co operative working- nkgsb bank

ASSIGNMENTNAME - ROHAN W. MOHITE

CLASS/DIVISION - S.Y.B.M.S./B

ROLL NO. - 87

SEMESTER - III

YEAR - 2012-2013

SUBJECT - CO-OPERATIVE AND RURAL

MARKETS

COLLEGE - K.G. COLLEGE OF ARTS & N.G.

BEDEKAR COLLEGE OF COMMERCE

TOPIC-

CREDIT

CO-OPERATIVE

INSTITUTIONS

NKGSB CO-OPERATIVE BANK LTD.

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CO-OPERATIVE AND RURAL MARKET

North Kanara Gaud Saraswat Bank

The Bank is centralized in Mumbai. It is located at

NKGSB COOP BANK, HEAD OFFICE, NKGS0000001 / 400086001 / 000001, 361, LAXMI SADAN, V.P. ROAD, GIRGAON, MUMBAI – 400004.City: MUMBAI District: GREATER BOMBAYState: MAHARASHTRA. Country- India.

BOARD OF DIRECTORS

Chairman- KISHORE KULKARNI

Vice-Chairman- GANPATI NADKARNI, B.Com. FCA, FCS, AICS (U.K.)

Directors-

RAJAN BHAT, M.Com.; NAGESH FOVKAR, Civil Engineer; SUNIL GAITONDE, B.Com, LL.B., FCA; SHREEDHAR KAMAT, B.A. (Hons.), LL.B.; VASUDEV MASUREKAR, B.Sc., LL.B, D.T.M.; KAUSHAL MUZUMDAR, B.Com, FCA, PGDM, (IIMB).; ANIL NADKARNI, B.Sc., PGDCM; NAGESH PINGE, B.Com. (Hons.), LL.B. (Gen), ACA; LAXMIKANT PRABHU, B.E. (Civil), PG-HRM; SUJATA RANGNEKAR, B.Com., LL.B, ACA. Managing Director- CHINTAMANI NADKARNI, B.Com. , ACA. Statutory Auditors- M/S. BORKAR & MUZUMDAR, Chartered Accountants.

This shows the team, the well qualified and well established team as the Board of Directors; who are from different fields but working as one for the good of People and indirectly for the Bank.

INDEX

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Sr. No TOPIC PAGE1. INTRODUCTION 32. CAUSE OF NCORPORATION 43. BANK’S PRODUCTS & SERVICES 5-74. BANK’S INITIATIVES & WORKING 7-85. ACHIEVEMENTS 9-106. SUGGESTION 11

The NKGSB Co-operative Ltd. Bank was founded by great visionary Sheth Shantaram Mangesh Kulkarni on 26th September, 1917 as a credit society. Later it was converted into Urban Co-operative Bank in 1993. The bank’s philosophy is based on four core principles- pillars of service excellence, customer focus, product innovation and resourceful people. They have a core banking solution, for customers so to access their accounts and perform banking operations ‘Anywhere Anytime’ plus enjoying value added services. The bank is for all the Persons. It has tie-ups with Insurance companies like ‘Max life insurance’ for selling life insurance and ‘Oriental insurance co. ltd.’ for selling non-life insurance policies.

Business Mix – Rs. Rs.5,200 Cr in the last five years.

Vision A premier co-operative bank.

Operating Principles

It will make our Customers, Shareholders and Community at large very proud,

It will always strive to provide Customers the best products and services that leads to their progress and prosperity,

It shall act with high level of integrity, achieving the set goals with active involvement, devotion and commitment of our employees.

Identifying what we need to do and then actually doing what we planned to do

BRANCHES- KARNATAKA, GOA & GUJARAT. Including

IN MAHARASHTRA- NASHIK, PUNE, NAVI MUMBAI, MUMBAI, KONKAN, KOLHAPUR.

Cause Of Incorporation

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The Bank was converted into cooperative for the following-

1. To satisfy credit needs of people/consumers, by working in cooperation, equality, morally, economically, socially and legally;

2. To deliver products and services of bank to consumers that may satisfy them (reasonable- rate of interest, credit for all levels of the society, performing functions of a commercial bank, etc.);

3. To enjoy Benefits of a Co-operative Bank (limited liability, exemption from tax, low cost operation, stability, etc.);

4. To increase the security of people’s accounts in a credit cooperative;

5. To eliminate exploitation of consumers, any political influence or any other similar problems related to commercial problems;

6. For welfare and development of society;7. Improve the condition in which credit cooperatives work;8. To accept deposits and raise capital through share capital;9. To expand and promote the field of Credit Co-operatives in

INDIA.

