the goa state co-operative bank ltd. -...

THE GOA STATE CO-OP. BANK LTD.51st ANNUAL REPORT 2013-14

v v1

THE GOA STATE CO-OPERATIVE BANK LTD.

(Scheduled Bank)

Know Your Bank Registered Head Office :

Registration No. & Date: BNK(a)-1/Goa

07th November 1963

“SAHAKAR SANKUL" Patto

Plaza, EDC Complex, Panaji

Goa - 403001

Ph:0832-2437641

Fax: 0832-2437649, 2437283

Date of Commencement

of Business2nd February 1964

Multi-State Status : 10th August 1988 Website:www.gscbgoa.com

E-mail: [email protected]

RBI Licence No.: PRCD.BOM.51-S. REGIONAL OFFICES

DAMANDate: 27th July 1994

Scheduled Bank Status 15th December 1994 14/54, Dilip Nagar, Nani Daman.

396210 Ph: 0260-2255984

Fax: 0260-2255984Apex Bank Status

post Multi-State category

Govt. of Goa No.& Date: 26/1/98/TS/RCS

dated 27th March 2000

DIU

Govt.of U.T.of Daman & Diu

No. & Date:RCS/GB/178/Vol.II/03-04/146

06/08/2004

55 (9-10), 1st Floor, Gandhi

Bhuvan, Bunder Chowk, Diu

362520

Ph : 02875-254972,

Fax : 02875-252172

BRANCHES 67

GOA : 58

DAMAN : 5

DIU: 4

PAN AAAAT3364R

TAN BLRT01310B

Service Tax Regi.: AAAAT3364RST001

Bank Code: 0007025

DICGC Code: 3030/7025

Chairman: Shri. Ulhas B. Phal Dessai

Election Date: 28/08/2012

Vice Chairman: Shri. Avelino Marcos S. D'Silva

Election Date: 28/08/2012

Managing Director (I/C): Shri Avdhut A. Tanksali

Appointment Date: 01/05/2014

Statutory Auditors: R.K.Pikale & Co.

Chartered Accountants


2v v

BOARD OF DIRECTORS

ADDRESS & PHONE NO. CONSTITUENCY

Shri Ulhas Baban Phal Dessai

ChairmanShiv Sai – Shantinagar,

Near Hotel Shubham,

Aquem, Baixo,

Rawanfond, Margao-

Goa.Cell No.9850464652

Urban Banks and Urban

Credit Societies from Goa

State

NAME

1.

Shri Avelino Marcos Sebastiao D'Silva

Vice-ChairmanH.No. 48/A, Naikwaddo,

Velim, Salcete – Goa.

Cell No.9822102253

Seva Societies of Goa

State

2.

Shri Ramchandra Govind Naik Mule

DirectorBhagawati Niwas,

Dhavalimol, Dhavali, Post

Box No.33, Ponda, Goa.

Cell No.9822122840


State

3.

Shri Prabhakar Krishna Gauns

Director270, Ambikanagar, Bhamai,

Pale Goa- 403 105.

Cell No.9823058725


State

4.

Shri Narayan Vassudev Mandrekar

DirectorC/o. Vishvesandesh

Industries, B.B. Borkar

Marg, Alto Porvorim,

Bardez, Goa – 403521

Cell No.9860112772

Consumers and Marketing

Societies from Goa State

5.

Shri Rameshbhai Jivabhai Bamania

DirectorC/o, Gold Moon Restaurant,

Near Petrol Pump, Raberi

Road, Diu – 362520

Cell No.9898477999/

9429513999

All types of Societies from

Diu District

6.

Shri Mohanbhai Premabhai Tandel

DirectorChapali Sheri, Katharia,

Nani Daman

Cell No.9825365036

All types of Societies from

Daman District

7.

Ar. Umesh Balkrishna Shirodkar

Director65, Shirodkar Sadan,

Vithalwadi Road, Ansabhat,

Mapusa, Goa – 403507.

Cell No.9822120788

Other types of Societies

from Goa State

8.

Shri Gopal Atmaram Parab

Director181/4, Bhom, Palyem,

Pedne-Goa.

Cell No.9822160601/

9271546230/ 8806730601

Individual Members9.

Dr. Datta Hari Bhat

DirectorNear Football Ground,

Mardol, Ponda-Goa.

Cell No.9422643877

Salary Earners Credit


10.

Shri Krishna Vassudev Kudnekar

DirectorVoilem Bhat, Merces,

Tiswadi-Goa.

Cell No.9822167898


State

11.


v v3

ADDRESS & PHONE NO. CONSTITUENCY

Shri Dattatraya Atmaram Naik

DirectorVagurme, Verem,

Ponda-Goa.

Cell No.9422442725

Salary Earners Credit So-

cieties from Goa State

NAME

12.

Dr. Sanjay Prabhakar Sawant Dessai

DirectorF-12, Vilanova,

Shirvodem, Margao-Goa

Cell No.9765569757

Salary Earners Credit


13.

Shri Premanand Vasu Chawdikar

DirectorAmbegal, Pale-Goa.

Cell No.9923036991

Consumers and Marketing


14.

Shri Baburao Shrikant Fotto Desai

DirectorH.No.50, Bansai,

Curchorem-Goa.

Cell No.9403878999

Dairy Societies from Goa

State

15.

Smt. Vidhya Ramkrishna. Parab

DirectorVidhya Sadan, Tambda

Rasta, Mulgao, Bicholim-

Goa.

Cell No.9422440848 /

9823840118

Women's Co-operative

Societies

16.

Shri Michael M. D'Souza

Addl. Secretary (Finance)

[Representative of Secretary

(Finance)]

Ph: 2419500,2414626-27,

2414880,2419700

Cell No. 9890370505

Govt. Nominee17.

Shri Pundalik V. Khorjuekar

Dy. Registrar of Coop. Societies (Admn.)

Representative of Secretary (Coop.)]

Cell No.9420595095 Govt. Nominee18.

Shri G. R. Kajoli

Asstt. Registrar of Coop. Societies (Audit)

(Representative of Registrar of Coop. Societies)

Cell No.9423061862 Govt. Nominee19.

Representative of NABARD

(Not nominated)20.


4v v

Cell No. Office No.

Shri Sadanand N. Borkar

Retired on 30/04/2014

Shri Avadhut A Tanksali

From: 01/05/2014

Shri Suresh V. Lotlikar

Shri Anant M. Chodankar

Shri Damodar G.Naik

Shri Braulio Fernandes

Shri Mahadev N. Gaonkar

Shri Kisan G.Mayekar

Shri Gonu G.Naik

Shri Chandrakant G. Govekar

Shri Nitant R. Chodankar

Shri Sitaram.M. Redkar

Shri Ishwarbhai M. Patel

Shri Chunilal B. Solanki

TOP MANAGEMENT

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

Sr.

No.

Managing Director

Managing Director-(I/C)

Secretary (I/C)

GM – A & RD

GM - Accounts

GM - Planning & Statistics

GM - Inspection & Audit

GM - ADM

GM – Loans & Advances

GM - Recovery

GM – MIS(I/C)

GM - LEGAL

R.M. - Daman

R.M. - Diu

9689081066

9423821651

9421239533

9420896055

9765569755

9822101582

9923496356

9422389566

9850948737

9422058135

9823716833

9822380819

9824701554

9898272795

2437643

2437643

2437642

2437646

2437640

2437650

2437647

2437654

2437651

2437653

2437648

2437652

2255984

2254972


v v5

67 BRANCHES BRANCH NETWORK

Sr.

No.

Branch Name Address &

Contact No.

Banking Code

MICR/IFSC

Date of

Opening

Premises LockersATM

1. PONDA ATM Ground Floor,

Padmakar Complex,

Sadar, Ponda

Goa - 403 401

2313066,2312077

403415003

YESB0GSCB05

06.06.1964

(

Own Rent Locker

P P

2. MAPUSA

MKT.

Ground Floor,

Khalap Building,

Opp. Municipal Market,

Mapusa, Goa. 403 507

2262212

403415004

YESB0GSCB04

30.07.1964

(

P

3. MARGAO Ground Floor,

Communidade Building,

Opp. Municipal Garden,

Margao, 403601.

2732275,2706012

403415005

YESB0GSCB06

20.09.1964

(

P

4. NANI-

DAMAN

H.No.14/54,Dilip Nagar,

Nani-Daman. 396 210

2254214,2261015

396415251

YESB0GSCB19

07.11.1964

(

P

5. VASCO H.No.14/287(1) Mendes

Mansion, Opp. Hotel

Annapurna, Vasco-da-

Gama, Goa. 403 802.

2512950

403415006

YESB0GSCB17

07.11.1964

(

P

6. PEDNEM Ground Floor, Sahakar

Bhavan, Pernem, Goa.

