need loans for a wide variety of purposes; to buy assets, raw materials, finished goods for resale, redeem old debts, upgrade their homes, buy transportation means such as a handcart or a pedal cart or put in infrastructure in their homes, such as water or electric connections. SEWA Bank has been providing a wide range of loan products to meet the productive credit needs of its clients. SEWA Bank requires that a woman save regularly for atleast one year, before she is eligible to apply for a loan. In the absence of traditional collateral, a regular savings habit is deemed a necessary form of security, in SEWA Bank's experience of banking with the poor for over 25 years. Each loan is sanctioned following a pre loan check home visit by a SEWA Bank field worker. The amount sanctioned depends mainly on the field workers recommend-dation, as she is deemed too know the client best. A customized client credit risk rating instrument is also completed, to have fixed the amount of loan to be sanctioned. This instrument has been developed by SEWA Bank with inputs from professional consultants, tailored to reflect the conditions and situations of SEWA Bank customers. A summary of SEWA Bank's total loaning activity for the last eight years is as follows 3. Parivartan Introduction Similarly, SEWA Bank and the SEWA union have entered into a partnership with the Ahmedabad Municipal Corporation to attend to the problem of housing for the poor because the house is also a work place for many informal sector workers. The Parivartan housing program is designed to upgrade the slums in the city. Slums located on municipal land are first identified; the SEWA mobilizes the women slum dwellers to form a residents' association. Every household deposits 2,100 rupees with the municipal corporation, which entitles them to a toilet, a sewage system, water supply, and electricity in their new pucca house. The women may borrow the amount [ 65 ]

25 from SEWA Bank if they are unable to pay with savings. The title to the house is issued in the SEWA member's name, and it is entered into the official municipal record. Local SEWA leaders play a significant role in making this happen. Once the project is completed, the neighborhood tends to acquire a more respectable name such and such colony or so and so Nagar. However, working in collaboration with outside agencies, especially a government of any sort, is not without problems. The municipality is quick in collecting funds, but slow to start the building process. Meanwhile, the women are impatient they are paying interest on a loan that has yet to see any results. They feel frustrated and turn to the Bank for help, even though the Bank has no control over the government and other power structures. The overlap in the roles of SEWA and SEWA Bank also causes some confusion at times. By intervening on behalf of the women in dealing with the government, the municipality, or with insurance companies, the Bank often bears the brunt of the women's frustration. When, for example, an insurance company makes a low assessment of the damage to a riot victim's house, she is devastated. While the insurance company takes a limited view of what constitutes damage and how it occurred, for the woman, the loss continues to haunt her for years after the incident. Rebuilding a life, regaining trust, and recovering one's livelihood against overwhelming odds is a daunting task; while the Bank can play a crucial supportive role in recovery, it can by no means solve all problems. The client's needs are greater than what an economic entity like a bank can provide. Yet the women see the Bank as our bank, a provider, a sort of mother that provides shelter, is caring, understanding, forgiving, trusting, and all-powerful. While admittedly SEWA Bank has tried to mother its clients, that is not its mission. Its mission is to empower the women themselves. For a formal financial body, serving clients who have grown in the traditional, non-formal culture of unwritten mutual trust, this is a challenge. 4. UTI Retirement Benefit Pension Fund SEWA bank is breaking new ground with India 's first Micro-Pension Scheme. In April of 2006, SEWA members were granted permission to join a [ 66 ]

