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DEPOSITS
We have collected savings, fixed, homesafe recurring deposits during the report year 2014/2015.There is an increase of Rs.2198,36, 121.00 in deposits and the outstanding as on year end is Rs.14914, 44, 322.00. |
LOANS,ADVANCES AND OVERDUE
During the report year bank is advancing Rs.25, 000.00 on personal surety and Rs.5, 00,000.00 on collateral security of landed property and Rs.3, 00, 000.00 as gold loan. Hire purchase loan up to Rs.50, 000.00 and vehicle loan up to Rs.3, 00, 000.00 is also being disbursed.
During the report year 2014/2015 bank has advanced Rs.13211, 75, 244.00 to members under different heads. At the yearend loan outstanding is Rs.12101, 79, 625.00. Of the above Rs.2159, 07, 025.00 is overdue. It is about 15% of total outstanding.
During the report year bank has advanced agricultural loans to Kudumbasree units at 7% interest. During 2014/2015 bank has advanced Rs.99, 51, 000.00 among 57 groups. At present bank is disbursing Rs.10, 000.00 per member and for collective farmers/ padasekharasamithi up to Rs.50, 000.00 as interest free loan for tenure of six months.
Non remittance of installments by members who have availed loans is causing very many difficulties which leads to fluent loan sanction and disbursements. Action on all overdue loans has been taken. As further step of overdue reduction all the loaned members are being contacted by the staff. Bank has implemented all the loan revival and waiver policies of the central and state governments as and when declared. We are taking this opportunity to request each and every member who have availed loans to take up measures for timely and proper remittance and help your bank in reducing overdue percentage. |
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GROUP DEPOSIT
During the financial year 2014/2015 bank has started12 group deposit schemes with sala of Rs. 1, 00, 000.00, Rs.2, 00, 000.00 and Rs.3, 00, 000.00. As on the year end there 36 running group deposits.Further we are preparing to start new group deposits each month in the Head office and branches. |
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INFORMATION / INTERNET COUNTER
We have started internet/information counter at concessional rate for the benefit of our members and students. |
FERTILIZER DEPOT
There is a fertilizer depot under banks control for smooth distribution of manure and pesticides among members and farmers. Bank is distributing manure at subsidized rate among members and farmers in co-ordination with Grampanchayath and agriculture department. |
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PROFIT DISTRIBUTION
Dividend apportioned from profit for the year 2013-2014 is being disbursed to our members. Audit finalization for the year 2014-2015 has been completed and there is enough profit for sanctioning dividend. |
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