Punjab State Cooperative Bank- Deposit & Credit Schemes 3 ACKNOWLEDGEMENT It is imperative for successful completion of a task to complement those who made that task work. I sincerely bow my head and thank the almighty for bestowing his blessings on me. This is utmost pleasure of mine, to show my heartfelt gratitude to those individuals who have given their considerate support and guidance. This project would not have been possible without them. I am falling short of words to express my sincere thanks to the management of Punjab State Co-operative Bank, Sangrur for providing me an opportunity to undergo training in their reputed organization. I am deeply motivated and encouraged after working with the very efficient and cooperative staff of PSCB. I am highly indebted to my faculty members of School of Govt. Ranbir College Sangrurfor helping me in various ways. My sincere regards to my friends who worked with me all through the project and helped me in the noble accomplishment. I thank my parents who have always been my driving force to work hard and keep the learning process continuous and never ending. Punjab State Cooperative Bank- Deposit & Credit Schemes 4 TABLE OF CONTENTS SR.NO TOPIC PAGE NO. 1. Certificate 2 2.Acknowledgement3 3List of tabs5 4.Abstract/Summary6 5.INTRODUCTION Industry Company Background Project Detail 7 13 37 6.Research Methodology38 7.Research Design39 8.Literature Review40 9.Chapterisation45 10.Data Analysis and Interpretation46 11.Limitations58 12. Conclusions58 13.Recommendations59 14.Bibliography60 15.Annexures61 Punjab State Cooperative Bank- Deposit & Credit Schemes 5 LIST OF TABS/FIGURES SRNO. TOPIC PAGE NO. 1. Banking Structure in India 7 2.The Banking Matrix9 3.Structure of Cooperative Banking15 4.PSCB, No. of braches, Address and Date of Origin21 5.PSCB- Organization Structure22 6.Profit and Loss of PSCB branches for three consecutive years from 2010 to 2012 23 7.Target on Term Deposits for the financial year April 2013-March 2014 26 8.Interest Rates on Deposits with effect from20.12.201226 9.Types of credit Schemes 27 10.Target on Loans for the financial year April 2013-March 201431 11.Interest Rates on Loans with effect from 20.12.201231 12.Uses of Finacle33 13.PSCB-MM, Total No. Of Accounts34 14.PSCB-MM,Average Cash in hand35 15.PSCB-MM, Average Deposits36 16.PSCB-MM,Average Loans and Advances36 17.Eligibility Criteria for availing loans43 18.Analysis and Interpretation Charts Demographic Analysis Knowledge and Awareness among customers Co-relation analysis Expectations of Customers 46 49 53 55 19.Comparison between PSCB(MM), Head Office & PSCB (total) of their annual profit 57 20.Annexures Questionnaire Comparison Of Interest Rates 61 Punjab State Cooperative Bank- Deposit & Credit Schemes 6 SUMMARY TheCooperativeSectorhasbeenplayingasignificantroleintheareaofdisbursing agricultural credit, providing market support to farmers, distribution of agricultural inputs andimpartingcooperativeeducationandtrainingetc.Thebasicobjectiveofthe CooperationDivisionistodesignlongtermandshorttermstrategiesforreducing economic disparities between the downtrodden rural people and the rural rich as well as regional imbalances including rural and urban differences. In todays competitive environment where corporates are constantly searching for ways to keep a float and sustain the market share, they have to find newer and better ways to satisfy customer needs. To run any organization successfully the management needs to think always for the betterment of their service and product. Banking business is now expanding three folds and is facing tough competition. The Private sector along with the public sector is performing high on scale and ruling the markets. Adding to the glory, there are foreign banks that have also captured a commendable market share. Considering this, the State Cooperative Banks need to take such steps which assist them in marching ahead in the race and survival of the fittest. This has always been the motto of Cooperative Banks and in order to achieve this, we are hereby analyzing the level of satisfaction of PSCB customers and their expectations. Punjab State Cooperative Bank- Deposit & Credit Schemes 7 BANKING INDUSTRY AN OVERVEIW BANKING DEFINITION In simple words, Banking can be defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit. However, with the passage of time, the activities covered by banking business have widened and now various other services are also offered by banks. The Banking services these days include issuance of debit and credit cards, providing safe custody of valuable items, lockers, ATM services and online transfer of funds across the country/ world. WHAT IS A BANK Bank is a financial institution that undertakes the banking activity that is, it accepts deposits and then lends same to earn certain profit. BANKING STRUCTURE IN INDIA RESERVE BANK OF INDIA (APEX BANK) SCHEDULED BANKS COOPERATIVE BANKS CENTRAL CO-OPERATIVE BANKS STATE COOPERATIVE BANKS PRIMARY AGRICULTURAL CREDIT SOCITIES COMMERCIAL BANKS PUBLIC SECTOR SBI & ASSOCIATES OTHER NATIONALISED BANKS PRIVATE SECTOR FOREIGN BANKS REGIONAL RURAL BANKS UNSCHEDULED BANKS Punjab State Cooperative Bank- Deposit & Credit Schemes 8 BANKING-HISTORY AND DEVELOPMENT Banking in