26 SEBI approved pension plan that offers no assured returns but allow up to 40 % collection to be invested in the Indian stock market. In a unique arrangement with Unit Trust of India Asset Management Company (UTI AMC), SEWA Bank will collect individual contribution similar to a systematic investment plan (SIP) of a mutual fund. It will send the monthly contribution, which can also be a law as Rs.50 (US$1), to UTI. The asset management company will open individual retirement accounts, from where the cash will be invested in debt and equity. Monthly statement will be sent to SEWA subscribers, who will not be required to pay any initiation fees for participation in this mutual fund. This is the first such Pension scheme for self employed in India. SEWA Bank acts as a distributor of UTI & for this is getting 3 % of amount collected as commission. UTI Retirement Benefit Pension Fund A government of India notified Pension Fund Scheme suitable for Retirement Planning 1961 Invest upto Rs. 1 lakh for tax benefit under Section 80C of the It Act, Systematic Investment Plan ( SIP ) facility available 5. SEWA Insurance In India, more than 90% workers are in the informal economy today. Of the female labour force in India, more than 94 % are informal or unorganized workers. They do not obtain regular salaried employment with welfare benefits like workers in the organized sector. They are the unprotected labour force of the country. Their work is not counted and they remain invisible, though they contribute significantly to the nation's economy. Life is full of struggles for poor women. They work for long hours in poor conditions for the whole life. When they cannot work because of biological crises (sickness, pregnancy, accidents), economic crises (unemployment, debt), natural or man made disasters (flood, fire, riots, drought, earthquake) it results in loss of work, income and assets. Many times they have to sell their assets like land and even borrow money at very high [ 67 ]

27 rates. This leads them deeper into the vicious cycle of poverty and indebtedness. Thus, given poor women's strong need for a buffer in times of crises, in 1992 SEWA started an integrated insurance programme for its members. It was started with the objective of providing a support to poor women in times of calamities. It is a collaborative effort of SEWA, SEWA Bank and the nationalised insurance companies. Currently, SEWA has its own insurance unit called Vimo SEWA. Which insures women for life, health, assets, widowhood and accidents in Gujarat. Starting with 7,000 members, it has now reached more than 70,000 women in 11 districts of Gujarat state. The total number of insureds, women and men, is 90,000. Today our programme is a group insurance package linked with the insurance companies, as mentioned earlier. There are three different packages according to the needs and affordability of the members. Women have an option to insure their husbands' lives and health by giving additional premium. 6. Sewa Bank ATM 7. Financial Counseling Along with empowering women, information is crucial to the empowerment if long-term benefits are to accrue. Towards that financial counseling becomes a necessity for it leads to wiser and sustainable decisionmaking process. Sewa Bank trains financial counselors at the grassroots level and financial literacy specialists in different aspects of financial planning ultimately to benefit women workers in arriving at sound financial discipline. Financial discipline thus arrived at through financial counseling helps take care of exigencies in future, gives a feeling of security, inculcates a feeling of economic independence and encourages them to plan for the future. Financial decision-making based on an informed choice after attaining knowledge about all services, available to the client, leads to wiser, more sustainable decision making. [ 68 ]

28 8. Business Counseling Manage Expand and be Successful Business Counseling Training idea was conceptualized under Sanjivani Project. This project was taken up with the main aim of helping women members and their families who were affected by the closure of major textile mills in Ahmedabad. The main objective of Business Counseling under Sanjivani Project to these self employed women members is to help them select the right path which will make them self confident and self reliant. Through Business Counseling Trainings, Sewa Bank aims to impart basic knowledge and information to women members to not only start their own business but also how to expand their existing business and be successful. The Training consists of 5 Modules. For further detailed information on every individual Module click on the link below. Business & Entrepreneur Business Cycle Cost Components Basic Accounting Selling and Marketing Making a Business Plan Game 9. Amrut Zarnu Information about Amrut Zarnu Amrut Zarnu is the most important activity of Sewa Bank. In this activity there is mobile van which goes in different areas five days in a week. The van contents 29" colour TV, CD and cassette player, Generator, big umbrella, carpet and posters. In this Amrut Zarnu explanation of Bank's activity given to the participants, History of the Sewa Bank, Objectives of Bank, Services of Bank, Schemes of Bank, How can they join with the Bank, What are the benefits in different schemes. How to save money? Motive of [ 69 ]

