vishweshwar sahakari bank ltd 2016 vishweshwar bank...2 the vishweshwar sahkari bank ltd., pune...

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2015-16 44 dmdm{f©H$ Ahdmb

THE VISHWESHWAR SAHAKARI BANK LTD., PUNE(Multi-State Bank)

Head Offi ce : 471 / 472, Market Yard, Gultekdi, Pune 411 037, Maharashtra.Phone : (020) 2426 1755 / 2745 • Fax : (020) 2426 0577 • Customer Care : 98819 09700

• Email : [email protected] • website : www.vishweshwarbank.com

Statutory AuditorM/s. Gogate & Co.

Chartered Accountants, Pune

Shri. Anil Bharatsheth Gadve ChairmanShri. Amol Ashok Maniyar Vice-ChairmanShri. Suniel Namdeorao Rukari DirectorShri. Bapusaheb Narayanrao Dhankawade DirectorShri. Sharad Ganpatrao Hapse DirectorShri. Rajendra Ramesh Mirje DirectorShri. Nandkumar Vasantrao Honrao DirectorShri. Govind Fakirrao Kamthe DirectorLate. Shri. Ramchandra Laxman Jotkar Director (up to 19/7/2015)Sou. Kalpana Sharad Ganjiwale DirectorSou. Simantini Kiran Todkar DirectorShri. Ratnakar Muralidhar Deole Expert DirectorShri. Manoj Vasant Sakhare Expert DirectorDr. Chintamani Gopal Vaijapurkar Chief Executive Offi cer

BOARD OF DIRECTORS

Registration No.PNA/BNK/204/72 Dt. 18.09.1972

License No.UBD/MH 976 P Dt. 03.08.1988

Multi-State Reg. No.MSCS/CR/393/2011 Dt. 08.02.2011

THE VISHWESHWAR SAHKARI BANK LTD., PUNE (Multi-State Bank)2

44 dmdm{f©H$ Ahdmb 2015-16


Head Offi ce : 471/472, Market Yard, Gultekdi, Pune 411 037.Phone : (020) 2426 1755 / 2745

Email : [email protected], Website : www.vishweshwarbank.com

NOTICE OF 45th ANNUAL GENERAL BODY MEETING(Only for members)

44th Annual General Meeting of The Vishweshwar Sahakari Bank Ltd., Pune will be held on Friday the 20th May 2016 at 5.00 p.m. at Late. S. M. Joshi Auditorium, 191/192, NaviPeth, Near PatrakarBhavan, GanjweChowk, Pune 411 030 to transact the following business. Members are requested to attend the meeting.

AGENDA FOR THE MEETING1) To read and confi rm the minutes of the Annual General Meeting held on 22nd May 2015.2) To consider and adopt the Annual Report for the year 2015-16 and Balance Sheet as

at the end of 31st March 2016 and Profi t and Loss Statement for the period of 2015-16 of the Bank and to consider the suggestions, questions received in writing from the members.

3) To consider & approve appropriation of profi t for the year 2015-16 as suggested by the Board of Directors.

4) To consider Statutory Audit Report from M/s Gogate& Co., Chartered Accountants for the fi nancial year 2015-16 and compliance report for the fi nancial year 2014-15.

5) To appoint Statutory Auditors recommended by Board of Directors for the fi nancial year 2016-17 and authorize Board of Directors to fi x their remuneration.

6) To approve the appointment of Internal Auditors recommended by Board of Directors and to fi x remuneration for the year 2016-17. To authorize Board of Directors to appoint Internal Auditors for 2017-18 and to fi x their remuneration.

7) To take a note of loans and advances sanctioned and outstanding from the directors and their relatives during the fi nancial year 2015-16 as per section 39(3) of The Multi-state co-operative Societies Act, 2002.

8) To consider and approve one time settlement of loans and advances sanctioned by Board of Directors during the fi nancial year 2015-16.

9) To approve amendments to the existing bye-laws of the Bank. 10) To approve and addopt Scheme of One Time Settlement for 2016-1711) To grant leave of absence to those members of the Bank who have not attended this

General Meeting. 12) Any other subject by the permission of Hon. Chairman.

Place : PuneDate : 2nd May 2016

Note: If the meeting is adjourned for want of quorum, the said adjourned meeting will take place at 5.30 pm at the above place on the same day and shall conduct the business irrespective of the number of members present.

On Behalf of Board of Directors,

Dr.Chintamani VaijapurkarChief Executive Offi cer



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Head Offi ce : 471/472, Market Yard, Gultekdi, Pune 411 037.

Phone : (020) 2426 1755 / 2745

Email : [email protected], Website : www.vishweshwarbank.com

‘mÝ`da g^mgX ~§Yy Am{U ^{JZr,Amnë`m ~±Ho$Mo {X. 31.03.2016 amoOrMo H$m`© n[aUm‘ dm{f©H$

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`mdfuXoIrb OmJ{VH$ Am{W©H$ ‘§Xr, H$ÀÀ`m VobmMo KgaVo ^md, maVr` én`mMo Kgabobo ‘yë`, H|$Ð gaH$maZo gaH$mar ~±H$m§Zm H$am`bm bmdbobr Vmio~§XmMr g’$mB©, Xmobm`‘mZ eoAa~mOma Am{U XoemÀ`m 1/4 ^mJmV nS>bobm XwîH$mi `m gd© nmœ©^y‘rda Amnë`m ~±Ho$Zo gmYbobo H$m`©n[aUm‘ IamoIarM Mm§Jbo AmhoV. `mdfu Amnë`m ~±Ho$Zo EHy$U ì`dgm`mV 15% dmT> Ho$br Amho. ~±Ho$À`m ZoQ>dW©‘Üò <. 117 H$moQ>rMr KgKerV dmT> Pmbr Amho. n§T>anya d gm§Jbr `m Zì`m emIm dJiVm AÝ` gd© emIm Zâ`mV AmhoV.

gÜ`mÀ`m OmJ{VH$ Am{U ^maVr` AW©ì`dñWo~m~V ~mobm`Mo Pmë`mg, ^maVr` AW©ì`dñWm hr MrZÀ`m ~amo~arZo PnmQ>çmZo dmT>Umar AW©ì`dñWm åhUyZ CX`mg oV Amho. Owb¡ Vo gßQ>|~a 2015 `m {V‘mhrV maVmMo gH$b Xoem§VJ©V CËnÞ 7.4% EdT>o Pmbo AgwZ Vo MrZÀ`m 6.9% nojm {Z{üVM A{YH$ Amho. ~±H$s¨JjoÌmH$S>o nmhVmZm, ‘hmJmB©da {Z`§ÌU {‘i{dÊ`mÀ`m Ñï>rZo [aPìh© ~±H$ Am°’$ B§S>r`mZo OmZodmar 2015 nmgwZ Am{W©H$ dfm©AIoa n`ªV Mmadoim ì`mOXamV H$nmV Ho$br. `m ì`mOXa H$nmVt‘wio CÚmoJm§À`m H$Omªdarb IMm©V H$nmV hmoD$Z dmT>rgmR>r ‘XV Pmbr.

Dear Members, This is my honor to address all respected

members of the bank on behalf of the Board of Directors, the management and the employees. I extend a warm welcome to every one of you at this 44th Annual General Meeting of the Bank. I take this opportunity to express my sincere thanks for the consistent support provided by you to us. I also thank for the continued trust and support extended by the loyal customers, the devoted staff members and all known unknown well-wishers who have always encouraged and motivated us. I understand a great responsibility of excelling our performance.

I briefl y cover recent economic trends with respect to world as well as India. India is now set to compete with China to become the world’s fastest growing major economy. India’s GDP grew by an annual rate of 7.4 % as compared to 6.9% of China in the July-to-September 2015 quarter. On the banking front, Since January 2015 The Reserve Bank of India (RBI) cut interest rates four times during year as infl ation eased sharply. Rate cuts had been widely called for by the industry to reduce the cost of borrowing and help to stimulate growth.

The whole Banking sector had faced various challenges in last year with very

44 dm dm{f©H$ Ahdmb gZ 2015-16(44th ANNUAL REPORT 2015-16)



g§nyU© ~±H$s¨J joÌ `mdfu {d{dY g‘ñ`m§Zr J«ñV hmoV§. Á`m‘Ü`o Mm§Jë`m H$O©Xmam§Mm A^md Am{U H$mhr ~S>çm CÚmoJm§‘wio EZnrE‘Ü¶o Pmbobr dmT> g‘m{dï> Amho. gZ 2015-16 `m g§nyU© Am{W©H$ dfm©V jrU AW©ì`dñWm, R>odr d H$Om©Vrb VwbZoZo H$‘r Pmbobr dmT> `m ~m~r nhmd`mg {‘imë`m. `m gd© nmœ©^y‘rda Amnë`m ~±Ho$Mo H$m`©n[aUm‘ {Z{üVM g‘mYmZH$maH$ AmhoV. Ë`mMr Vnerbdma ‘m{hVr Amåhr nwT>o Z‘yX H$aV AmhmoV.

Z’$m dmQ>Ur :- ~hþamÁ`r` ghH$mar g§ñWm H$m`Xm 2002 Am{U Amnë`m

~±Ho$Mo nmoQ>{Z`‘ `m§À`m Am{YZ amhÿZ g§MmbH$ ‘§S>imZo gwM{dbobr Z’$m dmQ>Ur nwT>rbà‘mUo Amho.

less credit appetite and increase in % of NPAs by some corporate houses. Throughout the fi nancial year 2015-16, weak operating economy, passive growth of deposit and advances was witnessed. In spite of these challenges our bank is able to post satisfactory results. We give below the details of the major parameters.

Appropriation of Profi tsIn compliance with the byelaws of the bank and

provisions of Multi-State Co-operative Societies Act 2002, the Board has recommended the following appropriation to be made out of profi t of the bank.

(Rs. crore)

Vnerb Particulars 31.03.2016 31.03.2015 dmT> / KQ> Increase/Decrease in Rs.

R>odr Deposits 1506.95 1308.65 198.30

H$O} Advances 975.33 852.70 122.63

EHy$U ì`dgm` Business Mix 2482.28 2161.35 320.93

R>odr H$O© JwUmoÎma CD RATIO 64.72 65.16% ------

IoiVo ^m§S>db Working Capital 1685.86 1463.52 222.34

^m§S>db n`m©áVm JwUmoÎma CRAR 14.26% 14.86% ------

T>mo~i EZnrE à‘mU Gross NPA % 3.68% 4.70% ------

{Zìdi EZnrE à‘mU Net NPA % 1.45% 2.54% ------

bm^m§e Dividend % 12% ( Proposed) 12% ------

A. H«$. Vnerb Particulars a¸$‘ Amount is Rs. 1 d¡Ym{ZH$ amIrd {ZYr Statutory Reserve Fund 26.05 % 39,118,751.02

2 d¡Ym{ZH$ AmH$pñ‘H$ {ZYr Reserve For Unforseen Lossess 10.00 % 15,018,760.00

3 e¡j{UH$ ’§$S> Education Fund 1% 1,501,876.00

4 AmH$pñ‘H$ {ZYr Provision For Contingencies 20,000,000.00

5 bm^m§e Dividend 12% 52,500,000.00

6 gmZwJ«h AZwXmZ Ex-Gratia 12,500,000.00

7 godH$ H$ë`mU {ZYr Sevak Kalyan Nidhi 322,207.00

8 g^mgX H$ë`mU {ZYr Sabhasad Kalyan Nidhi 220,000.00

9 XoUJr Donations 1,475,000.00

10 B‘maV {ZYr Building Fund 5,000,000.00

11 Jw§VdUyH$ MT> - CVma {ZYr Investment Fluctuation Reserve 2,031,000.00

12 gwdU© ‘hmoËgd {ZYr Golden Jubilee 500,000.00

Total 150,187,594.02



OmJ{VH$ AW©ì`dñWm - df© 2015-16 À`m OmJ{VH$ Am{W©H$ gd}jUmV

OmJ{VH$ AW©ì`dñWm Xmobm`‘mZ Agbr Var ^maVr` AW©ì`dñWm AÝ` CX`moÝ‘wI AW©ì`dñWm§nojm df© 2015-16 ‘Üò A{YH$ ‘O~yV Pmë`mMo {XgVo. na§Vw ‘w§~B© d H|$Ðr` eoAa ~mOmam§Mo gyMH$m§H$ 20% Zr H$‘r am{hbo, Ë`m‘wio Ë`mMm {dnarV n[aUm‘ nm`m^yV ì`mOXam§da Pmbm. Ë`m‘mJo én`mMr KgaU, {MZÀ`m òZ `m MbZmMo Ad‘yë`Z, naH$s` Jw§VdUyH$Xmam§Zr Ho$bobm {dH«$sMm ‘mam Am{U H$‘Hw$dV OmJ{VH$ AW©ì`dñWm hr H$maUo àm‘w»`mZo hmoVr. VargwÜXm ^maVmVrb g§Yr nmhVm Jw§VdUyH$sgmR>r OJmVrb bmoH${à` joÌ åhUyZ ^maVmH$S>o nm{hbo OmV Amho Am{U OmB©b Ago dmVmdaU Amho.

