Rajkot Nagarik Sahakari Bank Ltd.

44th Annual Report 1996-97 Direcotr's Report

44th Annual Report
Director's Report
Co-operative Brothers & Sisters
                        I have great pleasure in welcoming heartily you all to the 44 th Annual General Meeting of Rajkot Nagarik Sahakari Bank Ltd.
                         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.
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 :
                        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.
                       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 :
                        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 :
                    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".
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 :
                    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 :
                    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 :
                    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 :
                    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 :
                    Before couple of year All India Kabaddi and Carrom tournament was organised successfully under the sponsorship of the Bank's Sports Board.
                    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 :
                  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.


  1.             During the year under report 2 officers and 3 clerks were sent to outstation for their Training in various aspects in Banking discipline.
  2.             Our employees Shri N.J. Vyas (officer)and  Shri Kashiprasad Mishra (Watchman) retired for superannuation.
  3.             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.


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