29 this activity is to reach more and more people who do not know about the Sewa Bank and its services. 10. SEWA BANK ENERGY SERVICES CELL In 2004, during a study commissioned by United Nations Office for Project Services, a UN outfit, MHT and SEWA Bank had jointly undertaken a study to develop a consumer lending and micro finance strategy to expand access to energy services for the rural and urban poor. During this study MHT and SEWA Bank conducted extensive need assessment survey across its various co-operatives viz., health workers, livelihood creation, child care & education, artisans etc., to understand the linkages required in the delivery of energy services covering cooking, household lighting, powering sewing machines and other equipment used in income generating activities. As a result of this need assessment survey, MHT and SEWA Bank were able to understand the need for interventions in the energy area for its members. 11. Rural Activities Over 70 percent of the populations in villages are dependent on agriculture for their survival. In Gujarat, which has an erratic rainfall and where the average land holding size though 7 acres but with skewed distribution, people often land up putting their assets for mortgage just to meet their day to day needs. Being increasingly dependent on agriculture, which occupies only 2 to 3 months of their time when they work in their fields, they are forced to look out for other sources of income. And more of then than not they land up in the vicious circle of poverty. Realizing the grave need of banking for the rural sector, Sewa Bank began providing banking services at the doorsteps of poor women. This concept was revolutionary in Indian banking history. It had the desired impact. In the year 1993, Sewa Bank began its banking activities in the rural districts of Gujarat after getting the required permission from the Reserve Bank of India. Carried out through the formation of self-help groups, who collect savings from the members and deposit it with the bank, the formation [ 70 ]

30 of these groups saw the culmination of SEWA's efforts to organize women agricultural laborers in rural areas, which began in How these groups function makes interesting reading. Once motivated by Sewa Bank's staff, these women elect their own leader and also give a name to their group. The group then formulates rules and regulations as to membership, savings, loans and management. Sewa Bank trains the group in matters of administration, accounting and management. If after a year, the group is regular in saving, it becomes eligible for borrowing. The loan sanctioned is in the name of the group and is in direct proportion to its savings. It is for the group to decide the disbursement to the individual and that included the amount, interest and repayment schedule. The bank also provides support for releasing mortgaged land and other productive assets; meeting working capital needs; acquiring assets and for creating productive infrastructure. The groups may rotate their own savings as loan. Providing banking services at the doorstep of these poor women in order to pull them out of the vicious circle of poverty and free them from unscrupulous moneylenders, thus making them self-sufficient is a long drawn process but a beginning has been made. The whole purpose of this exercise is to strengthen them at the grassroots level itself and make them the owners, user and managers. Activities in Districts What started as a mere project in a district outside Ahmedabad city, where Sewa Bank has its origins, is today, a movement, which is fast growing and gathering momentum encompassing in its fold more and more members. Today, Sewa Bank covers 10 districts of Gujarat and has been instrumental in not only cultivating the habit of saving amongst its members, but in bringing out leadership qualities in them as well. This has seen confidence, which was severely lacking grow manifold. This became possible because the bank decided to not only bank with its customers, but bank on them for making further inroads and help more of their ilk to overcome financial difficulties. The top it all they have assets and capital to fall back on. [ 71 ]

31 District Groups Membership Savings Ahmedabad Kheda Gandhinagar Banaskantha & Patan Vadodara Surendranagar Mehsana Sabarkantha Kutch TOTAL MANINAGAR CO-OP. BANK LTD. Maninagar Co-operative Bank: establish in 3/3/71. SERVICES Safe Deposit (Locker Facility) Locker facility are made available to clients at our Naroda, Gurukul Road Memnagar, New Cloth Market and Jodhpur branches and we have received excellent response from the public. RTGS Services RTGS Services are made available at all the Five Branches. Insurance Services The Bank has started providing insurance security(general) by making tie-up with Bajaj Allianz Insurance Ltd. Remittance Services Remittance Services i.e. issue of Drafts are provided by the Bank, the Bank has made necessary arrangement for issue of Drafts with HDFC Bank Ltd. Stamp Franking Facility Bank s Maninagar co operative bank: Provides Stamp Franking Facility as an Authorised Stamp Franking Vendor, of Govt. of Gujarat. [ 72 ]