J«mhH$ godm :- ~±Ho$À`m ñW¡`© Am{U dmT>rgmR>r J«mhH$godm hm nm`m^yV

KQ>H$ Amho. J«mhH$m§À`m CX²~moYZm‘wio ~±H$m§Zm A{YH$ gj‘nUo H$m‘ H$aUo Amdí`H$ Pmbo Amho. `m‘wio ~±Ho$Zo Amnbo V§ÌkmZ gwYmaÊ`mÀ`m Ñï>rZo {dMma Am{U VaVyX Ho$br Amho. {Zð>mdmZ d g‘mYmZr J«mhH$ Zoh‘rM Z{dZ J«mhH$ {‘idyZ XoV AgVmV. Ë`m‘wio Ago OwZo {Zð>mdmZ J«mhH$ {Q>H${dUo ho ‘hËdmMo H$m`© ~±H$ H$aVo. J«mhH$m§Mo nyU© g‘mYmZ hoM àËòH$ godH$mMo H$m‘ Amho ho g‘OyZ godH$ H$m‘ H$[aV AgVmV. `mVrb nwT>Mo nmD$b åhUOo Amnë`m ~±Ho$Zo AmYw{ZH$ V§ÌkmZmMm Adb§~ H$aUmè`m Amnë`m J«mhH$m§gmR>r aH$‘m ËdarV dJ© H$aÊ`mMr gw{dYm CnbãY H$éZ {Xbr Amho. IMPS `m ZmdmZo AmoiIë`m OmUmè`m `m gw{dYo‘wio ~±H$m§VJ©V {ZYr dJ© H$aUo ‘mo~mBëgÀ`m gmhmæ`mZo gwb^ Pmbo Amho. Amnë`m ~±Ho$Mo ~hþg§»` J«mhH$ `m gw{dYoMm dmna H$aV AgyZ Vo `m~m~V nyU© g‘mYmZr AmhoV.

gm‘m{OH$ CÎmaXm{`Ëd :- gm‘m{OH$ CÎmaXm{`Ëd nma nmS>Ê`mgmR>r ~±H$ Zoh‘rM

VËna AgVo. J«m‘rU mJmV {ejUm~Ôb OmJéH$Vm {Z‘m©U ìhmdr d Ë`m AZwf§JmZo nm`m^yV gmoB© CnbãY ìhmì`mV

Global EconomyThe Economic Survey 2015-16 stated

that is spite of a consistent volatility in global fi nancial markets, it is observed that the Indian market has been resilient during 2015-16 in comparison with other key emerging market economies. But during the last year there was a negative impact on the benchmark indices viz. BSE- Sensex and NSE- Nifty slide over 20 per cent. This was mainly because of some reasons viz. rupee depreciation, China Yuan devaluation, selling pressure by foreign institutional investors and weak global markets. In spite of these factors we feel that India can be leading investment destination in the world due to the opportunities available here.

Customer Service -Best customer service paves the way for

bank’ growth and stability. As the customer awareness grows banks need to be more effi cient. Similarly, the bank has to think of the technology up gradation and the costing of the same. A loyal customer always bring many new customers hence to retain a customer is highly important for the bank. Every employee of the bank should understand the need of satisfying customer. Considering this, our bank has launched an application for instant money transfer known as IMPS for catering the needs of our tech-savvy customers. Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. Lots of our customers are using this application regularly and are very satisfi ed.

Social ResponsibilityThe bank is always committed towards

social responsibility. The bank understands the importance of education in rural areas hence have contributed towards building a



`m Ñï>rH$moZmVyZ ~±Ho$Zo ‘wbtÀ`m dgVrJ¥hmbm, emioVrb ‘wbtÀ`m ñdÀN>VmJ¥hmbm, emioMr B‘maV ~m§YÊ`mgmR>r VgoM emioVrb ‘wbm-‘wbtZm JUdoe d døm - nwñVHo$ dmQ>Ê`mgmR>r Amnbo `moJXmZ {Xbo Amho. Ë`mM à‘mUo XwîH$miJ«ñV mJmVrb OZmdam§Zm Mmam {‘iÊ`mgmR>r XoIrb ~±Ho$Zo Amnbo `moJXmZ {Xbo Amho.

n`m©daU g§VwbZ :- H$mJXmMm dmna H$‘r H$aÊ`m~m~V nwT>mH$ma KoD$Z ‘mJrb

dfm©nmgwZ ~±Ho$Zo ‘moR>çmà‘mUmV Ahdmb N>nmB© Q>mibr AgyZ Amnë`m ~±Ho$Mm dm{f©H$ Ahdmb AmVm ~±Ho$À`m g§Ho$VñWimda CnbãY H$éZ {Xbm Amho.

R>iH$ KS>m‘moS>r : - 1. Z°’$H$~ Am{U {~Q>ñQ´r‘ `m amï´>r` nmVirdarb

g§ñWm§Zr Amnë`m ~±Ho$bm ^maVmVrb AJ«JÊ` 100 ~±H$m§n¡H$s EH$ åhUyZ Jm¡a{dÊ`mV Ambo.

2. ~±H$mo Am{U J°boŠgr BÝ‘m `m§À`m g§`wº$ {dÚ‘mZo Am`moOrV H$m`©H«$‘mV Amnë`m ~±Ho$bm df© 2014-2015 H$arVm < 1000 Vo 1750 H$moQ>rÀ`m loUrVrb ~±H$m§‘Ü`o CËH¥$ð> ~±H$ åhUyZ àW‘ H«$‘m§H$mMo nm[aVmo{fH$ Jmoì`mMo g‘mO H$ë`mU ‘§Ìr ‘m. ‘hmXod ZmB©H$ `m§À`m hñVo àXmZ H$aÊ`mV Ambo.

3. ~±H$s¨J ’«§$Q>r`g© `m§MoH$Sw>Z df© 2014-2015 Mm Best HR Strategies hm nwañH$ma àXmZ H$aÊ`mV Ambm.

4. J«rZ dëS>© npãbHo$eZ `m§MoH$Sw>Z J«rZ dëS>© ghH$ma ^yfU `m nwañH$mamZo ~±Ho$bm Jm¡a{dÊ`mV Ambo.

5. `m dfm©V J«mhH$ godoÀ`m Ñï>rH$moZmVyZ gm§Jbr emIm Mmby H$aÊ`mV Ambr.

6. VgoM ’w$agw§Jr `oWrb J«mhH$m§Mr gmo` ìhmdr `m gmR>r ’w$agw§Jr JmdmV ~±Ho$Mo n{hbo Am°’$ gmB©Q> EQ>rE‘ Mmby H$aÊ`mV Ambo.

7. IMPS (Mobile Banking) hr gw{dYm JUoemoËgdmV Mmby H$aÊ`mV Ambr.

girls hostel, construction of toilet for a school, construction of school building and providing uniforms and notebooks to students. Similarly, the bank has also contributed by way of providing food for animals in drought affected area.

Go paperless, save trees- From the previous year, we are publishing

the Annual Report on our website and not printing of annual reports in large quantity.

Highlights of some major events. 1. The Bank is awarded by NAFCUB &

BITSTREAM as one of the India’s 100 Top co-operative banks

2. The bank has received from ‘Banko and Galaxy Inama Excellent bank(1st price) award for range of 1000 crore to 1750 crore bank deposits from Mr. Mahadev Naik, Goa state Social Welfare Minister for the year 2015.

3. The Bank has received Banking Frontiers’ Best HR Strategies award for the year 2015.

4. The Bank is awarded by Green World Publication with Green World Sahakar Bhushan Award.

5. Inauguration of Sangli Branch during the year to cater needs of the Sangli City.

6. To cater the needs of the Fursungi Branch customers the bank has opened an offsite ATM in the Fursungi Village.

7. Launch of IMPS app during Ganapati Festival(Mobile Banking Inauguration)



ghdoXZm :-AmnUm§g H$im{dÊ`mg AË`§V Xw…I hmoVo H$s, Am‘Mo

g§MmbH$ ‘§S>imVrb ghH$mar lr. am‘M§Ð bú‘U OmoVH$a `m§Zm Xodmkm Pmbr. Amåhm gdmªgmR>r hm ’$ma ‘moR>m Y¸$m Amho.

F$U{ZX}e :-‘r ‘mÝ`da g^mgXm§Mo, {Zð>mdmZ J«mhH$m§Mo, g‘{n©V

godH$m§Mo, {hVqMVH$m§Mo Am{U boIm n[ajH$, ìh°ë`wAg©, {Z`§ÌAH$ `m§Zr doimodoir Ho$boë`m ghH$m`m©~Ôb Am{U {Xboë`m nmqR>ã`m~Ôb Am^ma ‘mZVmo. [aPìh© ~±Ho$Mo BÝñnoŠQ>a, [aPìh© ~±Ho$Mo A{YH$mar, H|$Ðr` d amÁ` nmVirdarb ghH$ma ImË`mVrb A{YH$mar, d¡Ym{ZH$ boImn[ajH$ VgoM A§VJ©V d g‘mdVu boImn[ajH$, n°Zob ìh°ë`wAa, gd© H$m`Xoera g„mJma, à{ejU g§ñWm `m§Mo ‘r Am^ma ‘mZVmo. ~±Ho$À`m Cƒ ì`dñWmnZm àVr Am^ma VgoM ‘mPo gd© ghH$mar g§MmbH$ Á`m§Zr Ë`m§Mm A‘yë` doi d ‘mJ©Xe©Z doimodoir CnbãY H$éZ {Xbo VgoM Ë`m§À`m nmqR>ã`m~Ôb Ë`m§Mohr Am^ma. VgoM ~±Ho$À`m àJVrV Á`m kmV d AkmV ì`º$s - g§ñWm§Zr ghH$m`© d nmqR>~m {Xbm Ë`m§Mo ‘r Am^ma ‘mZVmo.

YÝ¶dmX!Amnbm {dídmgy,

A{Zb ^. JmS>do(AÜ¶j)

Obituary :With a deep sorrow and pain I would share

with you regarding the sad demise of our board member Mr. Ramchandra Jotkar. His demise is a big loss to all of us. He extended total support to the bank.

Acknowledgements :I am thankful for the consistent support

and co-operation from all the members, all loyal customers, devoted employees, well-wishers and all regulators. I am grateful to Top Management of the bank. I am grateful to all my colleagues in the Board for their time and contribution and support extended to me during the year. I am grateful to all Statutory and Internal Auditors, Legal Advisers, Service providers; Reserve Bank of India offi cials, central and state co-operative department offi cials for their support and assistance. I express my gratitude to all known & unknown persons who are a part of the Bank’s development.

Thank you!Yours Sincerely,

Anil B. Gadve(Chairman)



M/s. Gogate & CompanyCHARTED ACCOUNTANTS

PuneINDEPENDENT AUDITOR’S REPORT

(Under Section 31 of The Banking Regulation Act 1949 and Section 73 (4) of theMulti State Co-op Societies Act 2002 and Rule 27 of Multi State Co-op Societies Rules 2002)

ToThe Members,The Vishweshwar Sahakari Bank Ltd.,PuneReport on the Financial Statements1 We have audited the accompanying fi nancial statements of the ‘The Vishweshwar Sahakari Bank Limited’, which comprise the Balance Sheet

as at 31st March, 2016 and the Statement of Profi t and Loss and the cash fl ow statement for the year then ended and a summary of signifi cant accounting policies and other explanatory information. Incorporated in these fi nancial statements are the returns of all 27 branches and Head offi ce audited by us.