403 512 2201229

403415007

YESB0GSCB07

02.12.1965

(

P P

P

7. SANKHALIM 1st Floor,"Sankhali

Shopping Centre", Opp.

Kadamba Bus Stand,

Sankhali, Goa. 403 505

2364244

403415008

YESB0GSCB09

20.12.1965

(

P P

8. CURCHO-

REM

1st Floor, Gurudev Man-

sion, Near KTC Bus-

stand, Curchorem-Goa.

403 706 2650681

403415009

YESB0GSCB15

25.02.1966

(

P P

9. CANACONA Ground Floor, Cine

Anandi Bldg., NH-17,

Nagarcem, Canacona,

Goa. 403 702

2643364

403415010

YESB0GSCB14

28.02.1966

(

P P

10. PANAJI Ground Floor, Dayanand

Smruti Bldg., Swami

Vivekanand Road,

Panaji-Goa-403 001

2223456

403415002

YESB0GSCB03

01.07.1971

(

P P


6v v

Sr.

No.


Contact No.

Banking Code

MICR/IFSC

Date of

Opening

Premises LockersATM

11. D'NAGAR,

USGAO

Sanjivani Sugar Factory

Compound, Dayanand

Nagar, Dharbandora,

Goa-403 406.

2344251

403415011

YESB0GSCB12

10.11.1975

(

Own Rent Locker

P

12. VALPOI 410, Ground Floor, Mu-

nicipal Building, Valpoi,

Sattari-Goa. 403506.

2374236

403415012

YESB0GSCB10

17.11.1975

(

P

13. DIU 55 (9-10), 1st Floor,

Gandhi Bhuvan, Bunder

Chowk, Diu 362 520

253172, 252844

362415151

YESB0GSCB20

20.11.1975

(

P

14. LOLIEM-

POLEM

757/2, Loliem,

Canacona, Goa-403 728

2640246

403415013

YESB0GSCB13

28.08.1978

(

P

15. BICHOLIM G/1, Town Centre,

Municipal Complex,

Bicholim- Goa- 403 504

2362010

403415014

YESB0GSCB08

16.11.1978

(

P

16. SANGUEM Ground Floor, New

Municipal Market Com-

plex, Near Sanguem

Bus-Stand,

Sanguem, Goa - 403704

2604228

403415015

YESB0GSCB16

07.04.1979

(

P

P

17. PALEM 1st Floor, Village

Panchayat Building,

Ambegal, Pale,

Bicholim-Goa. 403 105

2372240

403415016

YESB0GSCB11

20.11.1979

(

P

18. VANAKBARA H.No.2735, Main Road,

Opp. Public Health Cen-

tre, Near Bus Stand,

Vanakbara, Diu-362 570

271352

362415151

YESB0GSCB21

08.05.1989

(

P

19. MOTI-

DAMAN

Ground Floor, Bithinani

Complex, Near Daman

Municipal Market,

Moti-Daman. 396 220

2231559

396415254

YESB0GSCB18

15.05.1989

(

P P

20. GHOGHLA 1293/1/2, Ground Floor,

Diu Municipal Council

Building, Panchayat

Chowk, Main Road

Ghoghla, Diu. 362 540.

252225

362415151

YESB0GSCB22

23.02.1990

(

P P

P

P


v v7

Sr.

No.


Contact No.

Banking Code

MICR/IFSC

Date of

Opening

Premises LockersATM

21. SOMNATH 1st Floor, Somnath Plaza,

Somnath, Nani-Daman.

396 210 2242016

396415253

YESB0GSCB23

14.08.1990

(

Own Rent Locker

P

22. ADPOI-

DURBHAT

Shop No.1,2,3 & 14,

Sahakar - Graha, Adpoi

Durbhat, Ponda,Goa -

403 401 2325263

403415017

YESB0GSCB24

14.09.1991

(

P

23. BHIMPORE H.No. 135, Dori Kadiya, Opp.

Govt. High School,Bhimpore,

Nani-Daman. 396 210

2220654

396415251

YESB0GSCB25

21.09.1991

(

24. KORGAO H.No.546, Deulwada,

Korgao, Pedne, Goa.

403 512 2241182

403415018

YESB0GSCB27

02.10.1991

(

P

25. CURTI Goa Dairy Admn. Block,

Goa Dairy Road, Curti,

Ponda,Goa.403 401.

2312522

403415019

YESB0GSCB26

22.10.1991

(

P

26. K.T.C. Shop. No. 2, Kadama

Bus Terminus, Panaji,

Goa. 403 001. 2438782

403415057

YESB0GSCB28

01.03.1992

(

P

P

27. RIVONA Ground Floor, Rivona

Sahakar Bhavan,

Rivona, Sanguem, Goa-

403705 2602214

403415020

YESB0GSCB30

19.11.1992

(

P

28. FUDAM H.No.9/278/3, Ground

Floor, Gangeshwar

Road, Near Garment

Factory, Fudam,

Diu-362 520 252481

362415153

YESB0GSCB31

13.12.1992

(

P

29. HEAD-

OFFICE

Ground Floor

“SAHAKAR SANKUL",

Patto Plaza, EDC Complex,

Panaji, Goa-403 001

2437319,2437320

403415055

YESB0GSCB32

02.02.1993

(

P P

30. KERI 1st Floor, Jaybharat

VKSS Sty. Bldg.,

Satode, Keri, Ponda,

Goa-403401 2340257

403415021

YESB0GSCB33

08.02.1993

(

P

P

P

P

P P

P

P

31. PIRNA Pirna Gram Panchayat Bldg.,

Mestwada, Pirna, Bardez,

Goa- 403 513 2210125

403415022

YESB0GSCB34

16.02.1993

(

P

32. TISCA

USGAO

Ground Floor, Govinda

Building, Tisk Usgaon,

Goa - 403406

2344295

403415023

YESB0GSCB35

14.11.1993

(

P


8v v

Sr.

No.


Contact No.

Banking Code

MICR/IFSC

Date of

Opening

Premises LockersATM

33. MARCEL Ground Floor, Afonso

Appartment, Near Bus

Stand, Marcela, Goa -

403 107 2287685

403415024

YESB0GSCB36

16.03.1994

(

Own Rent Locker

P

34. NEW

VADEM

Shop No.529/A/12,

Radha Building, New-

Vaddem, Vasco-da-

Gama, Goa-403 802

2518964

403415025

YESB0GSCB37

05.05.1994

(

P

35. BETHORA Ground Floor, Goa APMB

Market Subyard Building,

Opp.CMM Factory, Bethora,

Ponda-Goa- 403 401

2332032

403415026

YESB0GSCB38

02.02.1995

(

P

36. CORTALIM Ground Floor, Paxa

Building, Alma Bhat,

Thana, Cortalim, Goa-

403 710 2550518

403415027

YESB0GSCB39

08.02.1995

(

P

37. QUEPEM G-10, Ground Floor,

Raya Rajaram Cham

bers, Behind Petrol

Pump, Quepem, Goa-

403 705 2662196

403415028

YESB0GSCB40

12.05.1995

(

P

38. SHIRODA Kamakshi School

Complex, Shiroda, Goa

- 403 103 2306501

403415029

YESB0GSCB41

12.09.1995

(

P

39. I.D.C. Ground Floor, IDC Office Build-

ing., Mapusa Industrial Estate,

Dattawadi, Mapusa, Goa.

403507. 2253696

403415030

YESB0GSCB42

02.10.1995

(

P

40. NAGZAR H.No.274/2, Nagzar,

Pedne, Goa-403 512

2207174

403415031

YESB0GSCB43

16.10.1995

(

41. MANDREM H.No.147, Madlamaz,

Mandrem, Pedne, Goa -

403 527 2247274

403415032

YESB0GSCB44

16.10.1995

(

P

42. PATRADEVI 64, Patradevi, Torse,

Pedne - Goa - 403 512

2204504

403415033

YESB0GSCB45

06.11.1995

(

P

P

P

P P

P

P P

43. CUNCOLIM Shop. No.A,B & C, Citadel Dr.

Lubi, Opp: Cuncolim Church,

Voddy, Cuncolim, Salcete,

Goa- 403 703 2764049

403415034

YESB0GSCB46

07.11.1995

(

P

44. CANSAULIM 141, Lilawati Niwas, Murdi,

Cuelim, Cansaulim, Goa-

403712 2754737

403415035

YESB0GSCB47

07.11.1995

(

P


v v9

Sr.

No.


Contact No.