India originated in the last decades of 18th century. The first banks were The General Bank OF India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now defunct. The oldest bank which is in existence is the State Bank of India, which originated from the Bank of Calcutta in June 1806, which almost immediately became Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under the Charters from the British East India Company. For many years the Presidency Banks acted as quasi-central Banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which upon Indias independence, became State Bank OF India. Foreign Banks started to arrive, particularly in Calcutta, in the 1860s. The Comptoire dEscompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862. Then a French colony followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the British Empire, and so became a Banking Center. The period between 1906 and 1911, saw the establishment of banks inspired by the Swadeshi Movement. It inspired local businessmen and political figures to establish banks for and of Indian Community. A number of banks established then have survived to the present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India. The Reserve Bank of India, Indias central banking authority, was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. In 1949, the Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI. NATIONALISATION Despite the provisions, control and regulations of Reserve Bank OF India, banks in India except SBI, continued to be owned and operated by private persons. By the 1960s the Indian Banking Industry had become an important tool to facilitate the development of the Indian Economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization Of Banking Industry. The Government of India issued an ordinance and nationalized the 14 largest commercial banks with effect from the midnight of July 19, 1969. Within 2 weeks of the issuance of ordinance, the Parliament passed the Banking Companies (Acquisition and Punjab State Cooperative Bank- Deposit & Credit Schemes 9 Transfer of Undertaking) Bill, and it received the presidential approval on 9th August 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for nationalization was to give the government more control of credit delivery. With this, the government of India controlled around 91% of Banking Business. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between the nationalized banks and resulted in the reduction of the number of nationalized banks from 20 to 19. After this, until the 1990s, the nationalized banks grew at a pace of around 4%, closer to the average growth rate of Indian Economy. LIBERALISATION In the early 1990s, the then Narsimha Rao government embarked on a policy of liberalization, licensing a few number of Private Banks. These came to be known as New Generation tech-savvy banks, and included Global Trust Bank (the first of such new generation banks to be set up), which later amalgamated with the Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, revitalized the banking sector in India, which has witnessed strong contribution from all the three sectors of Banks, namely- Government Banks, Private Banks and Foreign Banks. The next stage of Indian Banking is now being set up with the proposed relaxation in the norms of Foreign Direct Investment. The Current FDI limit for Public Sector banks (including SBI) is 20% and for private Banks, the limit is 74% with some restrictions. Punjab State Cooperative Bank- Deposit & Credit Schemes 10 TYPES OF BANKS The banking industry can be divided into following sectors, based on the clientele served and products and services offered: 1.Retail Banks 2.Commercial banks Public Banks Private Banks 3.Cooperative banks 4.Investment Banks 5.Specialized banks 6.Central banks Retail Banks: Retail banks provide basic banking services to individual consumers. Examples include savings banks, savings and loan associations, and recurring and fixed deposits. Products and services include safe deposit boxes, checking and savings accounting, certificates of deposit (CDs), mortgages, personal, consumer and car loans. Commercial Banks: Banking means accepting deposits of money from the public for the purpose of lending or investment. Commercial Banks provide financial services to businesses, including credit and debit cards, bank accounts, deposits and loans, and secured and unsecured loans. Due to deregulation, commercial banks are also competing more with investment banks in money market operations, bond underwriting, and financial advisory work. Commercial banks in modern capitalist societies act as financial intermediaries, raising funds from depositors and lending the same funds to borrowers. The depositors claims against the bank, their deposits, are liquid, meaning banks are expected to redeem deposits on demand, instantly. Banks claims against their borrowers are much less liquid, giving borrowers a much longer span of time to repay money owed banks. Because a bank cannot immediately Punjab State Cooperative Bank- Deposit & Credit Schemes 11 reclaim money lent to borrowers, it may face bankruptcy if all its depositors show up on a given day to withdraw all their money. THERE ARE TWO TYPES OF COMMERCIAL BANKS, PUBLIC