Rajkot
Nagarik Sahakari Bank Ltd. |
44th Annual Report 1996-97
Direcotr's Report
|
- 44th Annual Report
- 1996-97
- Director's Report
- Co-operative Brothers & Sisters
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I have great pleasure in welcoming heartily you all to the 44 th Annual General Meeting of
Rajkot Nagarik Sahakari Bank Ltd.
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I have great pleasure in
presenting the 44th Annual Report, Audited statements of accounts and statements of Profit
& Loss along with the information of the activities of the Bank for the year ending
31st, 1997.
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- Deposits :
I am very much pleased to inform you that due to our Banks increasing creditibilities and
sound reputation the flow of deposits rose to Rs. 35 Crore 38 Lakhs. It is the metter of
proud for all of use that the faith of the people backed by efficient management and best
prompt customer services is being built with solid cements getting strengthend day by day.
This is very happy trend to take a note with proud and pleasure.
- Advances :
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To cater to the various needs of the applicant members for
advances, keeping in view to extend more and more benefits under the rules the Board of
Directors has endeavored in the field of advance portfolio, during the year under report.
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Bank has achieved a satisfactory target during the year. Advances have increased to Rs.
244.46 crore, which stood at Rs. 249.46 at the end of last years.
- Membership :
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In the opening of the year the the total number of membership
was 1,52,229 which increased as at the end of 31-03-1997, 1,67,282 while the total number
of Nominal members 26,321 as decreased to 26,172.
- Share-Capital :
- The paid-up share capital as at the end of 31-03-97 was 5,19,96,080=00
which indicates the economic soundness and stability of the bank on solid footiing.
- Profit :
- As at the end of year 31st March, 1997 bank earned profit of Rs. 2.40
Crore which was Rs. 2.25 Crore for the previous year.
- Investment :
- Bank is utilizing the increasing deposits in the field of advances to the
members as well as investing the surplus funds under the rules with full skill and
adequate thinking. As the end of 31-03-1996 this investment was Rs. 77,61,43,300/- at the
end of 31-03-1997 which rose to Rs. 97,61,43,300/- of 31-03-1997. Full details are covered
under appendix "B".
- Reserves & Other Reserves :
- At the end of 31st March, 1996 the reserve Fund of Bank was Rs. 13.03
Crore and other reserves Rs. 58.70 Crore, totaling to Rs. 71.73 Crore which increased at
the end of 31-03-1997 as Rs. 14.84 Crore and Rs. 70.78 Crore respectively totaling at Rs.
85.62 Crore Annexture "A" shows the details.
- Appropriation of Profits :
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-
As per the statement of profit and loss the expenditure during the year and amounts under
the provisions of bye-laws of the Bank are deducted and Rs. 2,40,03,670/- Crore comes to
Net profit which under the bye-laws the Board of Directors has recommended for
appropriation subject to your approval.
- The details
of appropriation of profit are covered under Appendix "D".
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- Dividend :
- The Board of Directors has recommended 15% as maximum dividend for the
year 1997 payable under the Gujarat Co-op. Societies Act 1961 under the relevant
provisions for appropriation of profit which expect you would approve.
-
Under the provisions of the bye-laws of the bank amount of unpaid dividend exceeding last
three years are to be transferred to Reserve Fund. I request the members to collect their
dividend along with the amount of interest on Compulsory Fixed deposit receipt within the
stipulated period.
- Working of Board & Committees :
-
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The Board & Committees have most efficiently performed their obligations with
dedication. The Board of Directors and Committees have been anxious to cater to the needs
of the loanee applicants to the maximum possible amount under the rules and to salve and
decide their problems with satisfaction for the members. The members of the Committees and
Director have always been active to take speedy decisions for advances. The annexure
"C" shows details.
- Opening of more Branches :
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We have been granted the licenses for opening of our New Branches at Surat & Amreli
centre. We have started our new Branches at Surat. We have the next work of 23 branches,
local & outstation, working under the control of Head office, Rajkot.
- Renovation of Bank Builders :
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Bank has started working in the new building with A.C. for our Junction Plot Ahmedabad and
Dhoraji Branches. Mavdi plot branch has also been benefited with new structural reforms
with modern facilities. The new building for our Udyognagar branch has been completed for
the use of our branch which would be occupied soon.
- New Premises :
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Bank's new building for the Sorathiawadi branches opposite the present premises of this
branch is being constructed. The construction of a new building for our newly opened Surat
branch is also under progress. New building for our Wander branch is also under
constriction.
- Sport Activities :
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Before couple of year All India Kabaddi and Carrom tournament was organised successfully
under the sponsorship of the Bank's Sports Board.