Banking Code

MICR/IFSC

Date of

Opening

Premises LockersATM

45. SADA Ground Floor, MPT Shopping

Complex, Headland Sada,

Mormugao, Goa - 403 804

2520338

403415036

YESB0GSCB48

14.11.1995

(

Own Rent Locker

46. AMONA 226, Omkar Bldg.,

Betalwada, Amona,

Bicholim-Goa-403 407

2386075

403415037

YESB0GSCB49

19.11.1995

(

P

47. GAWANE Ground Floor, Gawane

V.K.S. Sty. Building, Gawane,

Sattari,Goa - 406 506.

2378189

403415038

YESB0GSCB51

29.11.1995

(

P

48. MOIRA Ground Floor, Gurugauri

Apartments, Moira,

Bardez, Goa – 403 508

2470804

403415039

YESB0GSCB52

02.01.1996

(

P

49. VEREM H.No.P/7/1/G2,

Mansher, Verem,

Bardez, Goa- 403 114

2402731

403415040

YESB0GSCB53

08.01.1996

(

P

50. TALEIGAO 16/677/3, Ground Floor,

Pragati Homes,

Cardozo-wado, Taleigao,

Goa-403 002 2452667

403415053

YESB0GSCB02

08.01.1996

(

P

51. AQUEM Ground Floor, Raj Vihar Com-

plex, Phase-I, Aquem, Alto,

Margao, Goa 403 601

2714573

403415041

YESB0GSCB54

14.01.1996

(

P

52. BORDA Shop No.1-6, Ground Floor,

Gautam Galaxy Appts,

Borda, Margao,Goa 403602

2733065, 2711402

403415042

YESB0GSCB55

14.01.1996

(

53. CARANZA-

LEM

1919/109/1, Ground Floor,

Bhashyam Chamber, Opp.

Adarsh Colony, Caranzalem,

Goa - 403002 2462117

403415056

YESB0GSCB57

15.04.1996

(

54. VERNA H.No.463, Santbolem,

Pirni, Nagoa-Verna,

Salcete, Goa -403 722

2783043

403415044

YESB0GSCB58

15.04.1996

(

P

P

P

P P

P

P P

55. CALANGUTE Ground Floor, Flito Man-

sion, Ward No.II, Near

Calangute Post Office,

Naikwada, Calangute,

Goa- 403516

2277175

403415045

YESB0GSCB59

24.05.1996

(

P

P P

P

P


10v v

Sr.

No.


Contact No.

Banking Code

MICR/IFSC

Date of

Opening

Premises LockersATM

56 MUNDVEL Shop No.B2, Lavina Enclave,

Opp. Roy Petrol Pump,

Mundvel, Vasco - Goa -

403 802 2515102

403415046

YESB0GSCB60

25.05.1996

(

Own Rent Locker

57. MERCES 2K/89, Ground Floor, Indira

Apartments, Gauche Bhat,

Merces- Goa-403 005,

2448865

403415054

YESB0GSCB61

01.07.1996

(

58. HONDA Shop No.6, Ground Floor, Vil-

lage Panchayat Building,

Honda, Sattari-Goa-403 530

2370375

403415047

YESB0GSCB62

01.09.1996

(

P

59. ZUARI

NAGAR

430, Ground Floor, ST.

Anthony Building., Opp.

Post Office, Sancoale,

Zuari Nagar, Goa -

403726 2555948

403415048

YESB0GSCB63

13.09.1996

(

P

60. MAPUSA-

MAIN

117(18), Ground Floor,

Souza Sanctuary, Ward

No.13, Mapusa-Goa-

403 507 2254212

403415049

YESB0GSCB64

06.06.1997

(

P

61. UPPER

BAZAR

SP.F1(B)2,3,4,5, Prabhu

Towers, Upper Bazar,

Ponda, Goa-403 401

2317242

403415050

YESB0GSCB69

01.11.1997

(

62. PAIGUINIM Block No.1, Rukmini

Niwas, NH-17,

Poinguinim, Canacona

Goa - 403 702 2641511

403415051

YESB0GSCB70

19.11.1997

(

P

63. PARYEM H.No.413, Majikwada,

Poriem, Sattari, Goa-

403 530 2368241

403415052

YESB0GSCB71

25.11.1997

(

64. KACHIGAM Sabri Complex, Zari Causeway

Road, Kachigam, Nani

Daman-396 210 2241249

363415255

YESB0GSCB72

20.11.1998

(

65. A& RD 11- Ground Floor, Junta

House, Panaji Goa -

403 001 2435629

403415059

YESB0GSCB56

21.09.2009

(

P

P

P P

P

66. ORLIM H.No.198/A-S1, Dessonaik

Wado, Near Vithoba Temple,

Orlim, Salcette, Goa -403 724

2744505

403415058

YESB0GSCB74

12.08.2010

(

P

P P

P

P P

P P

P

67. ARAMBOL Shop No. 3, Anita Apart-

ments, Near Panchkroshi

High School, Arambol, Goa-

403524 2242160

403415060

YESB0GSCB75

28.10.2010

(

P


v v11

Sr.

No

Branch

CodeBranch Branch Manager Mobile No.

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

30.

31.

32.

33.

34.

BRANCH EXECUTIVES

PONDA

MAPUSA MARKET

MARGAO

NANI - DAMAN

VASCO

PEDNE

SANKHALIM

CURCHOREM

CANACONA

PANAJI

D'NAGAR

VALPOI

DIU

LOLIEM

BICHOLIM

SANGUEM

PALE

VANAKBARA

MOTI - DAMAN

GHOGLA

SOMNATH

ADPAI-DURBHAT

BHIMPORE

KORGAO

CURTI

KTC

RIVONA

FUDAM

H.O.

KERI

PIRNA

TISK-USGAO

MARCELA

NEW-VADDEM

5

4

6

19

17

7

9

15

14

3

12

10

20

13

8

16

11

21

18

22

23

24

25

27

26

28

30

31

32

33

34

35

36

37

Mr. Girish N.S. Usgaonkar

Mr. Muller Fernandes

Mr. Shekhar G. Naik

Mr. Devang Desai

Mrs. Monica Pereira

Mr. Satyawan Naik

Mr. Sudesh A. Naik

Mr. Nagendra Kudchadkar

Mr. DayanandB Dessai

Mr. P.C. Amonkar

Mr. Vassudev Madkaikar

Mr. Pradeep U. Avkhale

Mr. A.L. Solanki

MR. Premanand B Pednekar

Mr. Rajesh K. Dhond

Mr. Naresh J. Parkar

Mr. Raghoba S. Parab

Mr. Karsan Raja Solanki

Mr. Prakash D. Tandel

Mr. Ketan H. Lakhani

Mr. Kantilal J. Patel

Mr. Sudam N. Naik

Mr. Kalpesh I. Bhat

Mr. Nitin Parab

Mr. Madan P. Kerkar

Mr. Umesh Pilgaonkar

Mr. Ramesh K. Dev

Mr. Rameshlal Mavji Baraiya

Mr. Vishant Mashelkar

Mr. Abhay J. Kerkar

Mr. Anil K. Parab

Mr. Sanjay P. Raikar

Mr. Raghuvir Lotlikar

Mr. Umesh T. Sawant

9822054875

9822147995

9822876909

9824115885

9823994611

9049659011

9823522923

9923169307

9158058963

9881195950

9420897044

9423057766

9824186525

9423814254

9923096106

9404145657

9923267191

9879579731

9898264333

9824363779

9825611822

9822686645

9913550696

9423503409

8698015161

9423316587

9403274693

9824247499

9422450775

8806237600

9404432999

8805165763

9271794795

9890255153


12v v

Sr.

No

Branch

CodeBranch Branch Manager Mobile No.

BETHORA

CORTALIM

QUEPEM

SHIRODA

IDC

NAGZAR

MANDREM

PATRADEVI

CUNCOLIM

CANSAULIM

SADA

AMONA

GAWANE

MOIRA

VEREM

TALEIGAO

AQUEM

BORDA

CARANZALEM

NAGOA - VERNA

CALANGUTE

MUNDVEL

MERCES

HONDA

ZUARINAGAR

MAPUSA MAIN

UPPER BAZAR

POIGINIM

PARYEM

KACHIGAM

A& RD

ORLIM

ARAMBOL

CLEARING HOUSE

(SERVICE BR)

38

39

40

41

42

43

44

45

46

47

48

49

51

52

53

2

54

55

57

58

59

60

61

62

63

64

69

70

71

72

56

74

75

73

Mr. Prashant Gaonkar

Mr.Thomas Barreto

Mr. Pratap c. Tari

Mrs. Nilima Sabnis

Mr. Sanjay Sawant

Mr. Sharad Gad

Mr. Arvind Shetgaonkar

Mr. Satish Bagve

Mr. Rajesh Gauns

Mr. Vishwas Mule

Mr. Tulshidas Naik

Mr. Kamakant Gaude

Mr. Ramnath V. Sawaikar

Mr. Dayanand Mashelkar

Mr. Sanjiv Lingudkar

Mrs. Varsha Dhaimodkar

Mrs. Rosy Fernandes

Mr. Uday Dessai

Mrs. Varsha Zuarkar

Mr. Ratnakar Gaude

Mr. Ashok Salgaonkar

Mr. Santosh Prabhu

Mr. Chandrakant Kinalkar

Mr. Rajendra Dessai

Mr. Pradhyumna Naik

Mrs. Sarita S. Haldankar

Mr. Nirjay Shirodkar

Mr. Subhod Sawant

Mr. Dayanand Gauns

Mr. Amratbhai D. Patel

Mr. Manoj S Phatarpekar

Mrs. Flory Rodrigues

Mr. Ajit P Ghodge

Mr. Shivanand Tendulkar

9890283463

9822380139

9822483425

9765829333

9423319035

9422442988

9923634895

9422394818

9881885011

9689903391

9552067555

9822866914

7507314337

9422387663

9881479889

9421246213

9850470745

9850398617

9860088007

9921881676

9822486948

9822153547

9822155193

9422576253

9823981757

9049935533

9923098109

9822175957

9420356310

9825777969

9422612437

9822253916

9765661618

9049814854

35.