SECTOR AND PRIVATE SECTOR BANKS. Public Sector Banks: Public sectors banks are those in which the government has a major stake and they usually need to emphasize on social objectives than on profitability.Private sector banks: Private sector banks are owned, managed and controlled by private promoters and they are free to operate as per market forces. Investment Banks: An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions, and provide ancillary services such as market making, trading of derivatives, fixed income instruments, foreign exchange, commodities, and equity securities. Investment banks aid companies in acquiring funds and they provide advice for a wide range of transactions. These banks also offer financial consulting services to companies and give advice on mergers and acquisitions and management of public assets. Cooperative Banks: Cooperative Banks are governed by the provisions of State Cooperative Societies Act and meant essentially for providing cheap credit to their members. It is an important source of rural credit i.e., agricultural financing in India. Specialized Banks: Punjab State Cooperative Bank- Deposit & Credit Schemes 12 Specialized banks are foreign exchange banks, industrial banks, development banks, export-import banks catering to specific needs of these unique activities. These banks provide financial aid to industries, heavy turnkey projects and foreign trade. Central Banks: Central banks are bankers banks, and these banks trace their history from the Bank of England. They guarantee stable monetary and financial policy from country to country and play an important role in the economy of the country. Typical functions include implementing monetary policy, managing foreign exchange and gold reserves, making decisions regarding official interest rates, acting as banker to the government and other banks, and regulating and supervising the banking industry. These banks buy government debt, have a monopoly on the issuance of paper money, and often act as a lender of last resort to commercial banks Punjab State Cooperative Bank- Deposit & Credit Schemes 13 COMPANY BACKGROUND (PUNJAB COOPERATION AT A GLANCE) ORIGIN OF COOPERATIVE BANKS IN INDIA Cooperative movement is quite well established in India. The first legislation on cooperation was passed in 1904. In 1914 the Maclagen committee envisaged a three tier structure for cooperative banking viz. Primary Agricultural Credit Societies (PACs) at the grass root level, Central Cooperative Banks (CCBs) at the district level and State Cooperative Banks at state level or Apex level. The first urban cooperative bank in India was formed nearly 100 years back in Baroda. In the beginning of 20th century, availability of credit in India, more particularly in rural areas, was almost absent. Agricultural and related activities were starved of organized, institutional credit. The rural folk had to depend entirely on the money lenders, who lent often at high rate of interest. ThecooperativebanksarrivedinIndiainthebeginningof20thCenturyasanofficial efforttocreateanewtypeofinstitutionbasedontheprinciplesofcooperative organizationandmanagement,suitableforproblemspeculiartoIndianconditions. Thesebankswereconceivedassubstitutesformoneylenders,toprovidetimelyand adequate short term and long term institutional credit at reasonable rates of interest. In theformativestageCooperativeBankswereUrbanCooperativeSocietiesrunon communitybasisandtheirlendingactivitieswererestrictedtomeetingthecredit requirements of their members. The concept of Urban Co-operative Bank was first spelt out by Mehta Bhansali Committee in 1939 which defined on Urban Co-operative Bank. ProvisionsofSection5(CCV)ofBankingRegulationAct,1949(asapplicabletoCo-operativeSocieties)definedanUrbanCo-operativeBankandwasmadeapplicablein 1966. IMPORTANCE OF COOPERATIVE BANKS IN INDIA Cooperativeshaveplayedavitalroleinimprovingtheeconomicconditionsof farmers and accelerating the pace of development in Punjab. Development through Cooperatives was a dream cherished by freedom fighters of India eversinceIndependence.Cooperativeprinciplesensureharmoniousdevelopment, through democratic management and governance. Punjab State Cooperative Bank- Deposit & Credit Schemes 14 Cooperatives have brought both the services and resources at the doorsteps of villagers in Punjab. These have been enthusiastically serving the people of Punjab in area such as agriculture, housing, spinning, sugar production, weaving and dairy etc. The performance of Cooperative Movement in Punjab is very impressive. Cooperatives constitute the major source of institutional credit for agriculture. Cooperatives are playing a pivotal role in socio-economic development of the State. These are key instruments of the State to develop and sustain its rural economy, which is primarily agrarian. The Department of Cooperation has accelerated Cooperative movement in Punjab during the last three years MISSION Punjab Cooperatives resolve for Greater self-reliance, Administrative efficiency and structural reforms. TEN COMMANDENTS OF PUNJAB GOVERNMENT (DEPARTMENT OF COOPERATION)Support and sustain agriculture as a multi-functional occupation in the states. Provide desired impetus and diversification of agriculture in the state.