32 Education Loans Maninagar co operative bank s Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions. The current rate of interest is around 11% (subject to change) as per policy. RATE OF INTEREST FOR EDUCATION LOANS Education Loan % Vehicle Loans Vehicle loans are sanctioned to purchase Two/ Four wheelers vehicles. Required to be repaid within 48/60 monthly installments Rate of interest ranging between 11% to 13.5%. Vehicle Loans (48/60 Months) New Vehicle Old Vehicle Two/Four Wheeler 11 % % Commercial Vehicle % Housing Loans Housing loans are sanctioned to enable individuals to have their own Houses. The property is required to be mortgaged by way of registered equitable mortgage. The rate of interest for housing loans is ranging from 13% to 14%. 75% to 80 % of the total cost of the property is given by way of loan. The loan is to be repaid within maximum period of 10 years by monthly installment. For more information about Maninagar co operative bank Housing Loan Scheme, contact one of our knowledgeable loan representatives at one of our branches. We will be happy to help you to choose the best offer available with us. [ 73 ]

33 NARODA NAGRIK CO-OPERATIVE BANK LTD In the year 1969 a few leading personalities of Naroda Town thought that in order to augment the Deposits from the individuals and small businessmen of the town and in turn to utilize the same towards the upliftment of the common men and small borrowers by way of granting need base credit with the intention to improve their standard of living, we should start a co operative Bank at Naroda. The other local people of Naroda also felt that in order to have substantial return on their deposits and further to financially help the needy persons, small borrowers and S.S.I units, we should have our own co operative Bank in the Town. The said idea was subsequently materialized in the year 1971 and the Naroda Nagrik Cooperative Bank ltd was established in the same year. The local people and businessmen became the share holders of the bank and gave full support. The premises were acquired on the rental basis and the Bank started functioning since Jan The well known personalities of Naroda Shri Mohanbhai Shankerbhai Patel was selected the first Chairman of the Bank and Shri Prahladbhai Kashidas Patel was selected as Managing Director. Since then the Bank made considerable progress and at present the bank is considered as one of the leading cooperative bank of Ahmedabad. The founder Chairman & Managing Director gave their honorary services and worked very hard for the Bank s development. Shri Mohanbhai Shankerbhai Patel was having his own Ginning Factory at Naroda while Shri Prahladbhai Kashidas Patel was running a Textile and Sizing Unit. The Bank is affiliated with the Gujarat State Cooperative Bank ltd. Being the Apex Affiliation Bank of Gujarat State, as also the Ahmedabad District Co.op. Bank Ltd as a Central district Bank. In the matter of Bank assurance, the Bank has tie-up/referral arrangement with following insurance companies of repute. Life :- ING Vysya Life Insurance Co.Ltd. Non Life:- Bajaj Alliance Insurance Co.Ltd. [ 74 ]

34 SERVICES Safe Deposit (Locker Facility) Locker facility are made available to clients at our Naroda, Gurukul Road Memnagar, New Cloth Market and Jodhpur branches and we have received excellent response from the public. RTGS Services RTGS Services are made available at all the Five Branches. Insurance Services The Bank has started providing insurance security(general) by making tie-up with Bajaj Allianz Insurance Ltd. Remittance Services Remittance Services i.e. issue of Drafts are provided by the Bank, the Bank has made necessary arrangement for issue of Drafts with HDFC Bank Ltd. Stamp Franking Facility Bank s Naroda Branch Provides Stamp Franking Facility as an Authorised Stamp Franking Vendor, of Govt. of Gujarat. Education Loans Naroda Nagrik Co-operative Bank s Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions. The current rate of interest is around 11% (subject to change) as per policy. RATE OF INTEREST FOR EDUCATION LOANS Education Loan % Vehicle Loans Vehicle loans are sanctioned to purchase Two/ Four wheelers vehicles. Required to be repaid within 48/60 monthly installments Rate of interest ranging between 11% to 13.5%. [ 75 ]