36.

37.

38.

39.

40.

41.

42.

43.

44.

45.

46.

47.

48.

49.

50.

51.

52.

53.

54.

55.

56.

57.

58.

59.

60.

61.

62.

63.

64.

65.

66.

67.


v v13

Notice is hereby given to all members that the 51st Annual General Body Meeting of The Goa State Co-op.

Bank Ltd., will be held on Sunday, the 28th September 2014 at 10.30 a.m. in the meeting Hall at “Sahakar

Sankul”, Head Office, Patto Plaza, Panaji-Goa to transact the following items of business. All members are

requested to attend the meeting.

A G E N D A

1. To read and confirm the proceedings of the Annual General Body Meeting held on 22.09.2013.

2. To consider the Annual Report of the Board of Directors and Audited Statements of Accounts for the

year 2013-14.

3. To consider the Audit Report for the year 2013-14 and compliance thereof.

4. To approve the actual utilization against Budgetary provisions for the year 2013-14 and the Budget

estimate for the years 2014-15 and 2015-16.

5. To consider appointment of an Auditor and fix his remuneration for auditing the Bank's Accounts for the

year 2014-15.

6. To take note of shedding of operations of the Bank at Daman & Diu under Section 17 of the MSCS Act

2002.

7. To take note of chronic default loan accounts of Individuals and dues of liquidated & Registration

cancelled Societies.

8. To take note of Govt. of Goa Scheme for Relief to Mining Ban affected borrowers.

9. Any other subject that may be transacted with the permission of the Chair.

THE GOA STATE CO-OP. BANK LTD.(Scheduled Bank)

“Sahakar Sankul”, H.O. Patto Plaza, Panaji, Goa

51st ANNUAL GENERAL BODY MEETING

N O T I C E

N.B. :

1. In case there is no quorum till 10.30 a.m., the meeting shall stand adjourned and the adjourned meeting shall be held at 11.00 a.m. on the

same day or on such date, time and place as may be decided by the Chairman of the Meeting.

2. Only the authorized Representatives of Member Coop. Societies, Delegates of Individual Members and Representative of “B” Class

Share Holders can attend the meeting.

i) The Member Coop. Societies who have not nominated their Representatives or want to change their earlier nominations, may send

the same alongwith a certified copy of the Resolution authorizing their Representative (only the Chairperson or the Chief Execu-

tive or a Member of the Board/Committee – in terms of Section 38 (3) of The Multi State Coop. Societies Act, 2002), so as to reach

the Bank's Head Office at Panaji by 23.09.2014. The Entry Passes pertaining to Societies for attending the General Body Meeting

will be available at the respective Taluka level Branch upto 26.09.2014 till 3.00 p.m. or at the Head Office or on the day of the

meeting at the entrance of the Venue before entering the Meeting Hall.

ii) The Delegates of Individual members for the meeting shall so attend, in confirmity to Bank's Bye-law No 25(i) i. e. Delegates of

Individual members shall not exceed one fourth of the member of representatives of the Societies. The Delegates shall be issued

passes at the meeting Hall on first come first serve basis after confirmation of attendance of Societies representatives.

3. The printed copies of Annual Report alongwith the Notice is sent to all Member Cooperative Societies, Delegates of Individual Mem-

bers and Representatives of “B” Class Share Holders by Post. However, for information of all the Members, a copy of the Annual

Report is displayed on the Notice Board of the Bank.

4. If any suggestion is to be made or any clarification in respect of Annual Report is required, the same should be sent in writing to the

Bank's Head Office at Panaji so as to reach by 22.09.2014.

By Order of the Board of Directors

( A. A. TANKSALI)

MANAGING DIRECTOR (I/C)

Panaji, 13th September 2014


14v v

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v v15

To,

The Share Holders of

The Goa State Coop. Bank Ltd.

Dear Members,

I have great pleasure in presenting the 51st Annual Report of your Bank with Audited Financial

Statements for the year ended 31st March 2014 and welcoming all of you to this Annual General

Body Meeting on behalf of the Board of Directors.

Before we go to the performance highlights of your Bank during financial year 2013-2014, I take this

opportunity to place before you the General Economic Scenario and performance of Banking Indus-

try in the State of Goa to provide a fair backdrop of Bank's performance.

Overall Economic Scenario & Goan Economy

The adverse impact of economic crisis and slowdown in western countries on Indian economy be-

came quite obvious during the financial year 2013-2014. For the financial year 2012-2013 & also for

the year under report, Indian economy recorded a growth of less than 5%. All sectors have

underperformed and Banking sector has been no exception. The increasing trend of Non-Perform-

ing Assets (NPA) across the sector has become a major worry.

The Goan economy is facing a crisis brought on by the ban on mining activities imposed during the

financial year 2012-2013. Coupled with the general economic slowdown, the ban has adversely

affected various segments of Goan economy.

Inspite of this weakness in Goan economy, the Banking sector in the state has been quite resilient.

Compared to negative growth of 11.6% in deposits during previous financial year, Bank deposits

registered a healthy positive growth of 20.52%. The overall deposits increased from 39661.84

crores as on 31-03-2013 to 47799.82 crores as on 31-03-2014. Credit growth was also positive

with healthy increase of 25.89% over the previous year. The outstanding advances increased from

12490.95 crores to 15725.49 crores as on 31-03-2014.

Performance of the Bank

Even under the stressed economic environment, your Bank has shown robust growth in business. I

am happy to inform that your Bank has registered growth in deposits as well as advances during

financial year 2013-2014. A series of measures were introduced during the previous financial year

as well as the year under report to improve customer service to bring the Bank on the fast track of

growth. The efforts have borne fruit by way of sizeable increase in Bank business.

THE GOA STATE CO-OP. BANK LTD.(Scheduled Bank)

“Sahakar Sankul”, Patto Plaza, Panaji, Goa – 403 001(P.O. Box No. 183)

51st ANNUAL REPORT ON THE FINANCIAL POSITION

OF THE BANK AS ON 31.03.2014


16v v

Bank's total deposits stood at 1433.12 crores, recording a growth of 14.67% over previous year.

The deposits mobilized in the State of Goa amounts to 1088.39 crores which comprises a market

share of 26.40% of deposits mobilized by all the Co-operative Banks in Goa which stood at 4122.07

crores as on 31.03.2014. Market share of all the Co-operative Banks stood at 9%, whereas, your

Bank's market share to total deposits in Goa is 2.27%.

The Daman & Diu region has contributed by mobilizing deposits of 344.73 crores as on 31/03/

2014 compared to 305.63 crores as on 31/03/2013. The share of the region is 24.05% of Bank's

total deposits.

Your Bank's total advances stood at 829.83 crores compared to 636.36 crores as on 31.03.2013,

thereby registering a growth of 30.40%. The total loan advanced by all Co-operative Banks is

2442.14 crores which is 15.52% of total Bank advances in the State. I am happy to announce that

your Bank has advanced 689.67 crores in Goa region with 28.24% market share among Co-

operative Banks and 4.38% market share among all the Banks in the State of Goa.

The total advances in Daman and Diu region stood at 140.16 crores as on 31/03/2014 as com-

pared to 117.14 crores as on 31/03/2013. The share of the region is 16.89% of Bank's total

advances.

Profitability

The high increase in NPA's due to ban on mining activities has adversely affected the profitability of

the Bank. The Bank has an overall exposure of 78.18 crores to mining related advances under

trucks, barges, machinery and other mining related advances. The interest income from the same

is virtually nil. Other advances in the mining areas of the state have also become unproductive. The

NPA provisions have added to the loss factor and the total loss during the year is 11.36 crores and

the accumulated loss stands at 37.29 crores. The Bank is in the process of preparing a branch

wise viability action plan to come out of the situation.