Liberalize and adjust structures to deliver commodities and services to the farmers at the competitive price.

Assume quality leadership for branded products with high mark-ups in the agriculture, sugar, food, milk and handloom sectors.

Promote vertical integration for creating strong bonds with farmers and improve product quality.

Modernize and professionalize organization and management.Be action driven and become virtual Reduce operational costs and increase efficiency Increase membership and business with greater people's participationEnsure honesty, transparency and check corruption VALUES

A Cooperative is a system voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise. PRINCIPLE FEATURES OF CO-OPERATIVE BANKS Punjab State Cooperative Bank- Deposit & Credit Schemes 15 Voluntary and Open Membership Democratic Member Control Members Economic Participation Autonomy and Independence Education Training and Information Cooperation among Cooperatives Concern for Community Cooperative banks are partially financial intermediaries. The sources of their funds are: i.Central and State Government; ii.The Reserve Bank Of India, NABARD; iii.Other cooperative institutions; iv.Ownership funds and v.Deposits or debenture issues

Cooperative banks belong to the money market as well as to the capital market. Cooperative banks are subject to CRR and liquidity requirements as other scheduled and non-scheduled banks are. However, their requirements are less than commercial banks.

STRUCTURE OF COOPERATIVE BANKING RBI NABARD SCBsSLDBsUCBs CCBs PACS CLDBs PLDBsBRANCHES OFSLDBS Punjab State Cooperative Bank- Deposit & Credit Schemes 16

ABBREVIATIONS USED IN CHART: SCBs: State Cooperative Banks SLDBs:State Land Development Banks UCBs:Urban Cooperative Banks CCBs:Central Cooperative Banks CLDBs: Central Land Development Banks PACS: Primary Agricultural Credit Societies PLDBs:Primary Land Development Banks TYPES OF COOPERATIVE BANKS 1)STATE COOPERATIVE BANKS(SCBs) State cooperative banks are a federation of central cooperative banks andact as a watchdog of the cooperative banking structure in the state. Its funds are obtained from share capital, deposits, loans and overdrafts from Reserve Bank of India. State cooperative banks lend money to central cooperative banks and primary societies and not directly to farmers. 2)CENTRAL COOPERATIVE BANKS(CCBs) Central cooperative banks are the federations of primary credit societies in a district and are of two types those having a membership of primary societies only and those having a membership of societies as well as individuals. The funds of the bank consist of share capital, deposits, loans and overdrafts from state cooperative banks and joint stocks. These banks finance member societies within the limits of the borrowing capacity of societies. 3)PRIMARY AGRICULTURAL CREDIT SOCIETIES(PACS) Cooperatives have played a major role in the supply of finance to agriculture sector for the development of land, irrigation system and for its mechanization. The agricultural cooperative credit in Punjab is divided into two sectors mainly, one dealing with short and medium- term credit and the other with the long- term credit. The long term credit is awarded from the Punjab State Cooperative Land Mortgage Bank at the apex and the Primary Cooperative Land Mortgage Banks at district/tehsil level. 4)PRIMARY COOPERATIVE BANKS(PCBS) They are non- agricultural societies. These are of two types Urban Cooperative Banks and Salary Earners Societies. Development of PCBs is looked after by the RBI. The RBI and IDBI offer them concessional refinance facility on a selected basis. They operate in urban and semi urban areas. They provide housing finance and loans and advances for various purposes such as petty trade and industry Punjab State Cooperative Bank- Deposit & Credit Schemes 17 POLICY AND PLANNING Structural and Administrative Reforms 1. Punjab Cooperative Societies Act, 1961. (Proposed amendment bill 2007). 2. Downsizing and dispersal of bureaucracy to improve efficiency and delivery.