Activities done by NKGSB co-op. Bank – (special activities)_

1. Centralized processing cell at Virar.2. ITES server farm at Gorai.3. Felicitation done of meritorious students to encourage

them.

Products offered by the Bank-

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1) Savings Account- Savings Account comes with a host of convenient features and banking channels to transact through.

Salient features of the scheme:

Minimum opening balance Rs.500/- without cheque book, Free cheque book of 60 leaves, in case of minimum opening balance Rs.1000/-, Free ATM card facility, Desk Drawing facility, Free account statement facility, Fund transfer facility through RTGS/NEFT anywhere in India, Any branch banking facility, Demat facility, Safe deposit locker facility, Interest @ 4% p.a. on daily balance products.

2) Current Deposit-

Salient features of the scheme:

Minimum opening balance Rs.3000/-, Cheque book at nominal price, Free ATM card facility for Proprietor (s), Desk Drawing facility, Free account statement facility, Fund transfer facility through RTGS/NEFT anywhere in India, Any branch banking facility, Demat facility, Safe deposit locker facility.

3)Term Deposit-

Salient feature of the scheme-

Minimum opening balance- Rs.1000, Minimum period= 15 days and maximum = 364 days, Interest paid along with principal on maturity, Can avail loan upto 90% of the available deposit, Interest as per card rates.

4) A) Retail loans –

Features & Benefits-

Interest charged on daily reducing basis, No pre-payment charges for repayment through own source, Attractive interest rate, Simplified documentation, Easy repayment options - ECS/ Post dated cheque / Standing Instruction, Low processing fees, Speedy loan approval, Offers Insurance cover for all assets at attractive premium.

4)B) Corporate Finance-

Features & Benefits-

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Interest charged on daily product basis, at monthly rest, Simple documentation, Low processing fee, Speedy approval, All services under one roof.

5) MTSS-

Money Transfer Service is a boon to NRIs and their families as well as visiting Foreign Tourists and Students in India. In a strategic tie-up, Bank brings inbound instantaneous inward remittance to your doorsteps under Money Transfer Services (MTSS Scheme of RBI). & Others.

Services offered by the Bank-

1)Any Branch Banking

2)Quick ATM

3)Ancillary Business- Bank offers various Value Added Services,

Demat, Stamp Franking, Desk Drawing, Safe Deposit Locker, Life Insurance / Non-Life Insurance, Forex, I-Connect.

4)Real Time Gross Settlement System (RTGS)

RTGS is a more robust payment system enabling inter-bank fund transfers of above Rs.1 Lac. Transfer of funds is done by simple instruction to bank to transfer funds from your account to another bank account whereby settlement is done continuously.

5)National Electronic funds transfer (NEFT)

Presently all branches of NKGSB are CBS enabled to offer NEFT facility to our customers. This system facilitates an efficient, secure, economical, reliable and expeditious system to transfer fund below Rs 1 Lac. and clearing throughout India.

& others.

Working-

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The Bank Works as per its functions, initiatives, vision and mission, operating principles and the cause for its incorporation. Currently, the Bank works in proper way. The following figures represent their working-

(Amount in lakhs)

Sr. no.

Particulars/ Important Titles Amount (Rs.)

1. Members 77675(No.)2. Paid-up Capital 5327.643. Reserves 32561.604. Deposits 325365.855. Advances 196124.316. Investment 132208.347. Cash and Bank Balance 19674.258. Working Capital 372355.219. Fixed Assets 30482.0010. Gross NPA’s (no Net NPA) 4728.2111. Net Profit 3600.5012. Total Dividend Amount (@ 15%) 700.00

ACHIEVEMENTS OF NKGSB BANK -

1. Best Urban Co-operative Bank Award,2. The BANK’S Growth Chart

3.

SUGGESTIONS

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1. The Bank should expand its operations further in more states in INDIA. It is a research found that cooperative banks do not move beyond Maharashtra, Karnataka, Gujarat and Tamil Nadu. This Bank is doing the same, it should not do it.

2. It should reduce its working capital, making a way for more profits.

3. Adopt Technology faster as still Internet Banking is to be launched in its active service list.

4. Continue the promotional and welfare measures with reducing expenditure.

5. Proper sale of unused/scrap material/furniture, bringing some reasonable revenue/income for the bank and making less losses, because the losses are seen.

6. Buy areas suitable for trespassing or area of operation of consumers in the Bank. It is seen the area/property is small place to operate. Improve Infrastructure.

7. Improve Advertising, by bringing something attractive and effective.

CONCLUSION With this, I end this Assignment. This assignment tells you- About NKGSB Co-operative Bank Ltd., it’s authorities, working, their principles and initiatives, their products and services. Further on which I have given my individual suggestion as to the Bank, as what it should do for its more progress.