Asset Quality

As already stated above, the ban on mining activity have contributed to mounting overdues and

NPA's for Banks in Goa. Your Bank is no exception. To aggravate the matter further Hon'ble High

Court of Bombay at Goa in its judgment has ruled that the Sales & Recovery Officers do not have

powers towards execution of Arbitral Awards due to non vesting of the said powers under Section

84 of the Multi State Co-operative Societies Act, 2002. The Registrar of Co-operative Societies,

Govt. of Goa has also withdrawn the office orders issued by them in regards to vesting of powers for

execution of awards. Thus it has become much more difficult to arrest the increase in NPA's. How-

ever, to overcome the hindrance, bank has now implemented SARFAESAI Act 2002 and is in pro-

cess of recovering long pending dues. Bank is also contemplating filing of Execution proceedings in

case of arbitral awards before District Court as advised by the Legal Advisor.

Inspite of the adverse scenario for recovery, Bank's gross NPAs as on 31/03/2014 declined to

14.54% as compared to 16.70% at the end of previous financial year.

Priority Sector Lending

As an Apex Financing Agency, your Bank has continued to promote agricultural and allied ad-

vances to the farmers from own costlier funds. The Bank is denied refinance facility by NABARD

due to failure to adhere to the minimum requirement of 4% CRAR. The Bank has implemented the

Govt. of Goa Interest subsidy scheme so that ultimate borrower will get the credit @ 4% up-to 5.00


v v17

lakhs. The Bank has also implemented Govt. of India scheme for 2% interest subvention to Banks

and 3% interest subvention on short term production credit up to 3.00 lakhs to those farmers who

are prompt payers.

The Management has proposed to focus on agriculture and to increase the advances for the Crop

loan, Dairy farming and other allied activities including agricultural land development. Bank targets

to achieve advances under the agriculture sector to the extent of 30% of the outstanding loans by

31.03.2016 to fulfill the vision of green environment in the state of Goa and to increase the produc-

tivity of agriculture sector.

The Bank is providing ST agricultural credit support through Kisan Credit Cards to the needy farm-

ers in a flexible, hassle-free and cost free manner. The Bank has issued 701 Kisan Credit Cards to

individual farmers, of which 619 are covered under Personal Accident Insurance Scheme (PAIS)

and notified crops of 270 individual farmers are covered under National Agricultural Insurance Scheme

(NAIS). The total loan sanctioned under the scheme aggregates to 1907.22 lakhs. The Bank is

charging interest on crop loan @ 5% to PACS & 7% to the ultimate borrower up to 3.00 lakhs.

Bank's advances to High Tech Agriculture in construction of Green Houses/Poly Houses and

Agricultural Production thereof saw a quantum jump during the year under report.

The Bank has already promoted 35 Farmers Club and provided financial assistance to small, mar-

ginal farmers, tenants/ oral lessee etc., under crop loan upto 3.00 lakhs. During the year 2013-

2014 the Bank has disbursed total crop loan of 4623.46 lakhs and term loan of 2193.89 lakhs and

present outstanding under agricultural term loan is to the tune of 7310.97 lakhs, thus recording a

quantum jump of 2591.76 lakhs which clearly denotes your bank's priority to agriculture in Goa.

In order to build up the capacity of PACS and to guide & make them viable as a professional busi-

ness entity in order to further boost agricultural advances and revive the rural credit structure, Bank

has set up a PACS Development Cell at Head Office. The cell is already functional.

Branch Network and Delivery Channels

The Bank is serving its customers through its network of 67 Branches in the state of Goa and Union

Territory of Daman and Diu and offers all types of services to them through its fully computerized

online real time banking facilities. As a scheduled bank, it takes care of remittances of funds by

Demand Drafts, RTGS/NEFT, Electronic Transfers, Inter bank transfers and Collection of cheques

under CTS-2010 system, etc. for its customers.

Advanced Technology Adoption

It is a great pride to the Bank that all the 67 Branches in the State of Goa and Union Territory of

Daman & Diu Region are brought under CBS platform and provided with RTGS/NEFT facility and

also operating on CTS-2010 for its Banking transactions. The core Banking Solutions facilitates

centralized operations like centralized administration, centralized clearing, centralized day begin

and day end, centralized interest application and generation of consolidated financial reports along

with the facility of Inter Branch Transactions (IBT). The Bank has obtained two Issuer Identification

Numbers (IIN) essential for Aadhar Based Payment System(ABPS) and KCC Debit Cards. The

software of the Bank supports Aadhar enablement to ensure the participation in the Direct Benefit

Transfer DBT Scheme of the Government.

Printing of CTS-2010 cheque facility is undertaken by our trained staff as per the actual requirement

of the customers and stationary is being purchased through the Reserve Bank of India empanelled


18v v

vendors for standardization and enhancement of security features in cheque forms.

Your bank now has access to National Automated Clearing House (NACH) for centralized electronic

payment system. ECS debits and credits can now be processed through this mode from across the

country and the process is already functional.

ATM facilities to the customers.

The Bank has installed its own ATM at Junta House A&RD Branch. Also RuPay ATM cards (KCC)

are issued to farmers in Goa in order to facilitate them to avail the Banking facility quickly. Your Bank

is the first State Co-operative Bank in India to issue POS ( Point of Sale) compliant RuPay KCC

Cards.

Micro Finance

Micro Finance has been promoted through Self Help Groups and Swarojgar Credit Cards as well as

Joint Liability Groups. The Bank has 3505 affiliated Self Help Groups out of which 1247 Groups are

credit linked with outstanding loan of 1074.06 lakhs. The Bank has issued 44 Swarojgar Credit

Cards and Financed 143 JLG's out of 216 affiliated Joint Liability Groups.

I am proud to announce that your bank has been issued with appreciation certificate by NABARD for

best performance amongst all banks in the state of Goa in formation and affiliation of Joint Liability

Groups.

Financial Inclusion

Your Bank has taken proactive steps for implementation of financial inclusion package to provide

Banking Services and multiple delivery channels at the door step of the rural community.

The Management of the Bank has got prepared a software to provide Micro ATM i.e. mobile ATM

facilities to its customers at the door step and the proposal has been sent to NABARD for their

approval. The testing of the Micro ATM is successful and the same are scheduled to be launched

very shortly at Valpoi and Sanguem. The mobile ATM will provide facility of payment of Electricity,

Water, Telephone bills and acceptance & payments of Deposits and the account will be updated on

real time basis through advanced technology.

Human Resource Development

The Bank staff have been imparted with training in the areas of General Banking, Loaning, NPA

Management and Risk Management for improving their skills in present competitive environment by

inviting expert faculties from Dr. V. V. Patil Institute of Co-operative Management - Pune, Perfect

MHR Academy Pvt Ltd. – Pune at the Bank's H.O. premises and from Dr. V. V. Patil Institute of Co-

operative Management - Pune at Diu region of the Bank.

During the year 2013-2014, training was imparted to 212 staff including 164 Managers / Officers and

48 clerks were deputed for training on various subjects to the external Institutes at BIRD – Lucknow,

Pune and Mangalore, CAB, RBI – Pune, NIBM – Pune, Indian Institute of Bank Management –

Guwahati - Assam, Vaikunth Mehta National Institute of Co-operative Management – Pune, MITCON

Consultancy and Engineering Services Ltd. – Pune, GIZ-NABARD Rural Financial Institutions

Programme - Mumbai and RBI/NABARD at Margao & Panaji - Goa.

It is proposed to setup in House training centre at H.O. Complex with financial assistance from

NABARD.


v v19

Details of Training Programmes conducted for the year 2013-2014

TRAINING (01/04/2013 to 31/03/2014)

Sr.

No.

Nature ofTraining Received

Duration of Training

From To Period

No. ofStaff

Trained

Name of the Institution

Programme onBusinessCorrespondents

1. 8-Apr-13 10-Apr-13 3 Days 1 CAB, RBI Pune

Legal Aspects ofBanking operation and documentation

2. 15-Apr-13 18-Apr-13 4 Days 1National InstituteFor Rural Bank-ing

Banglore

Programme onIntegrated TreasuryManagement withsimulated Bourse Game

3. 26-Apr-13 5-May-13 10 Days 1NIBM

Pune

Programe on effectiveBranch Management fo-cussing on Banking,Risks, Business Strat-egy & HR Skills

4. 13-May-13 17-May-13 5 Days 2Indian Institute ofBankManagement

Guwahati

Advance Credit Man-agement & Legal Aspect5. 18-May-13 18-May-13 2 Days 34

Dr. VVPatil ICM,Pune & TheGSCB Ltd.

HO, Panaji

Data Center ConvergedConference6. 23-May-13 23-May-13 1 Days 1

Data Center Dy-namics Pvt. Ltd.