3. Formulation and Introduction of Code for Accounting and Administrative procedures in all ApexCooperative Federations. 4. Computerization of Operations and Records.

5.HumanResourceDevelopmentthroughIntensiveTrainingandUp-gradationofknowledge andskills. 6. Intensive Application of Information Technology. 7. Promotion and Development of Insurance Cooperatives.

8.CreationofafundatApexandCentralLevelfordevelopmentofPrimary Cooperatives. Promotion of New Generation Self-Reliant Cooperatives 1. Development of Women Cooperatives and self-help groups. 2. Urban Cooperative Banks. 3. Multi-purpose Cooperative Societies in rural and urban areas.

4. Greater thrust on Milk Producers' Cooperative Societies. Dis-investment from Sick and Weak Cooperatives.

1.Dis-investment fromCooperativeSpinningandSugarMillsmeritsgreaterattention and thrust.

2.AmalgamationandrestructuringofPrimaryCooperativeswhoseimbalancesare more than50% Liberalisation of Cooperative Marketing. 1. Direct sale and purchase of agro-chemicals by PACS. 2. Direct sale and purchase of fertilizers by PACS.

3.GreaterautonomytoRuralConsumerCooperativesforsupplyanddistributionof essentialcommodities in the villages. Strengthening, Modernization and Diversification of Cooperative Credit System Punjab State Cooperative Bank- Deposit & Credit Schemes 18 1. Development of Infrastructure including building infrastructure 2. Human Resource Development 3. Greater thrust on Non-Farm Financing, particularly for rural un-employed youth.

4. Greater thrust on Direct Finance to the farmers: Gradual Abolition of B-Component of short-term agricultural loans. 5. Greater thrust on Insurance Linked loaning to the farmers.

6.ReductioninAdministrativeandManagementCostsofFundstoprovidecheaper credit tofarmers. 7. Introduction of ATMcum-Debit Card 8. Introduction of personal banking on the pattern of private and commercial banks. 9. Efforts towards Merchant Banking & De-mating of Shares. 10. Efforts to increase the non-fund business.