Management’s Responsibility for the Financial Statements2 Management is responsible for the preparation of these fi nancial statements in accordance with Banking Regulation Act 1949 (AACS) and Multi

State Co-op. Societies Act 2002. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the fi nancial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility3. Our responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance with the

Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Bank’s preparation and fair presentation of the fi nancial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the fi nancial statements.

5. We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.Opinion6. Subject to our comments and observation contained in part A,B and C of the Audit Memorandum (HO report and Branch reports ) enclosed

herewith, In our opinion and to the best of our information and according to the explanations given to us, the said accounts together with the notes thereon give the information required by the Banking Regulation Act, 1949 (AACS) as well as Multi State Co-op. Societies Act 2002, in the manner so required for the bank and give a true and fair view in conformity with the accounting principles generally accepted in India:(i) in the case of the Balance Sheet, of the state of affairs of the Bank as at 31st March, 2016;(ii) in the case of the Profi t and Loss Account of the profi t/loss for the year ended on that date; and(iii) in the case of the Cash Flow Statement, of cash fl ows for the year ended on that date.

Report on Other Legal and Regulatory Matters7. The Balance Sheet and the Profi t and Loss Account have been drawn up in accordance with the provisions of Section 29 of the Banking

Regulation Act, 1949 (AACS)8. Subject to our comments and observations contained in the Audit Report of even date we report that:

(a) The Schedules giving the particulars referred to in Rule 27 (3) of Multi State Co-operative Societies Rules 2002 to the extent applicable are attached to report;

(b) We have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purpose of our audit and have found them to be satisfactory;

(c) The transactions of the Bank, which have come to our notice, have been within the powers of the Bank subject to our comments wherever made in the audit report;

(d) In our opinion and according to the information given to us, there has been no material impropriety or irregularity in the expenditure or in the realization of money due to the bank;

(e) The Balance Sheet and Profi t and Loss Account dealt with by this report are in agreement with the books of account and the returns;(f) In our opinion, proper books of account as required by law have been kept by the Bank so far as appears from our examination of those books;(g) The returns received from the branches of the Bank have been found adequate for the purposes of our audit.

9. In our opinion, the Balance Sheet, Profi t and Loss Account and Cash Flow Statement comply with the applicable Accounting Standards issued by Institute of Chartered Accountants of India.

Date : 21/4/2016Place : Pune

For Gogate and Co.Chartered Accountants

CA U V GogatePartner

M.No 109574FRN: 124144W



AZw~§Y "A' Annexure 'A'

~±Ho$Mo Zm§dNAME OF THE BANK

{X {dœoœa ghH$mar ~±H$ {b. nwUo (‘pëQ>ñQ>oQ> ~±H$)THE VISHWESHWAR SAHAKARI BANK LTD. PUNE (MULTISTATE BANK)

‘w»`H$m`m©b`mMm nÎmmHEAD OFFICE ADDRESS

471/472 ‘mH}$Q> `mS>©, JwbQ>oH$S>r, nwUo 411037,471/472, MARKET YARD, GULTEKADI, PUNE 411037

Zm|XUr {XZm§H$DATE OF REGISTRATION

18.09.1972

[aPìh© ~±Ho$Mm nadmZm H«$‘m§H$ d {XZm§H$DATE AND NO. OF RBI LICENSE

`w~rS>r/E‘EM 976 nr {X. 03.08.1988UBD/MH 976 P DATED 03.08.1988

H$m`©joÌJURISDICTION

‘hmamï´> amÁ` d H$Zm©Q>H$ amÁ`MAHARASHTRA STATE & KARNATAKA STATE

(RS. IN LAKHS) {Z`§ÌH$ H$m`m©b` d {dñVma H$jm§gh emIm g§»`mNO. OF BRANCHES INCLUDING CONTROLLING OFFICES & EXTENSION COUNTERS

‘w»` H$m`m©b` d emIm

H.O. + 27 BRANCHES28

g^mgXËd {Z`{‘V 22213

Zm‘‘mÌ 3029

dgwb ^mJ ^m§S>db PAID UP SHARE CAPITAL 4638

amIrd {ZYr RESERVE FUNDS 9395

R>odrDEPOSITS

Mmby CURRENT~MV SAVINGS‘wXV TERM

1078421803

118108

H$O} ADVANCES VmaUr SECURED{dZmVmaUr UNSECUREDAJ«H«$‘ H$O} %OF PRIORITY SECTOR ADVANCES

902087325

42.68%

~mhoarb H$O} {Oëhm ‘Ü`dVu ~±H$ DCC BANK‘hmamï´> amÁ` ghH$mar ~±H$ MSC BANKBVa OTHERS

---

Jw§VdUwH$s {Oëhm ‘Ü`dVu ~±H$ DCC BANK‘hmamï´> amÁ` ghH$mar ~±H$ MSC BANKBVa OTHERS

51750

58432

WH$~mH$s % OVERDUES 5.63%

boIm n[ajU dJ© AUDIT CLASSIFICATION A

Am{W©H$ dfm©Vrb {Zìdi Z’$mNET PROFIT OF THE FINANCIAL YEAR

1,502

EHw$U godH$ TOTAL STAFF 369

IoiVm {ZYr WORKING FUNDS 1685.86



31.3.2015 ^mJ ^m§S>dc, O~m~Xmè`m d XoUr Capital & Liabilities 31.3.2016

50,00,00,000.00

40,64,49,450.00

82,48,29,109.9125,55,49,891.59

4,08,06,919.68

7,00,00,000.006,00,000.00

18,90,00,000.00

3,75,00,000.00

11,90,525.001,71,678.00

75,00,000.0010,54,69,000.00

4,30,00,000.0050,00,000.0037,21,109.64

1,05,00,000.0059,00,000.00

4,89,19,986.00-----

1308,64,90,927.741009,67,92,917.04

736,57,70,420.83167,70,16,096.00105,40,06,400.21

1. ^mJ ^m§S>dc Share Capital1 A{YH¥$V ^mJ ^m§S>dc

àËòH$s é. 50/- Mo 2,00,00,000 ^mJ

Authorised Share Capital 2,00,00,000 Shares of Rs.50/- each2 dgwc ^mJ ^m§S>dc

àËòH$s é. 50/- Mo 92,76,768 ^mJ

Paid Up Share Capital 92,76,768 Shares of Rs.50/- each

2. amIrd {ZYr Reserve Funds1 d¡Ym{ZH$ amIrd {ZYr Statutory Reserve Fund2 d¡Ym{ZH$ AmH$pñ_H$ {ZYr Statutory Reserve for unforeseen Loss (10%)3 B_maV {ZYr Building Fund4 cm^m§e g_mZrH$aU {ZYr Dividend Equalisation Fund5 1. ~w{S>V d g§e`rV H$O© {ZYr

Bad and Doubtful Debts Reserve 2. _mZH$ qOXJrdarc VaVyX

Provision for Standard Assets6 g^mgX H$ë`mU {ZYr Member Welfare Fund7 godH$ H$ë`mU {ZYr Sevak Welfare Fund8 àm¡ÚmoJrH$s {dH$mg {ZYr Technology Development Fund9 Jw§VdUyH$ MT>-CVma {ZYr Investment Fluctuation Reserve10 Jw§VdUyH$ Kgmam {ZYr Investment Depreciation Reserve11 gwdU© _hmoËgd {ZYr Golden Jubilee Fund12 gd©gmYmaU {ZYr General Reserve Fund13 AmH$pñ_H$ {ZYr Provision for contingencies14 {deof {ZYr (Am`H$a H$m`Xm, 1961 H$b_ 36(1)(viii)AÝdò) Special Reserve (u/s 36(1)(viii) of Income Tax Act 1961)15 B_maV nyZ©_yë`m§H$Z {ZYr Building Revaluation Reserve

3. ~mhoarc H$O} Borrowings

4. R>odr Deposits1 _wXV R>odr Term Depositsì`{º$JV IndividualsghH$mar g§ñWm Co-operativesAÝ` Others

29,14,34,510.265,43,50,596.68

7,00,00,000.006,00,000.00

22,00,00,000.00

4,35,00,000.00

12,80,000.001,77,793.00

3,75,00,000.0010,54,69,000.00

4,30,00,000.0050,00,000.0043,16,074.64

1,05,00,000.0059,00,000.00

4,64,73,988.00

1181,07,77,726.61817,95,69,982.40222,55,76,059.00140,56,31,685.21

1,00,00,00,000.00

46,38,38,400.00

93,95,01,962.58

-----

1506,94,86,245.10

1431,77,69,487.65 ~oarO nwT>rc nmZmda Total C/F 1647,28,26,607.68

{X {dœoœa ghH$mar ~±H$ {c., nwUo (_ëQ>rñQ>oQ> ~±H$){XZm§H$ 31-03-2016 amoOrMm Vmio~§X



31.3.2015 qOXJr, _mc_Îmm d `oUr Property & Assets 31.3.2016w

81,96,17,334.54

11,52,95,618.0070,43,21,716.5426,19,56,104.82

23,05,559.59

3,055.79

4,57,48,676.57

12,76,18,175.71

24,97,71,694.53

1,69,18,449.53

70,20,23,290.13

50,00,000.00

2,02,50,000.00

55,30,890.91

21,75,11,199.13

45,11,31,200.09

26,00,000.00

1. amoI d ~±H m§Vrc {e„H$

Cash and Balance with Banks1 amoI {e„H$ Cash on Hand2 AÝ` ~±H$m§Vrc Mmcy ImVr Current Account with Other Banks 1 [aPìh© ~±H$ Am°\$ B§{S>`m Reserve Bank of India2 {X _hmamï´> ñQ>oQ> H$mo-Am°n. ~±H$ {c., _w§~B©

The Maharashtra State Co-op. Bank Ltd., Mumbai3 H$Zm©Q>H$ amÁ` ghH$mar A°noŠg ~±H$, H$Zm©Q>H$

KSC Apex Bank, Karnataka 4 {Oëhm _Ü`. gh. ~±H$ {c., nwUo, gmocmnya d ~oiJm§d

Dist. Central Co-operative Bank Ltd., Pune, Solapur & Belgaum

5 ñQ>oQ> ~±H$ Am°\$ B§{S>`m d gh`moJr ~±H$m

State Bank of India & Subsidiary Banks 6 AÝ` amï´>r`H¥$V d ì`mnmar ~±H$m

Other Nationalised & Commercial Banks7 AÝ` ghH$mar ~±H$m Other Co-op. Banks

2. AÝ` ~±H$m§Vrc _wXV R>odr

Term Deposits with Other Banks1 {X _hmamï´> ñQ>oQ> H$mo-Am°n. ~±H$ {c., _w§~B©

The Maharashtra State Co-op. Bank Ltd., Mumbai

2 {Oëhm _Ü`. gh. ~±H$ {c., nwUo, gmocmnya, gmVmam d ~oiJm§d

Dist. Central Co-op. Bank Ltd., Pune, Solapur, Satara & Belgaum

3 ñQ>oQ> ~±H$ Am°\$ B§{S>`m d gh`moJr ~±H$m

State Bank of India & Subsidiary Banks

4 AÝ` amï´>r`H¥$V d ì`mnmar ~±H$m

Other Nationalised & Commercial Banks

5 AÝ` ghH$mar ~±H$m Other Co-op. Banks

6. g_memoYZ h_r {ZYr Settlement Guarantee Fund (CCIL)

8,72,97,126.0069,13,19,769.9930,90,16,064.82

11,28,293.59

3,026.79

2,29,02,555.57

15,06,74,857.64

19,99,27,882.74

76,67,088.84

50,00,000.00

5,16,51,027.09

50,54,474.04

24,63,81,938.52

80,27,43,685.42

26,00,000.00

77,86,16,895.99

111,34,31,125.07


THE VISHWESHWAR SAHAKARI BANK LTD., PUNE (Multi-State Bank)