JW Marriott,Mumbai

Advance Credit Man-agement & Legal Aspect7. 25-May-13 26-May-13 2 Days 36

Dr. V V Patil ICM,Pune & TheGSCB Ltd.

HO, Panaji

Programmes on Informa-tion Technology & Pro-ductivity Changes in Co-op. Banks with special fo-cus to Core Banking

8. 6-June-13 8-June-13 3 Days 1 Vaikunth MehtaNICM

Pune

Advance Credit Man-agement & Legal Aspect

9. 15-June-13 16-June-13 2 Days 27Dr. V V Patil ICM,Pune & TheGSCB Ltd.

Diu

Programme onFinancial Inclusion

10. 17-June-13 19-June-13 3 Days 4BIRD, Lucknow Calangute-

Goa

Programmee onUpscaling Group ModeFinancing (SHG / JLG)

11. 15-July-13 18-July-13 4 Days 1BIRD /NABARD, Manglore

Programme on CyberSecurity in Bank

12. 23-July-13 27-July-13 3 Days 1Nation Institute ofBank Management

Pune

Advance Credit Man-agement & Legal Aspect

13. 27-July-13 28-July-13 2 Days 41Dr. V V Patil ICM,Pune & The GSCBLtd.

Daman


20v v

Sr.

No.



From To Period

No. ofStaff

Trained


Workshop on Invest-ment Portfolio Manage-ment for Co-operativeBanks

14. 29-Jul-13 1-Aug-13 4 Days 1 BIRD /NABARD, Manglore

Capacity BuildingProgrammee onFinancial Inclusion

15. 17-Sep-13 20-Sep-13 4 Days 1 BIRD /NABARD, Manglore

ACABC Scheme StateLevel workshop for sen-sitization of Bankers2013-14

16. 25-Sep-13 25-Sep-13 1 Days 1NABARD, RO,Panaji

RDC House,Panaji

Project Appraisal,Enterpreneurial Assess-ment & Financing ofMSMEs

17. 21-Oct-13 25-Oct-13 5 Days 2 BIRD /NABARD, Manglore

Management Develop-ment Programmee onDGMs / GMs of SCBs /DCCBs

18.Days 1

Capacity BuildingProgrammee onFinancial Inclusion

19. 4 Days 2

Programmee on up-scaling Group Mode ofFinancing (SHG / JLG)

20.

Programme on AgriCredit Products & AgriBusiness Financing

21. 20-Nov-13 22-Nov-13 3 Days 1CAB, RBI, Pune Pune

Programme on LegalAspects of Banking

22.

Programmee onUpscaling of GroupMode of Financing

23.

Workshop on Process &Procedures for Issu-ance & Management ofRUPAY Debit & RUPAYKisan Cards

24. 25-Nov-13 25-Nov-13 1 Days 1GIZ -NABARDRural FinancialInstitutionsProgramme

IndianInstituteof Banking &Finance (IIBF),Mumbai

Selection of Consultantsand Client-consultantAgreement

25. 17-Dec-13 17-Dec-13 1 Days 4MITCONConsultancy andEngineeringServices Ltd.

Pune

21-Oct-13 25-Oct-13 5 BIRD /NABARD, Manglore

28-Oct-13 31-Oct-13 BIRD /NABARD, Manglore

4 Days 228-Oct-13 31-Oct-13 BIRD /NABARD, Manglore

4 Days 26-Nov-13 9-Nov-13 BIRD /NABARD, Manglore

4 Days 26-Nov-13 9-Nov-13 BIRD /NABARD, Manglore


v v21

Sr.

No.



From To Period

No. ofStaff

Trained


Programme onUpscaling Group Modeof Financing (SHG/JLG)

26. 6-Jan-14 9-Jan-14 4 Days 1 BIRD / NABARD, Manglore

Working WomenEmpowermentProgramme

27. 18-Jan-14 18-Jan-14 1 Days 35

Perfect MHRAcademy Pvt Ltd.- Pune

HO, Panaji

Programme on SMEFinancing, Financial In-clusion and PrioritySector Lending

28. 3-Feb-14 3-Feb-14 1 Days 4 RBI / NABARD, Panaji

SensitizationProgramme onGrameen BhandaranYojana,other GOISchemes, SHG-BLPand JLGs

29. 26-Feb-14 26-Feb-14 1 Days 4 NABARD, SouthGoa Margao

Margao

Programme on SME Fi-nancing, Financial Inclu-sion and Priority SectorLending

30.Days 311-Mar-14 11-Mar-14 1 RBI / NABARD, Panaji

TOTAL 215

NB: Actual trained Staff members during 2013-2014 are 212.

Corporate Social Responsibility

As a part of Corporate Social Responsibility, your Bank has started taking several initiatives.

The Bank has already implemented Janashree Bima Yojana (JBY) Scheme of Life Insurance Cor-

poration of India, a death-cum-disability Insurance Scheme for the members of all Women Self Help

Groups credit linked to the Bank and during the year the Bank has covered 1037 beneficiaries.

As an additional benefit under the Janashree Bima Yojana Scheme, the Bank has claimed the schol-

arship for the Academic Year 2013-2014 for Children studying in 9th to 12th Standard including ITI

Courses, and whose parents are covered under the said Scheme.

Accordingly Life Insurance Corporation of India approved the Scholarship claim proposal of 77 stu-

dents for the Academic year 2013-2014 and remitted 1200/- each towards Scholarship amount

under Shiksha Sahayog Yojana.

Corporate Governance:

The Bank has been consistent by endeavoring to follow good corporate governance practices through

transparency, accountability, integrity and best customer service.

The Board had constituted various committees to provide specific and focused governance in the

important functional areas and oversee the affairs of the Bank.


22v v

The Committees are as under

1) Executive Committee

2) Staff Committee ( HR Committee)

3) Purchase Committee

4) Internal Audit Committee

5) Investment Committee

6) Recovery Committee.

PERFORMANCE HIGHLIGHTS – 2013-2014

1. Total Business of the Bank increased from 1886.11 crores as on 31.03.2013 to 2262.95

as on 31.03.2014, registering growth of 19.98% during the year.

2. The loans and advances of the Bank increased from 636.36 crores as on 31.03.2013

to 829.83 crores as on 31.03.2014, registering a growth of 30.40% during the period.

3. Credit Deposit Ratio stood at 57.90%as at the end of March, 2014.

4. The paid up Share Capital of the Bank increased from 22.68 crores as on 31.03.2013 to

34.11 crores as on 31.03.2014, registering a growth of 50.40% during the period.

5. The Deposit of the Bank increased from 1249.75 crores as on 31.03.2013 to 1433.12

crores as on 31.03.2014, registering a growth of 14.67% during the period. Further the low

cost deposit formed 44.02% of total deposit as on 31.03.2014.

6. Total income of the Bank increased from 128.17 crores as on 31.03.2013 to 131.25 crores

as on 31.03.2014, registering growth of 2.40% during the period.

7. Interest income of the Bank increased from 124.95 crores as on 31.03.2013 to 126.84

crores as on 31.03.2014, registering growth of 1.51% during the period, inspite of non recov-

ery of interest from mining sector related advances.

8. The Investment of the Bank increased from 605.64 crores as on 31.03.2013

to 626.45 crores as on 31.03.2014,registering growth of 3.44% during the period.

9. Percentage of recovery to demand stood at 74.24% as on 2013-14.

10. CRAR stood at 2.20% as on 31.03.2014.

11. Return on assets (ROA) is 8.05%.

12. The Bank disbursed highest ever Agricultural Crop Loan of 46.23 crores as compared to

35.59 crores during last financial year.

13. The accumulated loss as on 31.03.2014 stood at (-)37.29 crores.

14. The per staff business improved from 2.67 crores as on 31.03.2013 to 3.31 crores as on

31.03.2014.


v v23

Operating Ratios :

Sr. No. ParticularsAs on

31.03.2013

As on

31.03.2014

Interest income to working funds

(int. on loans & invest.)

Non-Interest income to working fund

Total yield to working funds(1+2)

Interest cost to working fund

(int. on deposit & Borr.)

Gross Financial Margin(3-4)

Cost of management to working fund

Other special Expenditure

Risk cost

Net Margin {5-(6+7+8)}

1.

2.

3.

4.

5.

6.

7.

8.

9.

8.86

0.23

9.09

5.68

3.41

2.74

0.03

0.05

0.59

7.81

0.27

8.08

5.91

2.17

2.69

--

0.18

-0.70

Averages Costs & Returns:


31.03.2013

As on

31.03.2014

Average cost of deposits

Average cost of borrowings

Average cost of deposits & borrowings

Average yield on loans

Average yield on investments

Average yield on loans and investments

1.

