format of bank balance sheet

7/31/2019 Format of Bank Balance Sheet

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Microfinance is the supply of loans, savings, and other basic financial services to the poor."(http://cgap.org)

As these financial services usually involve small amounts of money - small loans, small savings, etc.- the term "microfinance" helps to differentiate these services from those which formal banks provide

Why are they small? Someone who doesn't have a lot of money isn't likely to want or be able to takeout a $50,000 loan, or be able to open a savings account with an opening balance of $1,000.

It's easy to imagine poor people don't need financial services, but when you think about it they areusing these services already, although they might look a little different.

"Poor people save all the time, although mostly in informal ways. They invest in assets such as gold,jewelry, domestic animals, building materials, and things that can be easily exchanged for cash.

They may set aside corn from their harvest to sell at a later date. They bury cash in the garden orstash it under the mattress. They participate in informal savings groups where everyone contributesa small amount of cash each day, week, or month, and is successively awarded the pot on a rotatingbasis. Some of these groups allow members to borrow from the pot as well. The poor also give theirmoney to neighbors to hold or pay local cash collectors to keep it safe.

"However widely used, informal savings mechanisms have serious limitations. It is not possible, forexample, to cut a leg off a goat when the family suddenly needs a small amount of cash. In-kindsavings are subject to fluctuations in commodity prices, destruction by insects, fire, thieves, or illness(in the case of livestock). Informal rotating savings groups tend to be small and rotate limitedamounts of money. Moreover, these groups often require rigid amounts of money at set intervalsand do not react to changes in their members' ability to save. Perhaps most importantly, the poor aremore likely to lose their money through fraud or mismanagement in informal savings arrangements

than are depositors in formal financial institutions." (http://cgap.org)

"The poor rarely access services through the formal financial sector. They address their need forfinancial services through a variety of f inancial relationships, mostly informal." (http://cgap.org)

The History of Modern Microfinance

Percentage of Population living on less than $1 a day (http://wikipedia.org)
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Credit unions and lending cooperatives have been around hundreds of years. However, thepioneering of modern microfinance is often credited to Dr. Mohammad Yunus, who beganexperimenting with lending to poor women in the village of Jobra, Bangladesh during his tenure as aprofessor of economics at Chittagong University in the 1970s. He would go on to found GrameenBank in 1983 and win the Nobel Peace Price in 2006. (http://globalenvision.org)

Since then, innovation in microfinance has continued and providers of financial services to the poorcontinue to evolve. Today, the world bank estimates that about 160 million people in developingcountries are served by microfinance. (http://web.worldbank.org)

II. Microfinance Providersback to top

Microfinance Institutions

A microfinance institution (MFI) is an organization that provides microfinance services. MFIs rangefrom small non-profit organizations to large commercial banks.

"Historical context can help explain how specialized MFIs developed over the last few decades.Between the 1950s and 1970s, governments and donors focused on providing subsidizedagricultural credit to small and marginal farmers, in hopes of raising productivity and incomes. Duringthe 1980s, micro-enterprise credit concentrated on providing loans to poor women to invest in tinybusinesses, enabling them to accumulate assets and raise household income and welfare. Theseexperiments resulted in the emergence of nongovernmental organizations (NGOs) that providedfinancial services for the poor. In the 1990s, many of these institutions transformed themselves intoformal financial institutions in order to access and on-lend client savings, thus enhancing theiroutreach." (http://cgap.org)

Why don't banks serve poor people?

World population with access to Finance (http://worldbank.org)

Formal financial institutions were not designed to help those who don't already have financial assets- they were designed to help those who do. So what do poor people do?

"Credit is available from informal commercial and non-commerical money-lenders but usually at avery high cost to borrowers. Savings services are available through a variety of informal
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relationships like savings clubs, rotating savings and credit associations, and mutual insurancesocieties that have a tendency to be erratic and insecure." (http://cgap.org)

Some banks do provide these services, however. Grameen Bank in Bangladesh was formed out of aproject providing small loans to women in the village of Jobra. Bancosol, a commercial bank inBolivia, is also a bank which provides microfinance services for the poor of Bolivia.

However, the majority of formal banks do not provide microfinance products as microfinance is anexpensive enterprise - you can make a lot more money on a large loan than a small loan, and youwon't make much money holding savings accounts with very little funds in them. Banks can makemore money if they only provide financial services to those who already have money.