BALANCE SHEET AS ON 31-03-2016




1431,77,69,487.65

202,14,43,833.22196,91,14,893.33

2,36,46,280.502,86,82,659.39

96,82,54,177.4850,69,60,778.18

4,23,38,179.1141,89,55,220.19

7,48,656.00

2,93,100.0014,97,10,506.03

1,37,09,546.60

16,58,27,884.86

3,68,35,142.12

74,05,203.6919,600.00

7,12,344.5011,24,67,625.55

~oarO _mJrc nmZmdéZTotal B/F 2 ~MV ~±H$ R>odr Savings Bank Deposits ì`{º$JV Individuals ghH$mar g§ñWm Co-operatives AÝ` Others 3 Mmcy R>odr Current Deposits ì`{º$JV Individuals ghH$mar g§ñWm Co-operatives AÝ` Others

5. dgwcrgmR>r {~co (Xw~oaOr)

Bills for Collection (contra)

6. emIm§VJ©V OwidUr Branch Adjustments7. EZ.nr.E. ImË`mdarc W{H$V `oUo ì`mO amIrd {ZYr (Xw~oaOr)

Overdue Interest Reserve for NPA accounts (contra)

8. R>odrdarc XoUo ì`mO VaVyX

Provision for Interest Payable on Deposits 9. BVa XoUr d VaVyXr

Other Liabilities & Provisions1 Xo` {~co d S´>mâQ>g²

Bills & Drafts Payable2 AZm_V XoUr Sundry Creditors3 OmXm àmá amoH$S> Cash Found in Excess4 Xo` gaMmO© Surcharge Payable5 BVa XoÊ`m§À`m VaVyXr (n[a{eï> Schedule 'A') Provisions for other liabilities

218,02,75,779.51211,59,32,282.67

2,97,89,777.48 3,45,53,719.36

107,84,32,738.9853,02,54,184.00

3,92,50,706.76 50,89,27,848.22

3,95,89,779.11

2,07,51,284.15 22,060.00 15,874.00

12,86,04,409.14

1647,28,26,607.68

4,25,957.00

2,381.0018,39,81,924.19

3,43,05,422.60

19,92,03,370.40

1464,80,59.181.14 ~oarO nwT>rc nmZmda Total C/F 1689,07,45,662.87




31.3.2015 qOXJr, _mc_Îmm d `oUr Property & Assets 31.3.2016

152,16,40,624.67

419,86,96,068.00 362,86,14,068.00

---28,99,03,000.00

1,79,000.00

28,00,00,000.00

852,70,38,002.19339,18,29,460.26

82,254.00

339,14,98,917.26

2,48,289.00

8,82,88,967.923,01,10,252.33

245,54,37,802.30

3,87,566.00

220,58,71,568.30

24,91,78,668.00

37,65,33,434.0826,78,03,463.40

~oarO _mJrc nmZmdéZ Total B/F 3. Jw§VdUyH$s Investments

1 H|$Ð d amÁ` gaH$mar amoIo

Central & State Government Securities Xe©Zr _yë` Face Value - 390,08,60,000 .00 ~mOma _yë` Market Value - 388,41,37,932.002 AÝ` {dœñV amoIo Other Trustee Securities3 gmd©O{ZH$ d AÝ` joÌmVrc Jw§wVdUyH$r

Investments in Public & Other Sectors4 ghH$mar g§ñWm§À`m ^mJ ^m§S>dcmVrc Jw§VdUyH$r

Investments in Shares of Co-operative Institutions (n[a{eï> Schedule 'B')5 _mJUr H$aVmM {_iUmè`m dm Aën Zmo{Q>erZo {_iUmè`m R>odr

Money at call and short notice4. H$O}$ Loans & Advances

1 Aën _wXV ( 15 _{hÝ`m§n`ªV)

Short Term (Upto 15 Months)1 gaH$mar d {dídñV amoIo VmaU

Government & Trustee Securities2 AÝ` Ñí` VmaU

Other Tangible Securities3 Om{_ZH$s Surety `mn¡H$s of which1 WH$~mH$s Overdues2 EZ.nr.E. H$O} NPA Advances

2 _Ü`_ _wXV (15 _{hÝ`m§nojm A{YH$ na§Vw 60 _{hÝ`m§n`ªV)

Medium Term (More than 15 Months but upto 60 months)

1 gaH$mar d {dídñV amoIo VmaU



397,85,44,050.00

---25,77,26,000.00

1,69,000.00

55,00,00,000.00

376,71,51,180.02

19,78,941.00

376,47,72,405.02

3,99,834.00

28,92,86,980.2315,92,62,706.20

272,48,67,928.31

7,17,462.00

224,48,57,963.03

47,92,92,503.28

18,59,93,482.2913,15,79,955.55

189,20,48,021.06

478,64,39,050.00

975,32,84,592.04







1464,80,59,181.14

4,10,179.006,04,544.005,16,804.00

---

68,56,442.00

21,17,450.00

13,54,36,772.67

3,36,36,283.62

~oarO _mJrc nmZmdéZ Total B/F 6 XoUo cm^m§e Dividend Payable 2011-2012 2012-2013 2013-2014 2014-2015

7 H$Om©darc Xo` [a~oQ>

Rebate Payable on Loans & Advances

10. H$boŠeZ ImVo {ZnmUr A~©Z gm¡hmX© ghH$mar ~±H$ {Z`{_V, {ZnmUr

Collection A/c Nipani Urban Souharda Sah. Bank Niyamit, Nipani

11. Z\$m Profi t

12. h_rnmoQ>r g§^mì` Xo`Vm

Constituent's Liabilities1) Letter of Credits 15,00,000.002) Bank Guarantees 2,98,52,371.003) Depositor Education & Awareness Fund 92,27,752.31

--5,95,058.004,99,800.006,25,830.00

84,99,276.00

4,05,80,123.31

1689,07,45,662.87

21,17,450.00

15,01,87,594.02

1478,56,13,403.81 EHy$U Total 1704,30,50,706.89


As per our Report of even dateM/s. Gogate and CompanyChartered AccontantsFRN 124144 W

Dr. Chintamani G. VaijapurkarChief Executive Offi cer

Anil B. Gadve Chairman

Amol A. Maniyar Vice - Chairman

CA U. V. GogatePartner (M. No. 109574)Date : 21/04/2016Place : Pune



31.3.2015 qOXJr, _mc_Îmm d òUr Property & Assets 31.3.2016

1424,73,74,694.86267,97,70,739.63

4,63,045.88

265,99,90,201.75

1,93,17,492.00

6,34,83,260.6710,31,78,483.50

7,48,656.00

--7,01,48,990.04

14,97,10,506.03

19,51,89,343.72

12,24,41,213.16

3,36,36,283.62

~oarO _mJrc nmZmdéZ Total B/F3 XrK© _wXV (60 _{hÝ`m§nojm A{YH$)

Long Term (More than 60 Months)1 gaH$mar d {dœñV amoIo VmaU



5. dgwcrgmR>r {~co (Xw~oaOr)

Bills for Collection (Contra)6. emIm§VJ©V OwidUr Branch Adjustments7. Jw§VdUwH$sdarc òUo ì`mO

Interest Receivable on Investments8. H$Om©darc WH$sV òUo ì`mO (Xw~oaOr)

Overdue Interest Receivable (contra)9. ñWmda _mb_Îmm (n[a{eï> Schedule 'C')

Fixed Assets10. AÝ` òUr Other Assets (n[a{eï> Schedule 'D')

11. h_rnmoQ>r g§^mì` Xo`Vm Constituent’s Liabilities

1) Letter of Credits 15,00,000.002) Bank Guarantees 2,98,52,371.003) Depositor Education & Awareness Fund 92,27,752.31

326,12,65,483.71

4,17,794.88

300,80,56,046.83

25,27,91,642.00

7,42,25,403.056,77,76,434.50

4,05,80,123.31

1643,17,71,663.10

4,25,957.00

--7,99,92,214.89

18,39,81,924.19

21,09,73,754.75

13,59,05,192.96

1478,56,13,403.81 EHy$U Total C/F 1704,30,50,706.89



Mrs. Kalpana S. Ganjiwale Mrs. Simantini K. Todakar

Ratnakar M. Deole (Expert Director) Manoj V. Sakhare (Expert Director)

Nandkumar V. Honrao Govind F. KamtheRajendra R. Mirje

Suniel N. Rukari Bapusaheb N. Dhankwade Sharad G. Hapse

Directors



31.3.2015 IM© EXPENDITURE 31.3.2016

97,63,61,751.2797,63,61,115.27

636.001,37,327.001,36,993.00

334.0014,55,71,417.00

18,11,420.79

14,26,637.79

4,50,66,423.12

2,08,90,346.0021,42,125.5092,38,382.00

1,25,89,949.672,05,619.95

65,84,880.32

82,46,642.50

20,75,886.001,80,517.00

3,30,38,996.55

75,04,608.00

1. {Xcoco ì`mO Interest Paid 1 R>odrdarc ì`mO Interest on Deposits2 ~mhoarc H$Om©darc ì`mO Interest on Borrowings

2. {Xcoco H${_eZ Commission Paid {n½_r EO§Q>Zm {Xbobo H${_eZ Paid to Pigmy collection Agent ~±H$m§Zm {Xbbo H${_eZ Commission Paid To Banks

3. doVZ, ^Îmo d godH$ IM©

Salary, Allowances & Staff Expenses4. g§MmcH$ _§S>i g^m ^Îmo d g§MmcH$m§Mm dmhZ B. IM©

Board Meeting Allowances & Director’s Conveyance etc.

5. àdmg IM© Traveling Expenses

6. ^mS>o, H$a, drO ,{d_m d B§YZ IM©

Rent, Taxes, Electricity Insurance & fuel Expenses1 ^mS>o Rent >2 H$a Taxes3 drO Electricity4 {d_m Insurance5 OZgoQ> B§YZ Genset fuel

7. nmoñQ>oO, Q>o{c\$moZ d Hw$[aAa

Postage, Telephone & Courier8. _wÐU, coIZgm_J«r d Om{hamV

Printing, Stationery & Advertisements9. Am°S>rQ> \$s Audit Fees10. H$moQ>© d H$O© dgwcr Court & Loan Recovery11. Kgmam, XwéñVr d XoI^mc

Depreciation, Repairs & Maintenance12. Jw§VdUyH$sdarc [ZañV A{Y_yë`

Amortised Premium on Investments

109,61,02,380.861,81,782.13

3,20,809.002,12,196.75

2,21,04,659.0023,05,273.90

1,06,15,497.001,39,70,479.20

2,09,519.00

109,62,84,162.99

5,33,005.75

16,52,96,432.50

18,72,364.78

13,36,413.65

4,92,05,428.10

69,45,655.41

86,19,251.56

26,43,600.001,19,756.00

5,38,16,755.78

78,44,608.00


{X {dœoœa ghH$mar ~±H$ {c., nwUo (_ëQ>rñQ>oQ> ~±H$){XZm§H$ 31.3.2016 AIoaÀ`m dfm©Mo Z\$m-VmoQ>m nÌH$



31.3.2015 CËnÞ INCOME 31.3.2016

141,37,34,335.96101,79,56,282.47

39,57,78,053.4921,400.50

54,88,531.875,93,56,140.01

180.0050,47,905.70

8,01,148.133,36,71,160.871,90,16,409.95

34,245.00

7,85,090.36

50,000,000.00

23,18,100.00

14,07,400.00

1. àmá ì`mO Interest Received1 H$Om©darc On Loans & Advances2 Jw§VdUyH$sdarc On Investments

2. àmá cm^m§e Dividend Received Dividend received on Shares

3. àmá H${_eZ Commission received4. AÝ` CËnÞ Other Income

1 ^mJ dJ© ewëH$ Share Transfer Fees2 cm°H$a ^mS>o Locker Rent3 H$O© AO© {dH«$s Sale of Loan Forms4 godm d AÝ` à^ma Service & Other Charges5 amoIo {dH«$sdarc Z\$m Profi t on sale of Securities6 ~±qH$J d Zm°Z ~±qH$J {O§XJrÀ`m {dH«$sdarc Z\$m