2.

3.

4.

5.

6.

5.66

0.00

5.66

5.63

3.20

8.83

6.10

0.00

6.10

4.95

3.11

8.06

4. KEY FINANCIAL INDICATORS OF THE BANK AS ON 31.03.2014

a) Financial progress:

Sr. No. Particulars

As on

31.03.2013

(Rs.)

As on

31.03.2014

(Rs.)

PAID UP SHARE CAPITAL

RESERVES (Excl. O.I.R.)

OWNED FUNDS

DEPOSITS

BORROWINGS

INVESTMENT INCLUDING CALL

& SHORTB TERM DEPOSIT

LOANS AND ADVANCES

NET PROFIT

1.

2.

3.

4.

5.

6.

7.

8.

22.68

85.60

82.34

1249.75

0.00

605.64

636.36

-25.94

34.11

82.73

79.37

1433.12

0.00

626.45

829.83

-37.29

Percentage

Increase /

Decrease (% )

50.40

-3.35

-3.61

14.67

0.00

3.44

30.40


24v v

The other details of the Financial position of the Bank is as under:

1. The State Government has contributed 1.00 crore to share capital during the year and

the Government share capital stood at 2.34 crores as on 31.03.2014.

2. Bank's Reserve Fund and other Reserves stood at 86.99 crores as on 31.03.2014.

3. Bank's SLR Investments which stood at 336.52 crores as on 31.03.2013, increased to

381.60 crores as on 31.03.2014.

4. Bank's Borrowings were nil during the year under report.

The details of Loans & Advances stood as follows:

Demand

ST Agriculture

ST Non Agriculture

MT Agriculture

MT Non Agriculture

LT Agriculture

LT Non Agriculture

CCC/Pledge/HCC Etc

Gold

URBAN LOANS

Short Term

Medium Term

TOTAL

Loan Against Term Dep./

NSC/Pigmy/IBP

Overdues

to

Demand %

Overduesto

Outstand-ing %

Amount

Overdue

AmountOutstand-

ing

Amount

DisbursedType of Loans

1103.07

336.86

1936.87

25932.70

257.02

9728.54

9852.10

2963.77

3520.39

0.00

2256.26

57887.58

1188.67

495.13

2260.41

44929.35

795.21

16045.92

7876.65

1509.30

3066.68

0.00

4815.83

82983.15

5.85

88.22

42.41

4549.40

220.05

352.13

1707.63

0.10

52.30

0.00

885.58

7903.67

0.49

17.82

1.88

10.13

27.67

2.19

21.68

0.01

1.71

0.00

18.39

9.52

95.43

13.39

9.71

26.50

46.48

14.42

27.49

0.05

2.84

0.00

37.98

24.89

6.13

659.00

436.66

17166.87

473.40

2441.35

6211.76

184.63

1843.33

0.00

2331.86

31754.99

* Amount overdue under liquidation societies. 373.61

8277.28

(Amt. in Lakhs)


v v25

PROGRESSIVE TREND FOR LAST 10 YEARS

2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

350.66

377.97

331.49

392.87

494.64

555.58

587.96

624.39

636.36

829.83

Years Advances (Amt. in Crores)

Loan Disbursed to Various Types of Societies during financial year 2013-14

CONTRIBUTION OF SHARE CAPITAL FROM SHARE HOLDERS FOR LAST TEN YEARS

2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

7.42

7.85

9.41

10.83

13.39

16.33

18.51

20.62

22.68

34.11

Years Advances

Opening

balance as

on

01.04.2013

Disbursed

during the

Year

Recoveries

during the

Year

Outstanding

as on

31.03.2014

PACS/V.K.S.S.Sty

Salary Earners Societies

Consumers Societies

Sanjivani Sahakari Sakhar Kharkhana

SHG Co-op. Credit Societies

Total

2275.23

9424.98

701.52

987.74

1203.50

14592.97

14911.72

14911.72

1557.39

1777.01

818.81

23458.69

14397.92

5702.43

1835.18

1939.74

948.25

24823.52

2789.03

8116.31

423.73

825.01

1074.06

13228.14

Particulars


26v v


2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

767.64

821.16

794.89

804.06

870.44

1090.37

1198.81

1362.93

1409.93

1624.11

YearsWorking

Capital (Amt. in Crores)

Reserves :

Sr. No. Particulars

Position

as on

31.03.2013

Position

as on

31.03.2014

Statutory Reserve Fund

Reserves for unforeseen losses

Agricultural credit Stabilization

Fund

Others (Exl. O/D Int. Res.)

TOTAL

1.

2.

3.

4.

4.58

0.59

2.30

78.13

85.60

4.78

0.59

2.30

75.06

82.73

Percentage

Increase /

Decrease (% )

4.37

0.00

0.00

(-3.93)

(-3.35)

(Amt. in Crores)

Share Capital

Sr. No. Particulars

Position

as on

31.03.2013

Position

as on

31.03.2014

State Government

Co-op. Institutions

Individuals

TOTAL

1.

2.

3.

1.34

5.01

16.33

22.68

2.34

6.75

25.02

34.11

Percentage

Increase /

(% )

74.63

34.73

53.21

50.40

(Amt. in Crores)


v v27

Deposits :

Sr. No. Particulars

Position

as on

31.03.2013

Position

as on

31.03.2014

Saving Bank Deposits

Current Deposits

Term Deposits

TOTAL

1.

2.

3.

433.78

123.12

692.85

1249.75

495.03

135.85

802.24

1433.12

Percentage

Increase /

Decrease (% )

14.12

10.34

15.79

14.67

(Amt. in Crores)


2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

575.11

645.90

652.95

663.46

754.11

958.99

1044.65

1160.27

1249.75

1433.12

Years Deposits (Amt. in Crores)

Investments :

Sr. No. Particulars

Position

as on

31.03.2013

Position

as on

31.03.2014

Government Securities

Trust Securities

Debentures & Bonds

Investment in Shares -approved

-Non approved

Call and short Term Deposit

Total

1.

2.

3.

4.

5.

336.52

0.00

6.51

0.01

0.05

262.55

605.64

381.60

0.00

6.51

0.01

0.05

238.28

626.45

Percentage

Increase /

Decrease (% )

13.40

0.00

0.00

0.00

0.00

-9.24

3.44

(Amt. in Crores)


28v v


2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

234.01

311.15

352.62

284.87

291.97

430.60

494.67

527.28

605.64

626.45

Years Investments(Amt. in Crores)

INCOME AND EXPENDITURE – OPERATIONAL RESULTS

a) Income :


31.03.2013

Interest on Loans and Advances

Income on Investment

Misc. & Other Income

TOTAL

1.

2.

3.

79.69

45.26

3.22

128.17

As on

31.03.2014

77.85

48.99

4.41

131.25

(Amt. in Crores)

b) Expenditure


31.03.2013

Interest on Deposit

Interest on Borrowing

Estab. & Conti

Provisions

TOTAL

1.

2.

3.

80.07

0.00

38.47

0.90

119.44

As on

31.03.2014

95.95

0.00

41.47

5.19

142.61

(Amt. in Crores)


v v29

FINANCIAL POSITION OF THE BANK AT A GLANCE

As on 31.03.2014

Authorised Share Capital

Paid up Share Capital

Total Reserves (incl. overdue int.reserve

Investment

Total Deposit

Borrowings

Loans & Advances

Cash in hand & with other Banks

Working Capital

Accumulated loss for the year 2013-14.

1.

2.

3.

4.

5.

6.

7.

8.

9.

10

10000.00

3411.30

8699.10

62644.73

143312.25

0.00

82983.15

933.50

162411.04

-3729.37

Sr. No. Particulars Amount

(Amt. in Lakhs)

Customer Service

Your Bank has always accorded top priority to Customer Service and would tirelessly work towards

providing best service to its customers. The Bank has put in place Customer Grievances Redressal

System. The bank has appointed an official each for South Goa and North Goa designated as

Financial Literacy Officer. The officer will soon start conducting Financial Literacy camps for guid-

ance of bank's customers.

Shedding of Operations of Daman & Diu

The Reserve Bank of India has been persistent with your bank to shed its operations from Daman

and Diu region. Bank is in receipt of communication dated 22/11/2013 from Dy. Director (Coop),

Govt. of India, Ministry of Agriculture and Co-operation, Krishi Bhavan, New Delhi, on behalf of The

Central Registrar of Coop. Societies intimating the bank that the reorganization of the bank and

transfer of assets and liabilities (division of the bank) shall be as per procedure enumerated under

Section 17 of the Multi State Co-op Societies Act 2002.

