Credit Co-Operative Bank

8/3/2019 Credit Co-Operative Bank

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Credit Co-operative Bank

Submitted to:

Prof.Swapna Joshi


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Co-operative Banks:

y Cooperative banking is retail and commercial

banking organized on a cooperative basis.

y Cooperative banking institutions take deposits

and lend money in most parts of the world.y Cooperative banking (for the purposes of this

article), includes retail banking, as carried out by

credit unions, mutual savings and loan

associations, building societies and cooperatives,as well as commercial banking services provided

by mutual organizations (such as cooperative

federations) to cooperative businesses.


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Credit Co-operative Banks:

y Credit unions have the purpose of promoting

thrift, providing credit at reasonable rates, and

providing other financial services to its members.

y

Credit union members are usually required toshare a common bond, such as locality, employer,

religion or profession.


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Objectives & Functions of Credit Co-

operative Banks:

y To ensure overall direction and regulation of the

cooperative movement.

y To supervise and guide the activities of the central

cooperative banks.

y To act as an investment agency for the central

cooperative bank.

y To establish and maintain control with money market

and RBI.

y To formulate and execute credit policies for the

cooperative movement in the whole state.

y To coordinate the cooperative policies of the state.

y To act as a banking centre, clearing house and

financing agency of the cooperative institutions.


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About Saraswat Co-operative Bank:

y The Bank has a very humble but a very inspiring

beginning.

y On 14th September 1918, "The Saraswat Co-

operative Banking Society" was founded. Mr. J.K.Parulkar became its first Chairman, Mr. N.B.

Thakur, the first Vice-Chairman, Mr. P.N. Warde,

the first Secretary and Mr. Shivram Gopal

Rajadhyaksha, the firstTreasurer.

y These were the people with deep and abiding

ideals, faith, vision, optimism and entrepreneurial

skills.


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Mission Statement:y "To emerge as one of the premier and most preferred

banks in the country by adopting highest standards

of professionalism and excellence in all the areas of

working!!!"


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Managing and Organizing Structure

Of the Bank:

y The management of state co operative bank is done

by the board of directors which is the elected body of

representative of central cooperative banks and other

individual share holders.

y There is a central executive committee on which the

members are appointed by the state government

y representatives of the district central banks,

y representatives of other share holders,

y representatives of affected cooperative society,

y representatives of urban cooperative banks,

y representatives of land development banks and

y one representative of the central industrial

cooperative bank.


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Structure of the Bank:


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Structure of the Bank:


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Services provided by Bank:

Services

Debit CardsMobile

Banking

Easy pay

ATM

Insurance


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Debit Cards

y This card can be used as an ATM card for

withdrawing cash at the following ATMs:

a. Saraswat Bank ATMs

b. BANCS ATMs

c. Visa enabled ATMs


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Mobile Bankingy Saraswat Bank has introduced Mobile Banking.

y Bank has started forwarding various messages toits customers on their mobile:

a. Debit / CreditTransaction Message for amountof Rs.5000/- & above.b. Term Deposit maturity intimation (7 days priorto maturity)c. Inward Cheque Returned Intimation.

d. Outward Cheque Returned Intimation.e. Account overdrawn intimation.f. Greetings / Promotional messagesg. New product launch message


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ATM Servicesy They issue ATM card to all their clients who open

account with their Bank.

y Being A Saraswat Bank ATM cardholder,customer enjoys the privilege and convenience of

withdrawing cash at his convenience at timeduring day and night on all 365 days in a year.

y He can draw cash from ATMs of Saraswat Bankas well as over 2461 ATMs of 20 members Banks

in "BANCS" network.y For drawing cash from the ATMs of Consortium

banks, no charges are levied.


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Easy Payy Here is one more exciting facility the Bank has offered to relieve its

customers, their esteemed client, from spending their valuable time

standing in a queue for routine utility bill payments.

y

All customers have to do is to walk into any of their branch andregister themselves under :

y Easy Pay" scheme for all recurring utility bill payments such as

Telephone, Electricity Bills, Cellular Phone Bills, Insurance Premium

& many more.y Once the customers are registered all their future bills will be paid

automatically through their bank account with them.


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Insurance

Tie up with M/s.HDFCStandard Life InsuranceCompany Limited.

Life

Insurance

Tie up with M/s. Bajaj

Allianz General InsuranceCo Ltd.Non-LifeInsurance


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Life Insurance

Endowment Plan

Childrens Double Benefit Plan

Term Assurance Plan

Regular Personal Pension Plan


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Non-Life Insurance

Health Guard

Travel Companion

Personal Accident Insurance

Vehicle Insurance


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Mutual Fund:

y Considering the changes in Indian demographics

(more than 70%of the population below the age

of 35), changes in investment pattern (rising

disposable incomes created a huge potential for

investment in Insurance and Mutual Funds),

increased competition and thinning of Interest

margins, the Indian Banking Industry had to

redesign their bouquet of products and introduce

marketing of third party products like Insuranceand Mutual Funds, to increase fee based income.


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Major Fund Houses:

y Birla Sunlife Mutual Fund

y Franklin Templetoin Mutual Fund

y HDFC Mutual Fund

y ICICI Prudential Mutual Fundy Kotak Mahindra Mutual Fund

y Principal PNB Mutual Fund

y Reliance Mutual Fund

y Tata Mutual Fund

y UTI Mutual Fund


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Financial Results:

y Saraswat Bankreleases it's financial related

information through this section, one can view

Annual Reports of the last 2 financial years at any

given time.


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PERFORMANCE HIGHLIGHTS FOR

THE YEAR ENDED March, 2009 (RS. IN

CRORES)

Particulars 31/3/08 31/3/09

Interest Earned 1023.11 1270.45

Other Operating Income 154.48 229.47

Total Income 1177.59 1499.92

Interest Expenditure 696.85 911.08

Operating Expenditure 233.96 263.48

Total Expenditure 930.81 1174.56

Gro

ss Prof

it 246.78 325.36(-)Provisions 14.94 9.75

Operating Profit before

Tax

231.84 315.61


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Cotd...Particulars 31/3/08 31/3/09

(-)Income Tax Expenses 29.58 74.32

Net Profit afterTax 202.26 241.29

Exceptional Items - 30.50

Deposits 11430.82 12918.85Advances 7448.31 8110.41

Net NPAs - -

Paid up Capital

Share Capital 71.21 77.50

Reserves 1059.74 1096.71

Capital Adequacy(%) 10.85 10.92


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Suggestions:y The bank needs to improve the quality of it

working staff and hire fresh talent.

yAlso the bank needs to give more attention to itsmutual fund sector as it is a fast growing sector

with huge investment.y It should also try and introduce demat facilities to

its customers as more and more customers areinterested in the stock exchange.

yIt should make a foray in the online bankingsector to make it more convenient for thecustomers.

y The bank also can improve its telephone bankingservices so customers can make most of it.


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Bibliography:

y The information is taken from

y www.google.co.in

y www.saraswatbank.com

y Management of cooperatives by Ramkishen .Y.


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Acknowledgement:

y We would like to thank Prof.Swapna Joshi for

giving us this project and letting us know the

information on Credit Co-operative Society.

Credit Co-Operative Bank

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