Profi t on sale of Banking & Non Banking Assets7 AÝ` CËnÞ Miscellaneous Income

5. OmXm VaVyX naVmdm Excess Written Back

6. {S>\$S>© Q>°Šg Deferred Tax

7. Am`H$amdarb ì`mO naVmdm Int. received on IT refund

119,18,85,525.3742,36,59,827.97

100.0053,58,782.25

7,42,099.973,55,30,763.641,49,11,438.00

-

47,07,316.83

161,55,45,353.34

26,770.00

50,25,479.226,12,50,500.69

2,74,38,329.00

12,28,000.00

--



PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.3.2016



31.3.2015 IM© EXPENDITURE 31.3.2016

122,80,06,507.3417,17,750.00

4,07,504.00

1,08,38,224.00

3,17,55,111.3312,41,64,039.00

5,90,00,000.00

45,00,000.00

6,05,00,000.001,64,039.00

13,54,36,772.67

~oarO _mJrc nmZmdéZ B/F13. amoIo {dH«$sdarc VmoQ>m

Loss on sale of securities14. ~±qH$J d Zm°Z ~±qH$J qOXJrÀ`m {dH«$sdarc VmoQ>m

Loss on sale of Banking & Non Banking Assets15. EbAm`gr aOmZJXrH$aU J«wn `moOZoA§VJ©V A§eXmZ

Contribution for Group Leave Encashment Scheme of LIC16. AÝ` IM© Other Expenses17. VaVyXr d g§^mì` XoUr Provisions & Contingencies

A. ~wS>rV d g§e`rV H$O© amIrd {ZYr (EZ.nr.E.) VaVyX

Provision for B D D R (N P A)B. _mZH$ qOXJrdarc VaVyX

Provision for Standard AssetsC. Am`H$a VaVyXr Income Tax ProvisionD. AÝ` VaVyXr Other Provision

18. {Zìdi Z\$m Net Profi t

3,10,00,000.00

60,00,000.00

7,25,00,000.00---

139,45,17,434.5240,17,500.00

1,34,483.75

94,30,491.00

4,27,26,928.9610,95,00,000.00

15,01,87,594.02

153,23,25,908.34 EHy$U Total 171,05,14,432.25

{X {dœoœa ghH$mar ~±H$ {c., nwUo (_ëQ>rñQ>oQ> ~±H$){XZm§H$ 31.3.2016 AIoaÀ`m dfm©Mo Z\$m-VmoQ>m nÌH$

As per our Report of even dateM/s. Gogate and CompanyChartered AccontantsFRN 124144 W

CA U. V. GogatePartner (M. No. 109574)Date : 21/04/2016Place : Pune


Anil B. Gadve Chairman

Amol A. Maniyar Vice - Chairman



31.3.2015 CËnÞ INCOME 31.3.2016

153,23,25,908.34 ~oarO _mJrc nmZmdéZ B/F 171,05,14,432.25

153,23,25,908.34 EHy$U Total 171,05,14,432.25


PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.3.2016

Mrs. Kalpana S. Ganjiwale Mrs. Simantini K. Todakar

Ratnakar M. Deole (Expert Director) Manoj V. Sakhare (Expert Director)

Nandkumar V. Honrao Govind F. KamtheRajendra R. Mirje

Suniel N. Rukari Bapusaheb N. Dhankwade Sharad G. Hapse

Directors



Schedule A Provision for Other Liabilities

Sr.No. Particulars Amount In <1 Bonus / Ex-gratia Payable 5,26,826.00 2 Electricity Bills Payable 7,92,260.00 3 Income Tax Provision 7,25,00,000.00 4 Internal Audit Fees Payable 22,500.00 5 Misc. Payable 2,51,616.14 6 NHB Subsidy Payable 1,0,83,900.00 7 Provision for Advt. Expenses 4,66,500.00 8 Provision for Courier Expenses 7,000.00 9 Provision for other Assets 12,93,752.00

10 Provision for Other Expenses 6,16,936.00 11 Rent/Municipal Taxes Payable 94,000.00 12 Retention Money Payable 8,72,126.00 13 Service Charges Payable 22,201.00 14 Service Tax Payable 77,988.00 15 SIDBI Subsidy Payable 4,87,33,841.00 16 Statutory Audit Fees Payable 10,80,000.00 17 Swachha Bharat Cess Payable 2,803.00 18 Telephone Bills Payable 1,60,160.00

Total 12,86,04,409.14

Schedule B Investments in Shares of Co-operative Institutions

Sr. No Particulars Amount in <1 The Maharashtra State Co-op Bank Ltd. Mumbai 13,000.00 2 Pune District Central Co-operative Bank Ltd. Pune 1,50,000.00 3 The Cotton Spinning Mills Belgaon 5,000.00 4 Satyapuram Housing Society, Fursungi 1,000.00

Total 1,69,000.00



Sche

dule

C

(Am

ount

in A

ctua

ls)

ASSE

T DE

SCRI

PTIO

N

GROS

S BL

OCK

DEPR

ECIA

TION

NET B

LOCK

“Ope

ning

Balan

ce”

Addit

ionSa

le/

Tran

sfer/

Writ

e off/

Ot

her

Adjus

tmen

ts

Clos

ing

Balan

ceUp

to"F

or

the y

ear

ende

d 31

/03/20

16"

“Sale

/ Tra

nsfer

/Wr

ite of

f/ Ot

her

Adjus

tmen

ts”

Up to

WDV

as on

WDV

as on

"Cos

t As o

n 31

/03/20

15"

"Befo

re

01/10

/2015

""A

fter

01/10

/2015

""C

ost A

s on

31/03

/2016

"3/3

1/201

53/3

1/201

63/3

1/201

53/3

1/201

6

Land

&

Build

ing 14

7,798

,597.5

8 -

- -

147,7

98,59

7.58

26,79

9,084

.90

9,65

3,952

.00

- 36

,453,0

36.90

12

0,999

,512.6

8 11

1,345

,560.6

8

Vehic

les 6,

554,3

68.00

-

63,42

3.00

- 6,

617,7

91.00

3,

464,2

51.00

1,

225,1

81.00

-

4,68

9,432

.00

3,09

0,117

.00

1,92

8,359

.00

SDV

& Lo

cker

s 18

,012,8

54.48

1,

111,1

69.00

11

9,389

.00

- 19

,243,4

12.48

7,

672,9

84.72

1,

151,0

87.00

-

8,82

4,071

.72

10,33

9,869

.76

10,41

9,340

.76

Furn

iture

&

fi xtu

re 48

,615,1

69.06

6,

292,9

03.00

38

4,112

.00

623,2

21.25

54

,668,9

62.81

25

,457,1

17.98

5,

424,3

94.00

52

1,170

.50

30,36

0,341

.48

23,15

8,051

.08

24,30

8,621

.33

Ele.

Fittin

g, Ge

nsets

, UPS

33,25

9,527

.03

2,14

4,966

.00

302,0

83.00

13

2,956

.50

35,57

3,619

.53

20,04

2,282

.89

5,28

4,251

.00

123,7

94.00

25

,202,7

39.89

13

,217,2

44.14

10

,370,8

79.64

Comp

uter

H/

W &

S/W

74,94

8,341

.14

49,14

8,374

.63

1,11

3,633

.00

18,50

0.00

125,1

91,84

8.77

65,38

1,122

.28

22,06

7,567

.00

9,24

9.00

87,43

9,440

.28

9,56

7,218

.86

37,75

2,408

.49

“Oth

er O

ffi ce

Ma

ch. &

Eq

uipme

nts”

18,64

1,141

.47

931,9

55.00

3,

479,9

35.00

24

4,695

.00

22,80

8,336

.47

11,92

1,966

.16

3,65

7,592

.00

223,6

72.50

15

,355,8

85.66

6,

719,1

75.31

7,

452,4

50.81

Reno

vatio

n &

Reco

nstru

ction

21,63

2,070

.91

2,69

3,566

.15

196,0

60.00

17

4,544

.00

24,34

7,153

.06

13,53

3,916

.02

3,59

1,646

.00

174,5

43.00

16

,951,0

19.02

8,

098,1

54.89

7,

396,1

34.04

Total

369,4

62,06

9.67

62,32

2,933

.78

5,65

8,635

.00

1,19

3,916

.75

436,2

49,72

1.70

174,2

72,72

5.95

52,05

5,670

.00

1,05

2,429

.00

225,2

75,96

6.95

195,1

89,34

3.72

210,9

73,75

4.75



Schedule D Other AssetsSr.No. Other Assets-schedule D Rs.

1 Advance Income Tax 7,25,00,000.002 Deposit for Rental/Leased Premises 78,83,320.003 Differed Tax Asset - DTA(Net) 54,05,100.004 Difference in Clearing Receivable 38,295.005 Festival Advance 2,41,000.006 Income Tax Refund Receivable(HO) 4,12,65,539.007 Misc. Receivable 35,60,717.128 Prepaid Insurance 2,90,000.009 Prepaid Other Expenses 23,15,854.84

10 Stamps on Hand 59,177.0011 Stationery on Hand 20,89,024.0012 TDS Receivable - Others 2,57,166.00

TOTAL 13,59,05,192.96

{dœoœa ~±Ho$À¶m gd© g^mgX / J«mhH$m§gmR>r gyMZm

~±Ho$bm "Amnë¶m J«mhH$m§Zm OmUyZ ¿¶m' (K.Y.C.) À¶m ‘mJ©Xe©H$ àUmbtÀ¶m g§X^m©V Amnë¶m {dÚ‘mZ J«mhH$m§Mr ‘m{hVr AÚ¶kmdV H$ê$Z {àìh|eZ Am°’$ ‘Zr bm±S´>tJ A°³Q> Am{U ^maVr¶ [aPìh© ~±Ho$À¶m gyMZm§Mo nmbZ H$aUo Amdí¶H$ Agë¶mZo nwT>rbà‘mUo H$mJXnÌo gmXa H$ê$Z ~±Ho$g ghH$m¶© H$amdo, hr {dZ§Vr.

1. Amnbo A{bH$S>À¶m H$mimVrb nmgnmoQ>© gmB©OMo 2 ’$moQ>mo.2. AmoiIrMm nwamdm (CXm. n°Z H$mS>©, S´>m¶pìh¨J bm¶gÝg, AmYma H$mS>© B.)3. {Zdmgr nÎ¶mMm nwamdm (bmB©Q> {~b, Q>o{b’$moZ {~b, nmgnmoQ>© B.)4. d¡¶{º$H$ ImVoXmam§{edm¶ g§ñWm, ghH$mar g§ñWm, ^mJrXmar g§ñWm, H§$nZr Q´>ñQ> d BVa ImVoXmam§Zr Oo bmJy

Agob Ë¶mà‘mUo H$mJXnÌm§Mm àVr.

< 2500 H$moQ>tÀ¶m ì¶dgm¶mH$S>o dmQ>Mmb H$aUmar Amnbr {dœoœa ~±H$

g^mgX/ImVoXmam§gmR>r {deof gyMZm : Am¶H$a H$m¶ÚmVrb VaVyXrZygma g^mgXm§À¶m d ImVoXmam§À¶m ~±Ho$H$S>rb gd© emIm§‘Yrb EH${ÌV

EHy$U R>odtdarb (háo~§X R>odrgh) dm{f©H$ ì¶mO é. 10,000 d Ë¶mnojm A{YH$ Agë¶mg ~±Ho$g

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VISHWESHWAR SAHAKARI BANK LTD.; PUNECASH FLOW STATEMENT FOR THE PERIOD ENDED 31st MARCH 2016

Rs in LacsPARTICULARS 2015-16 2014-15

CASH FLOW FROM OPERATING ACTIVITIESNet Profi t as per Profi t & Loss A/cADD: -DepreciationPremium AmortisationLoss on sale of securitiesLoss on sale of banking &non banking assetsBDDRStandard Asset provisionInvestment Depreciation ReserveSpecial Reserve (For Income Tax Purpose)Other ProvisionDeferred TaxProv for Group Leave EncashmentDeferred Gratutity PremiumShort Prov of I.tax of Earlier Year

LESS: -Excess Provisions write back

Excess Provision of I.TaxProfi t on sale of SecuritiesProfi t on sale of Banking &non banking assetsDeferred Tax CASH FLOW FROM OPERATIVE ACTIVITIES BEFORE CHANGE IN WORKING CAPITALIncrease in DepositsIncrease /Decrease in Other LiabilitiesIncrease in Loans & AdvancesIncrease/Decrease in InvestmentsIncrease in Other AssetsNet increase in reservesEx Gratia PaymentEducation Fund