III. Costs, Interest Rates, andSustainabilityback to top

Interest Rates (They're High)

Sikiratou Salamiis from Togo, she took a loan out to purchase supplies for her cosmetics businessand plans to use part of her profits to finance the schooling of her three children.

The nature of microcredit - small loans - is such that interest rates need to be high to return the costof the loan.

"There are three kinds of costs the MFI has to cover when it makes microloans. The first two, thecost of the money that it lends and the cost of loan defaults, are proportional to the amount lent. Forinstance, if the cost paid by the MFI for the money it lends is 10%, and it experiences defaults of 1%of the amount lent, then these two costs will total $11 for a loan of $100, and $55 for a loan of $500.An interest rate of 11% of the loan amount thus covers both these costs for either loan.

"The third type of cost, transaction costs, is not proportional to the amount lent. The transaction costof the $500 loan is not much different from the transaction cost of the $100 loan. Both loans requireroughly the same amount of staff time for meeting with the borrower to appraise the loan, processingthe loan disbursement and repayments, and follow-up monitoring. Suppose that the transaction costis $25 per loan and that the loans are for one year. To break even on the $500 loan, the MFI wouldneed to collect interest of $50 + 5 + $25 = $80, which represents an annual interest rate of 16%. Tobreak even on the $100 loan, the MFI would need to collect interest of $10 + 1 + $25 = $36, which isan interest rate of 36%. At first glance, a rate this high looks abusive to many people, especially
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when the clients are poor. But in fact, this interest rate simply reflects the basic reality that when loansizes get very small, transaction costs loom larger because these costs can't be cut below certainminimums." (http://cgap.org)

Profitability and Sustainability of MFIs

"Some worry that an excessive concern for profit in microfinance will lead MFIs away from poorclients to serve better-off clients who want larger loans. It is true that programs serving very poorclients are somewhat less profitable than those reaching better-off clients, but this may say moreabout managers' objectives than an inherent conflict between serving the very poor and profitability.MFIs serving the very poor are showing rapid financial improvement. Microfinance programs likeBangladesh Rural Advancement Committee and ASA in Bangladesh have already demonstratedthat very poor clients can be reached profitably: both institutions had profits of more than 4% ofassets in 2000.

There are cases where microfinance cannot be made profitable, for example, where potential clientsare extremely poor and risk-averse or live in remote areas with very low population density. In suchsettings, microfinance may require continuing subsidies. Whether microfinance is the best use of

these subsidies will depend on evidence about its impact on the lives of these clients."(http://cgap.org)

IV. Microfinance Impact and Outcomesback to top

Evidence that Microfinance Works

"Gun Keshari has become a regular borrower of [an MFI] and over time, with the support of small,

low-interest loans, Gun Keshari has seen a dramatic improvement in the living standards of her

family."

- Polly BanksKiva Fellow, Nepal
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According to CGAP, "Comprehensive impact studies have demonstrated that:

Microfinance helps very poor households meet basic needs and protect against risks

The use of financial services by low-income households is associated with improvements inhousehold economic welfare and enterprise stability or growth;

By supporting women's economic participation, microfinance helps to empower women, thuspromoting gender-equity and improving household well-being;

For almost all significant impacts, the magnitude of impact is positively related to the length oftime that clients have been in the program." (UNCDF Microfinance)

"Poor people, with access to savings, credit, insurance, and other financial services, are moreresilient and better able to cope with the everyday crises they face. Even the most rigorouseconometric studies have proven that microfinance can smooth consumption levels and significantlyreduce the need to sell assets to meet basic needs. With access to microinsurance, poor people cancope with sudden increased expenses associated with death, serious illness, and loss of assets.

"Access to credit allows poor people to take advantage of economic opportunities. While increased

earnings are by no means automatic, clients have overwhelmingly demonstrated that reliablesources of credit provide a fundamental basis for planning and expanding business activities. Manystudies show that clients who join and stay in programs have better economic conditions than non-clients, suggesting that programs contribute to these improvements. A few studies have also shownthat over a long period of time many clients do actually graduate out of poverty.

"By reducing vulnerability and increasing earnings and savings, financial services allow poorhouseholds to make the transformation from "every-day survival" to "planning for the future."Households are able to send more children to school for longer periods and to make greaterinvestments in their children's education. Increased earnings from financial services lead to betternutrition and better living conditions, which translates into a lower incidence of illness. Increasedearnings also mean that clients may seek out and pay for health care services when needed, ratherthan go without or wait until their health seriously deteriorates." (http://cgap.org)

"Empirical evidence shows that, among the poor, those participating in microfinance programs whohad access to financial services were able to improve their well-being-both at the individual andhousehold level-much more than those who did not have access to financial services.