11. Introduction of Housing Finance Schemes in selective banks. Convergence of Services

Developmentof"SehkartaBhawans"atDistrictLeveltoaccommodateallOfficesof the Department and Cooperatives to ensure easy accessto facilities for the members of Cooperatives and general public. Training Policy The Cooperatives of Punjab have paid special consideration on the Training of the staff, for which they have formed a special Training Policy. Training Institutions Regional Institute of Cooperative Management, Sector-32 Chandigarh. Punjab Institute of Coop. Training, Ltd; Chandigarh. Junior Level Training Cell (JLTC), Chandigarh. Agriculture Cooperative Staff Training Institute, Jalandhar Milkfed Training Centre, Jallandhar Punjab State Cooperative Bank- Deposit & Credit Schemes 19 MAJOR APEX COOPERATIVE FEDARATIONS COOPERATIVE FINANCING INSTITUTIONS PSCB Punjab State Cooperative Bank Ltd PSCADB Punjab State Cooperative Agricultural Development Bank Punjab Urban Co-operative Banks COOPERATIVE MARKETING & PROCESSING INSTITUTIONS Milkfed Markfed Weavco Sugarfed COOPERATIVE HOUSING DEVELOPMENT SCHEMES Housefed OTHER MAJOR COOPERATIVE INSTITUTIONS Puncofed Labourfed Fruitfed PICT Punjab State Cooperative Bank- Deposit & Credit Schemes 20 PUNJAB STATE COOPERATIVE BANK ORIGIN The Punjab State Cooperative Bank was established on 31st August, 1949 at Shimla vide registration No. 720 and it is the principle financing institution of the cooperative movement in Punjab. In 1951 its Head Office was shifted to Jalandhar from where it moved in 1963 to its present building at Chandigarh. In the cooperative Banking structure, the position of the Punjab State Cooperative Bank is extremely important as the whole credit system revolves around it. It has 19 branches and 3 extension counter in Chandigarh. There are 20 District Central Cooperative Banks having 808 branches/extension counters all over Punjab, mostly in rural areas of the State. MISSION Promotion and sustenance of economic interest & providing easy finance, cost effective and quality banking services to customer & PACs OBJECTIVES To serve as a balancing Centre for Cooperative societies in the State for Cooperatives Societies in the state of Punjab registered under Cooperative Societies Act, 1961for the time being in force. To promote the economic interest of the member banks and cooperative Societies in accordance with the cooperative principles and to facilitate the development and funding of any Cooperative society registered under the said Act. To carry on banking and credit business VISION Enforce the future challenges with grit and take every possible step for the development of our institution. More steps will be taken to provide efficient services. Punjab State Cooperative Bank- Deposit & Credit Schemes 21 Present customers will be retained and other customers will be attracted to increase market share. Bank will attract maximum deposit (especially low cost deposit) to strengthen its financial resources so as to reduce its dependency upon NABARD. Bank while diversifying its loan portfolio, will provide medium term and long term loans to the maximum extent. Every effort will be made to open account of all farmers of the State. Bank will receive deposit from farmers and meet their credit needs. Bank, for the sake of development of state, will strive hard to provide maximum and better services to customers especially farmers and for this wherever necessary, every effort will be made to modify the schemes. Bank will prepare its business plan every year and by implementing it , goals set will be achieved Bank will professionalize and modernize the business. PUNJAB STATE COOPERATIVE BANK BRANCHES SR.NONAME OF BRANCHDATE OF OPENING 1.Main branch-34, S.C.O. 175-187,Sector-34,CHD10.02.2000 2.Branch Office-8, S.C.O. 130-31, Sector-8C,CHD01.10.1977 3.Branch Office-10, S.C.O.19, Sector-10,C.H.D05.01.1994 4.Branch Office-17, S.C.O.17, Sector-17,C.H.D31.08.1949 5.Branch Office-20, S.C.O.34, Sector-20 C, C.H.D04.04.1994 6.Branch Office-22, S.C.O.2453,Sector-22C,C.H.D15.01.1971 7.Branch Office-27, S.C.F.3, Sector-27 D,C.H.D24.01.1976 8.Branch Office-30, S.C.O.9, Sector-30 D,C.H.D02.03.1990 9.Branch Office-32, S.C.O.378, Sector-32,C.H.D05.10.1982 10.Branch Office-35, S.C.O.451-452, Sector- 35 C, C.H.D 06.07.1982 11.Branch Office-36, S.C.O.211, Sector-36 D,C.H.D13.12.1993 12.Branch Office-37, S.C.O.392, Sector-37 C,C.H.D04.05.1979 13.Branch Office-38, S.C.O.84, Sector-38 C,C.H.D04.04.1994 14.Branch Office-40, S.C.O.232, Sector-40 D,C.H.D11.09.1989 15.Branch Office-44, S.C.O.362, Sector-44 D,C.H.D29.04.1992 16.Branch Office-47, S.C.O.60, Sector-47-D,C.H.D 28.12.1985 17.Branch Office Manimajra, Motor Market, MM, C.H.D 24.10.1994 Punjab State Cooperative Bank- Deposit & Credit Schemes 22 18.Branch Office- Ramdarbar, IND. Area II,C.H.D04.04.1994 19.Branch Office-Sectt. , Punjab Civil Secretariat,C.H.D 23.05.1972 20.Extension Counter- Mini Sectt. 