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This year again the organization of 8th All India Inter Bank volleyball tournament was
entrusted to our Bank. Our Bank;s image of having organizational capacity of successful
completion of sports of National level competitions was again confirmed by
our organizing these competitions including Night Volleyball Tournament and the name of
Co-operative sector's prominent our Bank was reaffirmed in the mind of Sports people at
large. The Secretary of the banks Sports Board, Mr.V.Krishnamurthy remained present at the
concluding ceremony above programmes and was pleased to be a witness of our successful
carrying our the assignment.
- Gifts to Members :
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Bank has offered Gifts of various household articles to the members, keeping, in
view the target of increasing deposits and its rapid growth. The process of distribution
of Gift articles are in progress the distribution programme under various sessions have
been set to mark Bank's target of deposits exceeding Rs. 300 Crores.
Bank's Day :
5th October, the Bank's
establishment Day was celebrated with full joy and enthusiasim as usual by organizing
various sports and cultural activities with the co-operation of the Board of Directors and
The Staff.
Various competition including welcoming of customers programme were organized at our
Jetpur, Dhoraji, Morbi and Jasdan Branchies marking the Bank's Day celebration with
co-operation of Staff and local advisory commettees of the respective branches.
Recovery :
Bank is anxious for recovery of overdues. To accelerate the recovery process the recovery
staff has been aided with extra officers and recovery staff with special tasks. Bank has
achieved result positively with ample recovery amount by the joint efforts of the staff
and the members of the board.
As per the Directives by the co-operative department for recovery of overdues, the amount
of Rs. 1,38,14,665=76 has been recovered.
Contribution for Social Welfare :
Bank has continue contribution for social welfare activities as per it's tradition for the
year under report.
Special Services :
To serve our customer with prompt and timely efficient customer oriented services bank has
introduce the "Same Day Clearing Service".
Junagadh Vibhagiya Nagarik Sahakari Bank :
Vijay Commercial Co.op.Bank. Ltd., Rajkot a sick was administered by our bank against the
request of the various authorities like Reserve Bank of India, Co-op. Deptt. and bank was
administered by our bank with collective efforts so successfully that the bank is now self
sufficient and has acquired a status of Healthy Bank with Audit Class "B". Bank
has reestablished itself with newly elected Board of Directors. Taking this achievement of
the bank again the authorities requested our bank to takeup the another sick bank
"Junagadh Vibhagiya Nagarik Sahakari Bank Ltd. - Junagadh". This bank was very
badly hit by maladministration and was a sick unit. To safe-guard and protest the banking
interest of the depositors, and members of the bank and survive co-op. Values, our the
bank was urged and assigned the administration of the Junagadh Vibhagiya Nagarik Sahakari
Bank Ltd. There was reasonable apprehension in the mind of the management that the
deposits will be withdrawn but no sooner the management was taken over by our bank the
flow of deposits increased and it rose to the tune of Rs. 1(One) crore, without any
further efforts for attracting the depositors. For the prompt and effective successful
management of the bank the chaiman of the Dhoraji branch of our bank shri Manojbhai Parekh
was entrusted the responsibilities as chairman of this sick bank under the direction of
our Director Shri Dayabhai Delawala, Shri D.J.Bhatt, Officer of Dhoraji branch has been
deputed as manager of the Junagadh Vibhagiya Nagarik Sahakari Bank Ltd.
Staff:
- During the year under
report 2 officers and 3 clerks were sent to outstation for their Training in various
aspects in Banking discipline.
- Our employees Shri
N.J. Vyas (officer)and Shri Kashiprasad Mishra (Watchman) retired for
superannuation.
- Shri D.N. Ghelani
(Clerk) met with untimely death. Bank takes note of his sad demise and pray almightly to
give rest of his soul in internal peace.
Vote of Thanks :
I take this opportunity to thank our directors of the Board of the bank who have
contributed to the management and development of the bank, sacrifying their valuable
times.
I express my deep sense of gratitude to the members connected with Banks day-to-day
affairs, our valued customers,depositors who have reposed their deep faith and solid trust
by co-operating with the affairs of the bank and helped developing the working of the
institution.
I am very much thankful to the bank's higher officials and members of the staff for their
promptness professional in sight and service oriented dedications to the bank which I can
not afford to ignore.
I am thankful to the officers of the Co-op. Deptt. and the officers of the Reserve Bank of
India for their useful guidance and directions from time to time and as and when needed
for efficient and progressive management of the bank.
In future also I hope that the valuable suggestions and guidance with integrated
co-operation would be available to the institution from the members and well wishers of
the bank.
Thanking you, again, Thanks to all of you. "Jai Hind " "Jai
Sahakar"
- For and on behalf of
- the board of directors.
- Chandrakantbhai Pavagadhi.
- Chairman.