In Bangladesh, Bangladesh Rural Advancement Committee (BRAC) clients increased householdexpenditures by 28% and assets by 112%. The incomes of Grameen members were 43% higherthan incomes in non-program villages.

In El Salvador, the weekly income of FINCA clients increased on average by 145%.

In India, half of SHARE clients graduated out of poverty.

In Ghana, 80% of clients of Freedom from Hunger had secondary income sources, compared to

50% for non-clients. In Lombok, Indonesia, the average income of Bank Rakyat Indonesia (BRI) borrowers increased

by 112%, and 90% of households graduated out of poverty.

In Vietnam, Save the Children clients reduced food deficits from three months to one month."(http://cgap.org)

"Microcredit may be inappropriate where conditions pose severe challenges to loan repayment. Forexample, populations that are geographically dispersed or have a high incidence of disease may not
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be suitable microfinance clients. In these cases, grants, infrastructure improvements or educationand training programs are more effective. For microcredit to be appropriate, the clients must havethe capacity to repay the loan under the terms by which it is provided." (http://yearofmicrocredit.org)

Microfinance Can Be a Good Tool For Empowering Women

"Microfinance programs have generally targeted poor women. By providing access to financialservices only through women-making women responsible for loans, ensuring repayment throughwomen, maintaining savings accounts for women, providing insurance coverage through women-microfinance programs send a strong message to households as well as to communities.

Many qualitative and quantitative studies have documented how access to financial services hasimproved the status of women within the family and the community. Women have become moreassertive and confident. In regions where women's mobility is strictly regulated, women havebecome more visible and are better able to negotiate the public sphere. Women own assets,including land and housing, and play a stronger role in decision making.

In some programs that have been active over many years, there are even reports of declining levels

of violence against women." (http://cgap.org)

"Today I'm a very respected woman in the community. I have come out of the crowd of women whoare looked down upon. Due to the loan that I received... you have made me to be a champion out of

nobody."

- Rose Athieno, Produce Reseller, Uganda

Microfinance is Not a Silver Bullet

"Microfinance is but one strategy battling an immense problem.

"In the last two decades, substantial progress has been made in developing techniques to deliverfinancial services to the poor on a sustainable basis. Most donor interventions have concentrated on

one of these services, microcredit. For microcredit to be appropriate however, the clients must havethe capacity to repay the loan under the terms by which it is provided. Otherwise, clients may not beable to benefit from credit and risk being pushed into debt problems. This sounds obvious, butmicrocredit is viewed by some as "one size fits all." Instead, microcredit should be carefullyevaluated against the alternatives when choosing the most appropriate intervention tool for a specificsituation.

"Microcredit may be inappropriate where conditions pose severe challenges to standard microcreditmethodologies. Populations that are geographically dispersed or nomadic may not be suitable
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microfinance candidates. Microfinance may not be appropriate for populations with a high incidenceof debilitating illnesses (e.g., HIV/AIDS). Dependence on a single economic activity or singleagricultural crop, or reliance on barter rather than cash transactions may pose problems. Thepresence of hyperinflation, or absence of law and order may stress the ability of microfinance tooperate. Microcredit is also much more difficult when laws and regulations create significant barriersto the sustainability of microfinance providers (for example, by mandating interest-rate caps).

(http://cgap.org)

While microfinance can not reach all economic segments of society, it has been shown to reachsegments previously un-serviced by other financial markets.

Examples of Some Alternative Strategies

Grants can be used to help overcome the social isolation, lack of productive skills, and low self-confidence of the extreme poor, and to prepare them for eventual use of microcredit. Small grantsand other financial entitlements can work well as first steps to "graduate" the poor from vulnerabilityto economic self-sufficiency. A successful example is the BRAC Income Generation for VulnerableGroups Development program in Bangladesh. This program has graduated more than 660,000destitute women through free food, training, health care, and savings to BRAC's mainstreammicrocredit program.

Investments in infrastructure, such as roads, communications, and education, provide a foundationfor economic activities. Community-level investments in commercial or productive infrastructure(such as market centers or small-scale irrigation schemes) also facilitate business activity.

Employment programs prepare the poor for self-employment. Food-for-work programs and publicworks projects fit this model. In many cases, these programs may be out of reach for cash-strappedlocal governments but within the purview of donors.