The Bank is in touch with the Administrator of Union Territory of Daman and Diu in regards to the

same and subsequently informal meeting has taken place on 11th March 2014. The Bank was

represented by the undersigned and the then Secretary to the Board. During the course of the

meeting it was decided that a formal meeting would be called by the Administrator of the Union

Territory of Daman & Diu for which RBI, NABARD, The Registrar of Co-operative Societies, Govt.

of Goa, The Assistant Registrar of Coop Societies Daman & Diu would be invited to deliberate in the

matter. The major hindrance in the matter is due to the fact that there is no co-operative entity in the

Union Territory of Daman and Diu to take over the assets and liabilities that may be shed by your

Bank.

The formal meeting was convened on 14th July 2014 at Moti Daman but, had to be postponed due

to preoccupation of RBI, NABARD and Govt. of Goa representatives. The Administrator of Union


30v v

Territory of Daman and Diu has been requested to convene a fresh meeting in the matter with due

confirmation from them.

Development Action Plan and Monitorable Action Plan

Your bank was not complying to the provisions of Section 11(1) of the Banking Regulation Act, 1949

(AACS) due to negative net worth since the year 2005 and NABARD/RBI were constantly instruct-

ing the bank to submit its DAP indicating the ways and means to come out of the provisions of the

said section.

I am pleased to inform that your Bank has prepared DAP, setting benchmark performance indica-

tors in improving net worth of the Bank for the period up to the year 2015, so as to comply with the

provisions of Section 11(1) of the Banking Regulation Act, 1949.

Subsequently, bank has also prepared the Monitorable Action Plan towards a monitored implemen-

tation of the DAP as well as enhanced targets included in the MAP to keep abreast with statutory

requirements.

Monitorable Action Plan has underlined several measures as follows :

A. Augmentation of Paid-up Share capital.

B. Mobilization of Deposits.

C. Diversification of Advances Portfolio.

D. Increasing membership and borrowing member coverage.

E. Recovery of Overdues.

F. Management of Funds

The targets in Annual Monitorable Action Plan (MAP) are further split into quarterly and monthly

targets for regular review at the Bank level. Besides this, MAP review Committee constituted by RBI,

consisting of Regional Director RBI, General Manager NABARD and Registrar of Co-operative So-

cieties, Goa takes regular review of achievement of targets on various performance indicators pro-

jected by the Bank. Successful implementation of DAP will enable the Bank to achieve important

licensing criteria for a CRAR of 7% by 31st March 2015.

The Banking growth prospects are interwined with the growth of the Goan Economy. The challenge

for the revival of the Goan Economy is to restore mining operations. The steps taken recently by the

State Government in clearing the bottlenecks should put Goa on upward growth trajectory. I am

confident that the Bank's business, with successful implementation of Monitorable Action Plan will

grow by about 15% to 20% in financial year 2014-2015.

The Bank is gearing up by strengthening the Risk Management System to improve the Assets rating

which in turn will help the Bank to achieve CRAR of 7% by 31st March 2015.

In the meanwhile, I am happy to inform you that with the tireless efforts of the Board of Directors,

staff and from members contributing to Bank's share capital, your bank has successfully complied to

the provisions of Section 11(1) of the Banking Regulation Act, 1949.

As per NABARD inspection report, the real and exchangeable value of paid up Share Capital and

Reserves of the bank stood at (+) 495.57 lakhs as on 31/03./2013 and hence the bank has been

declared to have recomplied to the provisions of Section 11(1) of B.R.Act, 1949 (AACS) and 42 (6)

(a) (i) of the RBI Act, 1934 which were not being complied since 31st March 2005.


v v31

Future Plans:1. Branch Expansion :

Your Bank has plans to open 10 new branches of the Bank at Assonora, Netravali, Benaulim,

Dharbandora, Porvorim, Siolim, Banastarim, Mardol, Seraulim and Collem in order to tap more busi-

ness and reach out to the Goan people.

2. ATM Network :

The Bank intends to spread its ATM network all across the state and U.T. of Daman & Diu to render

quick and efficient service to it's customers. With this in view, it is proposed to have a tie-up with

PRIZM PAYMENT SYSTEMS for availing ATM facility under RBI approved WHITE LABEL ATM

FACILITY.

3. Financial Inclusion :

The Bank is in process of finalizing its financial inclusion package for rendering door step service to

its customers in every remote corner of the state with the help of Micro ATMs. The main aim is to

provide the benefits of Dayanand Samajik Suraksha Yojna and Graha Aadhaar Yojna and other

Govt. benefit schemes to the beneficiaries at the Village level where there is no Banking facility. The

recently introduced JAN DHAN YOJANA of the Govt. of India, shall be taken up for implementation

with the help of Micro ATMs.

4. Human Resources Development Center :

The Bank proposes to have a full fledged training center for its staff with the help of NABARD. This

will enable the bank to constantly update the banking knowledge of its staff so as to help them to

discharge their duties more efficiently in the ever competitive banking sector. Other co-operative

institutions in the state shall also be able to benefit from such training center. The faculty shall be

invited from various institutions imparting Banking and Co-operative sector related education.

5. Financing in Agricultural sector :

The Bank with the help of Govt. of Goa agencies, intends to reach out to the vast majority of farmers

across the state and by issuing RuPay Kissan Credit Cards, enable them to avail quick and even

door step banking facility under Bank's financial inclusion plan.

6. Plans for fee based income generation :

The Bank with a view to generate fee based income, intends to have corporate agency tie-ups for

Life Insurance and General Insurance. The arrangements with Kotak Mahindra Life Insurance Co.

Ltd, and ICICI Lombard General Insurance Co. Ltd. are in advanced stage of finalization.

7. NRI Deposit Business :

The Bank has already approached RBI for granting of NRI deposit license which will enable the bank

to enhance its deposit base considering the huge potential in this area.

8. Advance Technology :

Bank is in process of introducing Mobile Banking and Internet Banking facilities for better

customer service.

9 . Central Control Room :

All Branches are being connected to Central Control Room at Head Office by C.C. T.V. This

will facilitate a constant supervision for quick and efficient customer service.

BRIEF ON OTHER MATTERS

1. STAFF WELFARE :

The Bank has introduced a Medical Insurance Policy for the staff members and their family with a


32v v

uniform annual cover of 1.50 lakhs. This policy would take care of our staff members health

insurance needs even after their retirement, upto the age of 85. This will be a small token for their

efforts in the development of the Bank.

2. INCOME TAX :

Before moving to acknowledge the contribution made by all stake holders and other agencies, I take

this opportunity to inform all share holder depositors that the Board of Directors has every intention

to protect interest of our members. During the year under report, Income Tax Authorities have is-

sued notices to all Co-operative Banks with their Head Office in Goa in regards to non deduction of

tax at source, on interest paid and credited exceeding 10000/- on time deposits of members during

a financial year. Though, other Co-operative Banks have complied, we are of the firm belief that our

share holder depositors clearly fall within the ambit of exemption as clarified in the Central Board of

Direct Taxes (CBDT) circular no. 9/2002 dated 11/09/2002 and have challenged the orders of ITO

(TDS) Panaji, right upto the Chairman, Central Board of Direct Taxes.

ACKNOWLEDGEMENT

The Board of Directors expresses sincere thanks and deep gratitude to the Hon. Chief Minister and

Hon. Minister for Co-operation, Govt. of Goa for their valued support to the Bank, the Ministry of

Agriculture & Co-operation, Govt. of India and the Administrator of Daman and Diu for their kind co-

operation & guidance.

The Board of Directors is also grateful to RBI, NABARD, NCUI, NAFSCOB, NACARDBF, The Cen-

tral Registrar of Co-operative Societies, Registrar of Co-operative Societies- Govt. of Goa and Asst.

Registrar of Co-operative Societies, Govt. of Daman & Diu for their valued co-operation and guid-

ance.

We are also thankful to NPCI and YES Bank for their valued co-operation and guidance.

The Board of Directors also put on record their appreciation for the diligent and efficient services

rendered by all staff members.

Above all, the Board of Directors have sincere regards and gratefully acknowledge the valuable co-

operation and patronage received from all Co-operative Societies and valued customers and Share

Holders of the Bank, which has been a fundamental strength behind the success and endurance of

the Apex State Co-operative Bank. We will be failing in our duty if we do not acknowledge the

support and co-operation extended by all of you.

I am sure that the hard work of our team and support of the entire stakeholder community will take

The Goa State Co-operative Bank to greater heights of banking excellence in the State of Goa by

adopting all type of facilities and advanced technology.

In this journey of your Bank, we expect same kind of co-operation and patronage in future, from our

share holders, stake holders and all concerned authorities for strengthening the financial base and

for smooth functioning of the Bank, to enable us to provide best services to the people of Goa,

Daman & Diu.

Thank you,

For the Board of Directors

Sd/-

(ULHAS B. PHAL DESSAI)

CHAIRMAN

the goa state co-operative bank ltd. -...

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