9 Mini Sectt., Sector-9 , C.H.D 23.05.1972 PUNJAB STATE CO-OPERATIVE BANK ORGANISATION STRUCTURE Punjab State Cooperative Bank- Deposit & Credit Schemes 23 PROFITS AND LOSSES OF PSCB BRANCHES FOR THREE CONSECUTIVE YEARS FROM 2010 TO 2012(FIGURES IN LAKHS) -100-500501001502002502009-10 2009-11 2009-12PSCB-8PSCB-10PSCB-17PSCB-20PSCB-22PSCB-27PSCB-30PSCB-32PSCB-34PSCB-35PSCB-36PSCB-37PSCB-38PSCB-40PSCB-44PSCB-47PSCB-MMPSCB-MSPSCB-RDPSCB-SECTTPunjab State Cooperative Bank- Deposit & Credit Schemes 24 PRODUCTS OFFERED BY BANK 1. Saving Bank A/c A saving bank A/c can be opened with an initial deposit of Rs.500/- without Cheque Book facility and Rs.1000/- with cheque book facility. Eligible categories to open SB A/c Any individual Joint Account with others in the form of either or survivor, Former or Survivor Minors Illiterate persons Blind person Joint Hindu Family Cooperative Societies, Clubs, Associations etc. Only 30 withdrawals are allowed per half year for a savings bank account exceeding which service charges will be levied. Maximum limit of withdrawal form is Rs. 20,000/- 2.Saving Bank- No frill A/c This account can be opened by an individual without furnishing any resident proof or any proper introduction. Minimum amount with which account can be opened is Rs.10/- and the balance here should not exceed Rs. 50000/- , otherwise, it will become SB A/c. No cheque book is allowed to be issued to customers 3.Term Deposit A/c The deposit is received by the bank for a specific period which is withdraw able after expiry of said period. Eligible categories to open SB A/c Any individual Joint Account with others in the form of either or survivor, Former or Survivor Minors Illiterate persons Blind person Joint Hindu Family Cooperative Societies, Clubs, Associations etc. Minimum amount to be kept is Rs.1000/- Punjab State Cooperative Bank- Deposit & Credit Schemes 25 The terms and conditions regarding rate of interest and time period are determined by bank from time to time. 4.Recurring Deposit A/c It can be opened with certain initial deposit wherein a Depositor needs to deposit money by way of monthly installments over a stipulated period.The period may be 2, 24, 36, 48, 60 months etc. On the expiry of the period, the accumulated amount along with interest is paid in lumpsum. All the parties are eligible for this account The rate of interest applicable on recurring deposit will be the rate of interest applicable on term deposit for that period Minimum monthly installment for this account is Rs.100/-. Maximum period is 10 years 5.Current A/c Initial deposit of Rs.5000/-. Eligible parties Sole Proprietorship Partnership firm Club/Association Religious institution Government/Semi-Govt Local bodies 6.Locker A/c Facility of locker is available in four different sizes viz. small, medium, large and extra large. A prospective buyer who wants the locker facility has to have a Saving Bank account with the bank so that annual Locker Rent can be Debited from that Account Lockers can be hired in individual capacity or jointly with others. Punjab State Cooperative Bank- Deposit & Credit Schemes 26 TARGET FOR TERM DEPOSITS FOR THR FINANCIAL YEAR APRIL 2013-MARCH 2014 INTEREST RATES ON DEPOSIT WITH EFFECT FROM 20.12.2012 SR.NO SCHEMES Period from Period up to Rate of interest(Public) Rate of interest(Sr.citizen) 1.Saving Bank A/c - - 4.00% 4.00% 2.Saving Bank- NO frill A/c - - 4% 4% 3.Term Deposit A/c 7days 14 days 4% 4.50% 4.Term Deposit A/c 15days 30 days 5.00% 5.50% 5.Term Deposit A/c 31 days 45 days 6.50% 7.00% 6.Term Deposit A/c 46days 90 days 6.75% 7.25% 7.Term Deposit A/c 91 days 179 days 7.00% 7.50% 0%10%20%30%40%50%60%70%80%90%100%PSCB PSCB-MM30.03.201430.12.201330.09.201330.06.2013Punjab State Cooperative Bank- Deposit & Credit Schemes 27 8.Term Deposit A/c 180