NET CASH FLOW FROM OPERATING ACTIVITIES

CASH FLOW FROM INVESTING ACTIVITIESPurchase of Fixed AssetsSale of Fixed Assets

CASH FLOW FROM FINANCING ACTIVITIESIncrease in Share CapitalDividend Paid

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENT CASH AND CASH EQUIVALENT AT THE BEGINNING OF THE YEARCash in HandCash at bankFD's with Bank CASH AND CASH EQUIVALENT AT THE END OF THE YEARCash in HandCash at bankFD's with Bank

496.10 78.45 40.18 1.34 310.00 60.00 - -

- - - -

-

- - (149.11)

- (12.28)

19,829.95 541.25 (12,262.47)

(5,846.95) (220.79)

12.45 (116.00) (13.54)

1,501.88

986.07

(161.39)

2,326.56

1,923.90

(679.82) 0.07

573.89 (440.53)

1,152.96 7,043.22 6,994.23

872.976,913.20

11,108.31

4,250.46

(679.75)

133.36

3,704.07

15,190.41

18,894.48

288.41 75.05 17.18 4.07 590.00 45.00 - - 1.64 - - -

-

(500.00)

- (190.16) (0.34) (23.18)

14,291.58 525.75 (11,063.58) 2,985.64 (176.15) 0.94 (101.00) (10.60)

1,354.37

1,021.35

(713.68)

1,662.04

6,452.58

(347.58) 2.04

636.41 (374.60)

1,109.26 3,730.29 2,319.97

1,152.96 7,043.22 6,994.23

8,114.62

(345.54)

261.81

8,030.89

7,159.52

15,190.41

For M/s. Gogate and CompanyChartered AccountantsFRN 124144 WCA U. V. GogatePartner (M. No. 109574)

For The Vishweshwar Sahakari Bank Ltd., Pune




I. SIGNIFICANT ACCOUNTING POLICIES:

1. Accounting Convention : The fi nancial statements of the Bank have been

prepared in accordance with the generally accepted accounting principles in India. The Bank has prepared these fi nancial statements to comply in all material respects with the accounting standards issued by the Institute of Chartered Accountants of India (ICAI), to the extent applicable, and applicable statutory provisions under the Banking Regulation Act, 1949 & Multi State Cooperative Societies Act, 2002.The fi nancial statements have been prepared following the going concern concept on an accrual basis under the historical cost convention, which is carried at revalued amount. The accounting policies adopted in the current year are consistent with those of previous year, except of change in accounting policy as explained in notes forming part of Accounts.

2. Use Of Estimates : The presentation of fi nancial statements,

are in conformity with generally accepted accounting principles, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and disclosure of contingent liabilities at the end of the reporting period. Although these estimates are based on management's best knowledge of current event and actions, uncertainty about these assumptions and estimates could result in outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in the future periods.

3. Investments : 3.1. Investments other than in those held in Term

Deposits with Banks / Institutions / Mutual Fund and shares of Co-op Institutions are classifi ed into “Held For Trading” (HFT), “Available for Sale” (AFS), and “Held To Maturity” (HTM) categories in accordance with Reserve Bank of India (RBI) guidelines on Classifi cation and Valuation of investments for Primary (Urban) Co-operative Banks.

3.2. Investments under Held to Maturity category are carried at Book Value. The premium paid, if any, on the investments under this category is amortized over the residual life of the security.

3.3. Investments under Available for Sale category are valued scrip-wise at lower of Cost or Market Value. Net depreciation, if any under each classifi cation has been provided for, net appreciation, if any, has been ignored.

3.4. The Bank is holding investments under Held for trading category which are being traded within 90 days from date of its classifi cation under this head. Investments under this category are valued scrip wise at lower of cost or market value.

3.5. Market Value, where market quotes are not available, is determined on the basis of the “Yield to Maturity” (YTM) method as indicated by Primary Dealers Association of India (PDAI) jointly with the Fixed Income and Money Market Derivatives Association of India. Appreciation / Depreciation are aggregated for each class of securities and net depreciation in aggregate for each category as per RBI guidelines is charged to Profi t and Loss Account. Net appreciation, if any, is ignored.

4. Advances: 4.1. The classifi cation of advances into Standard,

Sub-standard, Doubtful and Loss assets as well as provisioning on Standard Advances and Non-Performing Advances has been arrived at in accordance with the Income Recognition, Assets Classifi cation and Provisioning Norms prescribed by the Reserve Bank of India from time to time till date.

4.2. The unrealized interest in respect of advances classifi ed as Non-Performing Assets is disclosed as “Overdue Interest Reserve” as per Reserve Bank of India directives.

Notes forming part of the Balance Sheet as at 31st March 2016 and Profi t and Loss Account for the year ended 31st March, 2016



5. Fixed Assets And Depreciation: 5.1. Premises, SDV Lockers, Electrical Fittings are

depreciated on Written down Value method. 5.2. Computers & peripherals are depreciated on

Straight Line method as directed by RBI. 5.3. Renovation and reconstruction is depreciated

on Straight Line method 5.4 Vehicles, Furniture Fixtures, Other offi ce

machinery & equipment are depreciated on Straight Line method.

5.5 Depreciation on assets acquired prior to 1st October is provided for the whole year, otherwise the same are depreciated at 50% of the normal rates.

5.6 Buildings are revalued during the year 2011-12 from two government approved valuer. The revaluation is disclosed as revaluation reserve.

5.7 The rates of Depreciation are charged at following rates

The methods and rates of deprecation as are below.

Sr. No. Assets Rates Dep. %

1 Land & Building 102 Vehicles 203 SDV Cockers 104 Furniture & Fixture 105 Electrical Fitting 256 Computer H/w & S/W 33.337 Other Offi ce Mach. & Equip. 208 Renovation & Reconstruction 20

6. Revenue Recognition : 6.1 Income is accounted on accrual basis.

However, income on Non-Performing Assets is recognized on realization, as per Reserve Bank of India directives.

6.2 Bank has accounted Commission on Letters of Credit / Bank Guarantees, locker rent on receipt basis. Erstwhile, the bank was recognizing the income on LC/BG and locker rent on accrual basis.

6.3 Dividend received from shares of co operative institutions is accounted on receipt basis.

7. Employee Benefi ts :

7.1 Payment of Provident Fund is made to the Commissioner for Provident Fund at rates prescribed in the Employees Provident Fund and Misc. Provisions Act, 1952 and is accounted for on accrual basis.

7.2 Bank has provided for leave encashment on accrual basis as per actuarial valuation given by third party Actuary as on 31.3.2016

7.3 Bank has taken group gratuity policy from LIC of India and is maintaining fund under trust deed with LIC of India for gratuity payments to employees. The premium / contribution paid to LIC to meet gratuity liability is debited to Profi t & Loss A/c.

7.4 Ex-Gratia for the current year is appropriated from net profi t as per the provisions of Multi - state co op societies Act 2002.

8. Taxes on Income: 8.1 Provision for Current Tax is made on the

basis of estimated taxable income for the year in accordance with the provisions of Income Tax Act, 1961, and rules framed there under.

8.2 Deferred Tax: Deferred tax is calculated at the rate of 30%

and is recognized on timing differences that originate in one period and are capable of reversal in one or more subsequent periods. Deferred Tax Asset is recognized only to the extent that there is reasonable certainty that the assets would be realized in future.

9. Provisions, contingent liabilities and contingent assets :

A provision is recognised when the Bank has a present obligation as a result of past event where it is probable that an outfl ow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to refl ect the current best estimates.

A disclosure of contingent liability is made when there is:



a) A possible obligation arising from a past event, the existence of which will be confi rmed by occurrence or nonoccurrence of one or more uncertain future events not within the control of the Bank; or

b) A present obligation arising from a past event which is not recognized as it is not probable that an outfl ow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

When there is a possible or a present obligation in respect of which the likelihood of outfl ow of resources is remote, no provision or disclosure is made.

Contingent assets are not recognized in the fi nancial statements. However, contingent assets are assessed continually.

10. Segment Reporting : In accordance with the guidelines issued by

RBI, Segment Reporting is made as under: i. Treasury includes all investment portfolio,

profi t/loss on sale of investments. The expenses of this segment consist of interest expenses on funds borrowed from external sources as well as internal sources and depreciation/amortization of premium on Held to Maturity category investments.

ii. Other Banking Operations include all other operations not covered under Treasury operations.

11. Lease Payments Operating lease payments are recognized as

an expense in the Profi t & Loss account.

12. Deposit for Services : The Deposit for Services like Telephone,

Telex, Electricity, etc. paid to the concerned authorities are charged to Profi t & Loss A/c.

13. Change in Accounting Policy From the year 2015-16, Bank has decided to

debit the insurance premium on properties and vehicle to the debit of Profi t/Loss Account in the year of payment instead of accounting on time basis. Therefore the profi t for the year 2015-16 was understated by Rs. 1.43 lacs due to change in policy. The Bank has also changed the method and rates of depreciation on land and building, vehhicles, furniture, fi xture & other offi ce machinery. Therefore the profi t for 2015-16 was understated by Rs. 64.44 lacs dure to change in policy.

II. NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED MARCH 31, 2016

1. Investments: a. During the year, Bank has sold securities

held under AFS category. The profi t of Rs. 1,49,11,438/- and loss Rs. 40,17,500/- on the sale has been credited / Debited respectively to Profi t & Loss A/c in accordance with RBI guidelines.

b. Fixed Deposits with other Banks include deposits aggregating to Rs. 2105.22 lakh lodged as margin money to secure overdraft limits / issuance of guarantees in respect of correspondent business.

2. Fixed Assets & Depreciation: AS 6 & AS 10 a. The Bank has accounted and made disclosure

of gross and net block of fi xed assets and depreciation in accordance with AS-6 and AS-10 issued by ICAI.

b. Depreciation of Rs 24.46 lakh on account of revaluation of ownership premises has been provided during the year and an equivalent amount is debited to Revaluation Reserve.

3. Prior Period Items: AS- 5 a. Bank has paid ex gratia of Rs 118.23 lakh for

the year 2014-15 in current year. Provision for the same was made in the year 2014-15.

b. Interest income on NPA accounts of Rs. 342.76 Lacs of earlier years recognized as income in current year i.e. 2015-16 as per RBI guidelines.

c. Bank has paid Income tax of Rs.82.37 lacs for the year 2014-15 during year 2015-16 as self assessment tax.

4. Merger of Other Co-op Bank - AS-14 a. The Bank has acquired The Nipani Urban

Souharda Sahakari Bank Niyamit, Nipani and merged the same in accordance with orders and directions issued by the Reserve Bank of India dated 27.12.2010 & RCS, Karnataka Order dated 15.9.2010.

b. Bank has disclosed collection A/c (Amount payable to shareholder of erstwhile The Nipani Urban Souharda Sahakari Bank Niyamit, Nipani) of Rs. 21,17,450/- under current liabilities as per Merger Order dt 15.09.2010 & MOU dated 29/06/2010.



(Rs.in Lacs)Sr No. Particulars Gratuity Leave Encashment

Sr No. Particulars Gratuity Leave Encashment

i) Discount Rate 8.10% 8.10%

ii) Expected Return on Plan Assets 8.50% 8.50%

iii) Changes in present value of obligations (PVO)PVO at the beginningInterest CostCurrent Service CostBenefi ts paidActuarial (gain)/loss on obligationsPVO at the End

449.3234.2837.34

(19.73)(4.73)

496.48

296.7920.7532.81

(61.48)63.34

352.21iv) Changes in fair value of Plan Assets (FVPA)

FVPA at the beginningExpected Return on Plan AssetsContributionsBenefi ts PaidActuarial gain/(loss) on plan assetsFVPA at the end

531.8845.0415.76

(19.73)1.91

574.86

307.3227.5394.54

(61.48)(1.63)

366.28v) Amount recognised in Balance Sheet

Present Value of obligationsFair Value of Plan AssetsAssets/(Liability)

496.48574.86

78.38

352.21366.28

14.08vi) Expenses recognised in profi t and loss account

Current Service CostInterest CostExpected Return on Plan AssetsNet Actuarial gain/(loss)

37.3434.28

(45.04)(6.64)

32.8120.75

(27.53)64.97

5. Employee Benefi ts – AS - 15 (Revised): a. Bank has contributed Rs. 8223396/- (P.Y. Rs.

6215578/-) towards Provident Fund.

b. Bank has opted Group Gratuity scheme & Group Leave Encashment scheme of LIC of India to comply with AS 15. Bank pays premium of these schemes as conveyed by LIC.

c. In the current year, Rs. 9454343/- towards Group Leave Encashment, Rs. 1575904/- towards Group Gratuity Scheme are debited to profi t and loss account related to the

current year.

d. On the basis of actuarial valuation conveyed by Mr. T Bhargava (Fellow –Institute of Actuaries of India) as of 31.3.2016, no provision is required towards group leave encashment scheme and group gratuity scheme.

e. Actuarial Assessment of Gratuity fund and leave encashment as on 31/3/2016 is as under.