Non-financial services range from literacy classes and community development to market-basedbusiness-development services. While non-financial services should be provided by separateinstitutional providers, there are clear, complementary links with the demand for and impact of

microcredit. For example, improved access to market opportunities stimulates - and depends on -securing credit to cover the costs (product design, transport, etc.) of taking advantage of thoseopportunities.

Legal and institutional reforms can create incentives for microfinance by improving the operatingenvironment for both microfinance providers and their clients. For example, streamlining micro-enterprise registration, abolishing caps on interest rates, loosening regulations governing non-mortgage collateral, strengthening the judicial system, and reducing the cost and time of propertyand asset registration can foster a supportive climate for microfinance." (http://cgap.org)
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011 Kiva. All rights reserved. Kiva is a U.S. 501(c)3 non-profit organization.

Will common borrowers benefit

from new banking licences?The step will encourage competition, which will result in lower interest rates and

customized loan and deposit products for the consumer

In The Offing | Adhil ShettyReserve Bank of Indias (RBI) recent draft guidelines on issuing new bank licences have

generated significant excitement among companies that have been waiting for RBIs move on the

subject. The step will encourage competition, which will result in lower interest rates and

customized loan and deposit products for the consumer. Considering that banking penetration ofloans and deposits in India is extremely lowmortgage as a percentage of the gross domestic

product (GDP) in India was 7% compared with an average of 22.5% in other developing

countries and 80% in the US (2008 statistics)more competition and greater financial inclusion

are worthy policy objectives to pursue while managing the inherent risk that goes with such a

change in licensing regime.

There has been much debate on allowing companies to start banking services. The proponents

and detractors both have merits to their argument. Hence, RBI and the finance ministry have

been mulling over this for quite some time. I will discuss how this will affect common loan

borrowers in India, especially in case of home, personal and auto loans. If the new regulation is

implemented properly then we will have new banks in India with more customer-focused,

dynamic and innovative services.

Effect on auto and consumer loan

Innovation: New banking entrants will have the appetite and capability to take innovation to a

new level in product design and can also be expected to bring a fresh customer focused approach

to banking. We can expect to see new financial products in home and auto loan segments.

We have seen how Manappuram Finance Ltd and Muthoot Finance Ltd built their portfolio solely

by offering gold loans to consumers as an alternative to traditional moneylenders. This product

from non-banking financial companies (NBFCs) took the market by storm and today every bankin India, including the largest private and government-owned banks, offer gold loans at an

attractive interest rates of 12-15% as an alternative to personal loans in the 15-20% interest

rate range. This gold loan innovation would not have come about if NBFCs hadnt shown the way.

Knowing that their source of funds (as NBFCs) was higher than those of banks because of which

they could never hope to offer 8% home loans like the banks, they innovated in a product

category (gold loans) for which they knew they could charge more than 12% and yet find

demand at a profit. If these NBFCs and qualified corporate houses are provided full banking
http://www.caclubindia.com/books/order_Rajkumar_S_Adukia.asp


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licences they could innovate with home, car and personal loans in the same way they did with

gold loans and the winner in this competition would be the intelligent Indian consumer.

Axis Bank Ltds 0% prepayment fee home loan, Housing Development Finance Corp. Ltds three-

five-year fixed home loan, ICICI Bank Ltds two-year fixed home loan are all examples of product

innovation that make it easier for borrowers to refinance and manage their exposure to interestrate risk albeit for a portion of the loan tenor. Increased competition will result in more such

products and optimized risk management schemes tailored to individual borrower risk profile and

requirements.

Lower interest rate: The second effect will be on the interest rate. The market will have more

competition among banks. This will again be good for the borrower as many banks may offer

lower rates on cars or homes. There will be more innovative partnerships with car

manufacturers, online financial services, dealers, real estate developers and sellers to provide a

better value proposition for the customers.

Better festival deals: Consumers can also expect to see better and increased number of dealsduring festivals for car and consumer loans.

More choice: Finally, borrowers will have more choices. You will be able to choose from a

variety of options ranging from floating rates, fixed rates or a combination.

The challenges

The risk outlined by many economists and bankers is that the companies may create banking

structures in a manner that they lend their own holdings and projects without implementing

enough risk control mechanisms. This is a valid concern. If companies focus more on lending

their own ventures instead of servicing people, the advantage of such companies coming into the

banking sector may not be beneficial for common borrowers.