6. Segment Reporting- AS 17Primary Segment Reporting (By Business Segments) as at March 31, 2016 (Amount Rs. in Lacs)

Particulars2014-16 2013-15

Treasury Operations

Other Banking Operation Total Treasury

OperationsOther Banking

Operation Total

Segment RevenueSegment CostSegment ResultLess:Unallocated ExpensesLess: - Deferred TaxNet Profi t Before TaxProvision for Income TaxNet Profi t Before AppropriationOTHER INFORMATIONSegment AssetsUnallocable AssetsTotal AssetsSegment LiabilitiesUnallocable LiabilitiesTotal Liabilities

4,385.984,239.82

146.16---

59,798.62-

59,798.6260,483.39

-60,483.39

12,706.8810,593.97

2,112.92---

97,532.82-

97,532.8295,522.90

-95,522.90

17,092.8614,833.79

2,259.0744.48

-12.282,226.87

725.001,501.87

157,331.4711,254.96

168,586.43156,006.29

12580.14168,586.43

4,148.164,040.70

107.45----

49,708.68-

49,708.6850,491.88

0.0050,491.88

11,151.929,284.311,867.61

----

85,270.38-

85,270.3884,655.79

0.0084,655.79

15,300.0813,325.02

1,975.0638.87

-23.181,959.37

605.001,354.37

134,979.0611,372.48

146,351.54135,147.68

11,203.87146,351.54

Since the Bank caters to the needs of Indian Customers, information regarding Secondary Segment (geographical) is not applicable.

7. Related Party Disclosures: AS 18 The Bank is a co-operative society under the

Multi-State Co-operative Societies Act,2002 and there are no Related Parties requiring a disclosure under Accounting Standard 18 issued by the Institute of Chartered Accountants of India other than Key Management Personnel Dr. Chintamani Gopal Vajiapurkar, the Chief Executive Offi cers of the Bank for 2015-16. However in terms of RBI circular dated March 29,2003, CEO being a single party coming under the category, no further details therein need to be disclosed.

8. Deferred Tax – AS 22 Bank has created deferred tax in a whole. In

this year, bank has created deferred tax up to 31.03.2016. Change in deferred tax i.e. current year deferred tax of Rs. 12.28 Lacs is adjusted in current year Profi t and Loss Account. The details are as follows: (Rs. In Lacs)

Sr.No. Particulars 31.03.16A Deferred Tax Asset1 Provision for Standard Assets 18.002 Difference in WDV (5.72)

Sub-Total (A) 12.28B Deferred Tax Asset as of 31.03.2015 41.77C Net Deferred Tax Asset (A-B) 54.05

Note: Deferred Tax Assets has been recognized

to the extent management is reasonably certain of its realization.

9. Computer Software (AS 26- Intangible fi xed assets):

The fi xed asset block for “Computers & peripherals” includes Computer Software. The details of which are as follows:

(Rs. In Lacs)Particulars 31.03.2016Gross Block Opening Balance 314.04Add: Additions during the year 77.08Less: Write off / Sale -Total Gross Block Closing Balance 391.12Amortization Opening Balance 278.36Add: Additions during the year 47.80Less: Write off / Sale -Total Amortization 326.16Net Closing Balance 64.96

Computer software is amortized @ 33.33% on straight line method as per the directives of RBI.

10. Impairment of Assets: AS 28 There is no material impairment of any of assets in

the opinion of the Bank and as such no provision under AS 28 issued by ICAI is required.



11. Provisions, Contingent Liabilities and Contingent Assets: AS 29

a. Contingent Liabilities on account of Bank Guarantees, Letters of Credit, DEAF are as follows:

Amt in Rs

Particulars 31.03.2016 31.03.2015Bank Guarantees

2,98,52,371.00 2,35,93,893.00

Letter of Credit 15,00,000.00 22,51,000.00Depositors Awareness Education Fund (DEAF)

92,27,752.31 77,91,390.62

Total 4,05,80,123.31 3,36,36,283.62

b. All guarantees are sanctioned to customers with approved credit limits in place. Liability thereon is dependent on terms of contractual obligations, devolvement, raising of demand by concerned parties and the amount being called up. These amounts are collateralized by margins, counter-guarantees and secured charges.

c. Suits fi led by the Ex-employees of The Vishweshwar Sahakari Bank Ltd & erstwhile The Nipani Urban Souharda Sahakari Bank Niyamit, Nipani against the Bank for claims of Rs. 35.73 lakhs are pending in various courts/authorities. The Bank has not accepted the claim and therefore has not made any provision against these claims.

12. Revaluation of Premises

Bank has not done any revaluation of its fi xed assets during the year 2015-16.

13. Income from other than Banking Business is as under

Income from other than Banking Business

31.03.2016 31.03.2015

Commission of Insurance 23.57 29.14Commission on Pan Card Services 0.39 0.54Commission on Tax Payment Services 2.06 2.16

14. Internal Audit

Concurrent audit of 12 big branches, Quarterly internal audit of 14 branches, HO & Investment audit at Head Offi ce is made by Chartered Accountants appointed by the bank. All such audits are completed up to 31-03-16 & bank has received all the reports. 1 branch was audited by Internal Audit Dept.

15. Penalties for disclosure

It is informed by the bank that, RBI has not imposed any penalty on the bank for any reason in the year 2015-16.

16. Supplier/Service providers covered under Micro, Small, Medium Enterprises Development Act 2006 have not furnished the information regarding fi ling of necessary memorandum with the appropriate authority. Therefore, information relating to cases of delays in payments to Micro and Small Enterprise or of interest payments due to delays in such payments, could not be given.

17. Previous year’s fi gures are regrouped or rearranged wherever necessary to conform to the presentation of the current year.

18. The amount remitted to RBI under Deposit Education and Awareness Fund (DEAF) are disclosed as under as per RBI circular DEAF Cell.BC.114/30.01.002/2013-14 dt 27.5.2014.

(Rs in lacs)

Particulars Current Year

2015-16

Previous Year

2014-15Opening balance of amount transferred to DEAF

77.91 -

Add :- Amounts transferred to DEAF during the year

20.51 77.91

Less :- Amount reimbursed by DEAF towards claims

(6.14) -

Closing balance of amounts transferred to DEAF

92.28 77.91



III DISCLOSURE AS PER RBI GUIDELINES (as per Circular dated UBD.CO.BPD(PCB) Cir. No. 52/12.05.001/2013-14 dtd. 25/03/2014) (Figures in % or Rs. in Lacs)

Sr. No. Particulars 31/03/2016 31/03/20151 Movement of CRAR

a Capital Tier 1b Capital Tier 2c Total of Tier 1 and Tier 2 Capitald Total Risk Weighted Assetse Capital to Risk Assets Ratio

10,174.041,741.98

11,916.0283,563.07

14.26%

8,730.101,754.83

10,484.9370,537.09

14.86%

2 Investmentsa Book Valueb Face Valuec Market Value

39,785.4439,008.6038,841.38

36,286.1435,258.6034,994.07

3 a Composition of Non SLR Investments Refer at end of the table b Non Performing Non SLR investments Refer at end of the table

4 Advances Againsta Real Estateb Construction businessc Housing

1,813.778,727.406,330.45

1,190.729,065.124,560.91

5 Advance against Shares & Debentures NIL NIL

6 Advances to Directors, Their relatives, companies fi rms in which they are interested:a Fund-basedi Outstanding at the beginning of the yearii Additions during the year*iii Recovery during the yeariv Outstanding at the end of the yearb Non-fund based (Guarantees, L/Cs etc.) *Amount pertains to loans sanctioned to Directors against Term Deposits & CEO against House property.

41.3940.7146.8435.26

0

54.5919.6332.8341.39

0

7 Average Cost of Deposits 8.08% 8.08%

8 NPAsa Gross NPAsb Net NPAs

3,586.191,386.19

4,010.922,120.92

9 Movement In NPAsI Gross NPAsa Opening Balanceb Additions during the yearc Less : Closed / Recovered / Written Offd Closing BalanceII Net NPAsa At the beginning of the yearb At the end of the year

4,010.92761.77

1,186.503,586.19

2,120.921,386.19

3,554.51913.25456.84

4,010.92

2,146.512,120.92

10 Profi tability :a Interest income as a percentage of avg working fundsb Non- Interest income as a percentage of avg working fundsc Operating profi t as a percentage of avg working fundsd Return on Assetse Business( Deposits + Advances) Per employeesf Profi t per employee

10.55%0.43%1.70%0.98%672.70

4.07

10.42%0.49%1.93%1.00%593.78

3.72



11 Provision made during the year towards:a Provision on NPAsb Depreciation in Investmentsc Standard Assets Provision

310.00-

60.00

590.00-

45.0012 Movement in Provisions :-

a Towards NPA (Bad and Doubtful Debt Reserve) Opening Balance Provisions during the year Less : Closed / Recovered / Written Back Closing Balanceb Towards Provision for Investment Depreciation Opening Balance Additions / Transfer during the year Closing Balancec Towards Contingent provision against Standard Assets Opening Balance Additions during the year Closing Balance

1,890.00310.00

-2,200.00

430.00-

430.00

375.0060.00

435.00

1,300.00590.00

-1,890.00

1,789.69

(1,359.69)430.00

330.0045.00

375.0013 a Foreign Currency Assets

b Foreign Currency LiabilitiesNILNIL

NILNIL

14 DICGC premium paid up to 31/3/2016 31/3/201515 Penalty imposed by RBI NIL NIL16 Restructured Accounts

As per table at the end44 NIL

Composition of Non SLR Investments Rs in lacsIssuer Amount Extent of below

investment grade Securities

Extent of Unrated

Securities

Extent of Unlisted

SecuritiesPSUs 373.61 - - - Fls 1,804.05 - - - Nationalized Banks 299.60 - - - Others 16,735.99 - 1.69 1.69 Provision Held towards Depreciation - - - - Total 19,213.25 - 1.69 1.69

Table B- Non Performing Non SLR Investments

Particulars Rs. in Lakhs

Opening Balance 0.15Additions during the year since 1st April 0.00Reductions during the above period 0.10Closing Balance 0.05Total Provision held 0.05



Disclosures regarding Restructured AdvancesRestructured Accounts during the year

(Rs. In lacs)

Particulars Rs. in LacsRestructured Accounts during FY 2015-16 Housing SME OTHERSStandard Advances Restructured No. of Borrowers - 10 -

Amount outstanding - 331.83 -Sacrifi ce - - -

Sub-standard Advances Restructured No. of Borrowers - - 34Amount outstanding - - 62.14Sacrifi ce - - -

Doubtful Advances Restructured No. of Borrowers - - -Amount outstanding - - -Sacrifi ce - - -

Total No. of borrowers - 10 34Total amount Outstanding - 331.83 62.14Sacrifi ce - - -

17 There were 3 Repo Transactions during the year CROMs – Reporting Platform18 CROMs – Reporting Platform

Rs. In Lacs

ParticularsMinimum outstanding

during the yearMaximum outstanding

during the yearDaily Average out

-standing during the yearOutstanding

As on 31st March2015-16 2014-15 2015-16 2014-15 2015-16 2014-15 2015-16 2014-15

Borrowing under CROMS 101.58 0 500.00 0 475.51 0 0 0

Lending under CROMS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Notes : The average has been worked out on the basis of the total no of days for which the transactions took place during the year.

19 Interest Rate Future (as per RBI Circular UBD (PCB) BPD Cir No.17/13.01.000/2009-10 October 28, 2009). The bank has not undertaken any transaction during the Financial Year 2015-16

For M/s. Gogate & Co For The Vishweshwar Sahakari Bank Ltd.,PuneChartered Accountants

CA U V Gogate Dr. Chintamani G. Vaijapurkar Partner Chief Executive Offi cerFRN-124144WM.No.109574

Date:- 21st April 2016Place:- Pune



Annual Progress of Bank(Rs. In Crore)

Sr.No. Particulars 31.03.2014 31.03.2015 31.03.2016

1 Shareholders 19110 20826 22213

2 Branches 23 26 27

3 Staff 325 364 369

4 Per Emp Business 5.87 5.94 6.73

5 Paid up share Capital 34.28 40.64 46.38

6 CRAR % 13.03 14.86 14.26

7 Dividend % 12.00 12.00 12.00*

8 Total Reserve Fund 75.70 82.62 93.95

9 Deposits 1,165.73 1,308.65 1,506.95

10 Loans 742.07 852.70 975.33

11 Priority Sector Advances 332.18 370.87 416.26

12 Weaker Sector Advances 43.59 48.39 57.12

13 Total Investments 472.21 490.07 589.99

14 Total working Funds 1,299.18 1,463.52 1,685.86

15 Gross profi ts 17.40 25.96 25.97

16 Net Profi t 10.60 13.54 15.02

17 Gross NPA % 4.79 4.70 3.68

18 Net NPA % 2.95 2.54 1.45

19 Audit Class A A A

(*Proposed)



Standard Business Parameters(Comparative)

Sr. No Particulars 2014 2015 20161 Int Income to Working Funds 9.53% 10.42% 10.55%2 Non Int Income to Working Funds 0.39% 0.49% 0.43%3 Yield on Advances & Investments 11.32% 11.32% 11.43%4 Cost of funds 7.78% 7.70% 7.70%5 % of spread 3.53% 3.62% 3.73%6 % of Management exps to Working cap 2.03% 2.02% 2.32%7 % of gross profi t to Working cap 1.34% 1.93% 1.70%8 % of net profi t to Working cap 0.82% 1% 1%9 Per emp gross profi t (Rs. In lakhs) 5.35 7.18 7.04

10 Total Business 1,908 2,161 2,48211 Credit Deposit Ratio 63.66% 65.16% 64.72%

Board Meeting’s attendance for the year 2015-16(Total Meetings 24)

Sr. No. Directors Name Total No.of Meeting1 Shri. Anil Bharatsheth Gadve 222 Shri. Amol Ashok Maniyar 233 Shri. SunielNamdeoraoRukari 164 Shri. BapusahebNarayanraoDhankawade 235 Shri. SharadGanpatraoHapse 206 Shri. Rajendra Ramesh Mirje 247 Shri. Nandkumar Vasantrao Honrao 248 Shri. GovindFakirraoKamthe 189 Late Shri. Ramchandra Laxman Jotkar 3

10 Sou. KalpanaSharadGanjiwale 2311 Sou. Simantini Kiran Todkar 2212 Shri. RatnakarMurlidharDeole 1613 Shri. ManojVasantSakhare 23

Sub-Committee Meetings Held in The Year 2015-16

Sr. No. Sub-Committee Total Meetings1 Loan Disbursement And Recovery Sub Committee 222 Management Sub Committee 123 Investment & Audit Sub Committee 12



THE VISHWESHWAR SAHAKARI BANK LTD., PUNE(Registered under Multi-State Co-op. Societies Act 2002)

Suggested amendment in bye-laws in Annual General Meeting 2015-2016

Bye-Laws

NumberExisting Bye-Laws Proposed Bye-Laws Reason for

Amendment

1 iv) The area of operation of the Bank shall extend to the entire territorial jurisdiction of State of Maharashtra and the entire *State of Karnataka.

The area of operation of the Bank shall extend to the entire territorial jurisdiction of State of Maharashtra, Karnataka and Goa

In order to expand the Business Opportunities.Goa is an adjoining State to Maharashtra

33 (ii) *On the Board of Directors 1 (one) seat shall be reserved for employee’s Representative. The seat so reserved shall be fi lled in by nomination made by the Union approved by the Board. If there is no union approved by the Board, the member representing such employees may be nominated by the Board. However, any em-ployee nominated as a member on the Board, shall not be entitled to be elected as Chairperson or Vice-Chairperson or to be entitled to vote at any election of Chair-person or Vice-Chairperson. Not-withstanding anything contained in these byelaws, the tenure of this employee representative shall be co-terminus with the ten-ure of the Board of Directors. In addition to elected directors, the Board of Directors may co-opt 2 directors amongst co-op-erators, Chartered Accountants, from banking fi eld etc. However, such co-opted directors shall not be entitled to be elected as Chair-person or Vice-Chairperson or be entitled to vote at any election of Chairperson or Vice-Chairper-son. Notwithstanding anything contained in these byelaws, the tenure of the co-opted directors shall be co-terminus with the ten-ure of the Board of Directors.

To be deleted

In addition to elected directors, the Board of Directors may co-opt 2 directors amongst co-operators, Chartered Accountants, from banking fi eld etc. However, such co-opted directors shall not be entitled to be elected as Chairperson or Vice-Chairperson or be entitled to vote at any election of Chairperson or Vice-Chairperson. Notwithstanding anything contained in these byelaws, the tenure of the co-opted directors shall be co-terminus with the tenure of the Board of Directors.

The Board of Direc-tors may, in case of decisions pertaining to employee issues, consult with the Union or representative of employees for the purpose their partici-pation in the decision making process.In Consistence with the Provision of Sec. 42 of MSCS 2002



48 Linking of Shareholding with Loan Limits : The total amount of share capital held by a member, will, however, have to be within the limits laid down by Reserve Bank of India from time to time and no member other than the authorities referred in clause © to (g) of Sub-section (1) of section 25 of the MSCS Act, 2002, shall hold more than one-fi fth of the total share capital of the bank.

Linking of Shareholding with Loan Limits : The total amount of share capital held by a member, will, however, have to be within the limits laid down by Reserve Bank of India from time to time and no member other than the authorities referred in clause © to (g) of Sub-section (1) of section 25 of the MSCS Act, 2002, shall hold more than 5%of the total share capital of the bank.

In order to re-duce the maximum shareholding by sin-gle member



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THE VISHWESHWAR SAHAKARI BANK LTD., PUNE (Multi-State Bank)Sr.No. Branch Name Postal Address Phone No. IFS Code

1 GANESH PETH (ATM)

45/46, Raviwar Peth, Kasture Chowk, Pune 411002 (020) 2447 0026 / 27 VSBL0000099

2 FURSUNGI(ATM)

S.No.169, Satyapuram, Pune-Saswad Road., Fursungi, Tal.-Haveli, Dist. Pune 412 308

(020) 2699 0715 / 2699 5854

VSBL0000002

3 MARKET YARD (ATM)

395, Market Yard, Gultekdi, Pune 411037 (020) 2426 0590 / 2427 0053

VSBL0000003

4 DHANKAWADI (ATM)

S.No.14/1/A, Pinak Shopping Complex, Jems Bajaj Showroom Building, Dhankwadi, Pune¬Satara Road, Pune 411 043

(020) 2437 2395 / 2437 5138 / 6520 0333

VSBL0000004

5 BANER ROAD (ATM)

Shriram Palace, S. No. 82/3, Opp. State Bank of Maysore, Mahluge¬Baner Road, Pune 411 045

(020) 6060 0660 VSBL0000005

6 YAMUNANAGAR (ATM)

Sector No. 21, Scheme No. 23/4, Santkripa Commercial Complex, Yamunanagar, Behind Bajaj Auto, Nigdi, Pune 411 044.

(020) 2766 1924 / 2766 1807

VSBL0000006

7 PAUD ROAD Sr. No. 89/90, Unnatti Bunglow, Lokmanya Colony, Kothkrud, Near Kinara Hotel, Paud Road, Pune 411 029

(020) 6500 5859 VSBL0000007

8 BARSHI(ATM)

2219, Velapurkar Maharaj Math, Ganesh Road, Barshi, Dist. Solapur 413 401

(02184) 225 421226 492

VSBL0000008

9 VIJAYANAGAR (ATM)

2134, Sadashiv Peth, Vijayanagar Colony, Near Girija Hotel, Pune 411030

(020) 2433 9963 / 2433 3702

VSBL0000009

10 SINHAGAD ROAD (ATM)

Sr. No. 35/2/2, Kalambe Complex, Sinhgad Rd., Vadgaon Bk., Opp. Indian Hume Pipe Co., Pune 411 051.

(020) 2435 4499 / 2435 2083

VSBL0000010

11 ERANDAWANE (ATM)

Patil Arcade, Plot No.15 A, Shop No.16, Near Kalinga Hotel, Erandwane, Pune 411 004

(020) 2542 0506 / 07 VSBL0000011

12 SOMWAR PETH Shri Ganesh Complex, 15th August Chowk, Near Ladkat Petrol Pump, Pune 411011

(020) 2612 9286 / 2614 0810

VSBL0000012

13 BUDHWAR PETH 680, Budhwar Peth, Opp Jogeshwari Mandir, Appa Balwant Chowk, Pune 411 002

(020) 2446 7040 / 2446 6485

VSBL0000013

14 BHOSARI Vishweshwar Industrial Premises Co.op.Soc. Ltd; Sector No. 7, 134/135, Pradhikaran, Opp. Times of India, Bhosari, Pune 411026

(020) 2713 0999 VSBL0000014

15 NAGAR ROAD (ATM)

Platinum Classic,Unit 8, S.No. 50/2, Kharadi, Pune¬Nagar Road, Pune¬411014

(020) 2701 3737 VSBL0000015

16 NIPANI (Karnataka)

Ashoknagar, Nipani, Tal. Chikodi, Dist. Belgum, State -Karanataka 591237

(08338) 220 150221 821

VSBL0000016

17 WARJE(ATM)

Shop No. 3, 4, B Wing, Kakade Plaza, Phase 2, Warje Road, Hingane, Pune 411052

(020) 6529 02432520 9292

VSBL0000018

18 CHAKAN(ATM)

Hotel Savera Compound, TalegoanChowk, Pune Nasik Rd., Chakan, Tal. Khed, Dist Pune 410 501

(02135) 249 119 VSBL0000019

19 PIMPALE SAUDAGAR (ATM)

Shop No. 11, “Divya Heights”, S. No. 5, Opp. Sindhu Park Society, Jagtap Dairy Road, Rahatani, Pimpale Saudagar, Pune 411 017

(020) 2730 6095 VSBL0000020

20 VISHARANTWADI (ATM)

S. No. 113/4, Shop No. 4, Dattaram Bhavan, Aalandi Road, Vishrantwadi, Pune 411 015

Mob. 77220 08893 VSBL0000021

21 KOLHAPUR(ATM)

S. No. 1394/1/2 C, Nashte Complex, Laxmipuri, Near B. Parmale Cycle Mart, Kolhapur 416 002

(0231) 2640 112 / 2640 141

VSBL0000022

22 VASHI -TURBHE (NAVI MUMBAI)

H¬32, APMC Market 1, Faze – II, Turbhe, Vashi, Navi Mumbai 400 705 (022) 2788 2323 / 2789 8518

VSBL0000023

23 SATARA(ATM)

188/A, Prathamesh Heights, Devi Chowk, Satara 415002 (02165) 226689 / 79 VSBL0000024

24 PANDHARPUR (ATM)

3067/1, Suyog Shopping Centre, Opp. GajananMaharaj Math, Pandharpur 413304

(02186) 226025 / 26 VSBL0000025

25 SHIVAJINAGAR Atithi Hotel, Opp. Sambhaji Park, J. M. Road, Shivajinagar, Pune 411004 (020) 2553 5090 / 91 VSBL0000026 26 CHINCHWAD

(ATM)Surve No. 3460, City Serve No. 1814/1815, Shop No. 11, 12, 13, Kunal Reiver Side, Chinchwad Gaon, Chinchwad Pune 411 033

(020) 6510 2027 VSBL0000027

27 SANGLI(ATM

Smartha icon, CTS 8899, Opp. SBI Bank, Vishrambag, Sangali - 416415.

(0233) 2302288 / 1230

VSBL0000028

vishweshwar sahakari bank ltd 2016 vishweshwar bank...2 the vishweshwar sahkari bank ltd., pune...

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