The main deterrent to this move of increasing competition is that banking services are very

different from typical company services. The cost of failure is too high and failure of one entity

can have a cascading effect on other banks. Effective monitoring and streamlining will be an

immense challenge for RBI with the increase in numbers of new companies but it will have a

positive effect on the consumer if the risk is managed right.

However, allowing private firms to be a part of the banking sector could be a great policy

initiative by RBI if it also implements strong measures to check misuse of the banking licence. It

is a step that can only help borrowers.


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A Hand Book On Statutory Bank Branch Audit -

ANNEXURE AFORMAT OF BALANCE SHEET AND PROFIT & LOSS ACCOUNT

Sub-section (1) of section 29 of the Banking Regulation Act, 1949 requires every bankingcompany to prepare a balance sheet and a profit and loss account in the forms set out in

the Third Schedule to the Act or as near thereto as the circumstances admit.

It has two part A- Balance sheet and Part B Profit and loss account. Format of both is asunder

FORM AForm of Balance SheetBalance Sheet of __________________________ (here enter name of the BankingCompany)Balance Sheet as on 31st March (Year) (000s

omitted)Schedule As on 31.3__

(current year) As on 31.3__(previous year)Capital & LiabilitiesCapital 1Reserves & Surplus 2Deposits 3Borrowings 4Other liabilities and provisions 5

TotalAssetsCash and Balances with Reserve

Bank of India 6Balances with banks and money atcall and short notice 7Investments 8Advances 9Fixed Assets 10Other Assets 11


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TotalContingent LiabilitiesBills for Collection 12Schedule I

CapitalAs on 31.3__(current year) As on 31.3__(previous year)

I. For Nationalised BanksCapital (Fully owned by Central Government)

II. For Banks Incorporated Outside IndiaCapital (The amount brought in by banks by

way of start-up capital as prescribed by RBIshould be shown under this head.)Amount of deposit kept with RBI under section11(2) of the Banking Regulation Act, 1949

TotalIII. For Other Banks

Authorised Capital

(. shares of Rs. each)Issued Capital

( shares of Rs.. each)Subscribed Capital

(..shares of Rs.. ..each)Called-up Capital

(. shares of Rs each)Less: Calls unpaidAdd: Forfeited shares

TotalSchedule 2

Reserves & SurplusAs on 31.3__(current year) As on 31.3__(previous year)

I. Statutory ReservesOpening BalancesAdditions during the year

Deductions during the yearII. Capital Reserves

Opening Balances

Additions during the yearDeductions during the year

III. Share PremiumOpening BalancesAdditions during the year


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Deductions during the yearIV. Revenue and Other Reserves

Opening BalanceAdditions during the yearDeductions during the year

V. Balance in Profit and Loss AccountTotal (I, II, III, IV and V)

Schedule 3Deposits

As on 31.3__(current year) As on 31.3__(previous year)

A. I. Demand Deposits(i) From banks(ii) From others

II. Savings Bank DepositsIII. Term Deposits

(i) From banks(ii) From others

Total

(I, II and III)B. (i) Deposits of branches in

India

(ii) Deposits of branchesoutside IndiaTotal

Schedule 4Borrowings


I. Borrowings in India(i) Reserve Bank of India(ii) Other banks(iii) Other institutions andagencies

II. Borrowings outside IndiaTotal (I & II)

Secured borrowings included in I & II above Rs.Schedule 5Other Liabilities and Provisions



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I. Bills payableII. Inter-office adjustments (net)III. Interest accruedIV. Others (including provisions)

Total

Schedule 6Cash and Balances with Reserve Bank of India


I. Cash in hand(including foreign currency notes)

II. Balances with Reserve Bank of India(i) in Current Account

IV. (ii) in Other AccountsTotal (I & II)

Schedule 7Balances with Banks and Money at Call & Short Notice


I. In India(i) Balances with banks

(a) in current accounts

(b) in other depositaccounts(ii) Money at call and short notice

(a) with banks(b) with other institutionsTotal (i & ii)

II. Outside India(i) in current accounts

(ii) in other deposit accounts(iii) Money at call and short notice

TotalGrand Total (I & II)

Schedule 8Investments

As on 31.3__

(current year) As on 31.3__(previous year)


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I. Investments in India in(i) Government securities

(ii) Other approved securities(iii) Shares(iv) Debentures and bonds

(v) Subsidiaries and/or joint ventures(vi) Others (to be specified)

Total

format of bank balance sheet

Documents