2 Clr Setup final REV - VVCC Bank Annual Report 2016-17.pdf · Auditor's Report 3 Don’t let a hard lesson harden your heart. The Vallabh Vidyanagar Commercial Co-operative Bank

OUR VISION

OUR MISSION

VVCC Bank's name to be synonymous with Trust, Efficiency and Security........................................... (Achieved)

To be among the most admired CO-OPERATIVE BANK in our vicinity area........................................... (Achieved)

Business to grow at a Compounded Annual Growth Rate (CAGR) of 20%.

NPAs to be reduced to 2-3% of net advances.......................................................................................... (Achieved)

Lending rates to be brought in parity with the rates of commercial banks................................................ (Achieved)

To have a network of 5 branches within the operational area, by 2020.

To be perceived as a preferred banker by depositors, small businessmen and small scale industries.... (Achieved)

To give full customer satisfaction.

To emerge as the Model Bank in Co-operative sector,

equipped with cutting edge technology,

providing world class customer services and

maintaining the highest standards of professionalism and integrity.

The Vallabh Vidyanagar Commercial Co-operative Bank Limited

V V C CBANK LIMITED

46 ANNUAL REPORT

2016-2017

th

The Vallabh Vidyanagar The Vallabh Vidyanagar

Commercial Co-operative Bank Ltd.Commercial Co-operative Bank Ltd.

The Vallabh Vidyanagar

Commercial Co-operative Bank Ltd.

th46 Annual Report 2016-17th46 Annual Report 2016-17th46 Annual Report 2016-17

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2

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“p¢^:-

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46 du kp^pfZ kcp A„N¡ Ål¡fps

The richest man is not he who has the most, but he who needs the least.





The richest man is not he who has the most, but he who needs the least.

fuTh® b¢L$ Ap¡a BÞX$uep “u DEAF–2014 ep¡S>“p A„N¡ ANÐe“u Ål¡fps

b¢L$“p sdpd N°plL$p¡“¡ S>Zphhp“y„ L¡$ fuTh® b¢L$ Ap¡a BÞX$uep“u DEAF–2014 (Depositors Education and Awareness

Fund) ep¡S>“p A„sN®s S>¡ Mps¡v$pf“y„ L$p¡B‘Z âL$pf“y„ Mpsy R>¡‰p v$i hj®’u B“ Ap¡‘f¡V$uh fl¡g lp¡e s¡hp MpspAp¡“u S>dp fL$d s¡ Mpsy

b„O L$fu“¡ fuTh® b¢L$ Ap¡a BÞX$uep, dy„bB Mps¡ dp¡L$gu v$¡hpdp„ Aph¡ R>¡. S>¡ fL$d Mps¡v$pfp¡“¡ S>ê$fu v$õsph¡Å¡ kp’¡ L$g¡Bd L$fhp’u ‘fs dmu

iL¡$ R>¡.

Ap’u v$f¡L$ Mps¡v$pfp¡“¡ k|Q“p Ap‘hp“u L¡$ gp„bp kde’u L$p¡B‘Z âL$pf“u g¡hX$-v$¡hX$ rh“p “p MpspAp¡ A’hp L¡$.hpe.ku. “p

v$õsph¡Å¡ (CKYCR - “p “hp r“edp¡ dyS>b) S>dp “p L$fpìep lp¡e s¡hp MpspAp¡dp„ L¡$.hpe.ku. v$õsph¡Å¡ s’p S>fyfu rhNsp¡ Ap‘u“¡

s¡hp MpspAp¡dp„ g¡hX$-v$¡hX$ iê$ L$fhu.


Auditor's Report

3

Don’t let a hard lesson harden your heart.





We are appointed as statutory auditors for your bank for the Accounting Year 2016-17 by the Registrar of co-

operative societies vide letter No. ASN/2460/J-4/300/2016 dated 08.07.2016. As per the conditions of the order we

have completed the audit on the basis of information provided by the bank. After auditing the bank's Balance

Sheet, Profit and loss account and other accounts we submit our report as under:

a. The Board of Directors has conducted the working of the bank as per bye-laws and also provisions of

cooperative law / rules. The Board of directors has followed the rules and regulations.

b. The Board of Directors has carried out the instructions of RBI, given from time to time

c. The books of accounts and accounting system are maintained as required under provisions of co-operative

law and also the instructions of RBI.

d. Bank's balance sheet reflects the true and fair view of the financial position. The figures of capital, assets,

investments and profit / loss show true position.

e. Bank has properly maintained SLR and CRR standards.

f. Bank has made proper classification of NPAs as per RBI guidelines and sufficient provisions are made for the

same.

g. The advances allowed to members of the board of directors or their relatives are as per RBI guidelines and in

terms of provisions of co-operative law. All such advances are recoverable.

h. The directors or other office bearers are not disqualified for their position.

i. There is no violation of any law in cases of one time settlement of advances during the year 2016-17.

j. There is no violation of any law in cases of compromise settlement of dues through courts during the year

2016-17.

k. In our opinion and to the best of our information and according to the explanations given to us and shown by

the books of the bank, said accounts, and further read together with Significant Accounting Policies and

Notes to Accounts, give a true and fair view. st

(i) In case of the Balance Sheet, of the full and fair state of affairs of the bank as on 31 March, 2017st (ii) In case of Profit & Loss Account, of the true balance of profit for the year ended on 31 March , 2017

Audit Class : 'A' Name : M/s. Nirmal Kothari & Co.Date : 17-04-2017 Designation : Chartered Accountant Place : Anand Panel No. : 409

The Vallabh Vidyanagar Commercial Co-operative Bank Ltd.


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hprj®L$ Al¡hpgdp„ âõsys R>¡.

“ap“u apmhZu

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Ap‘hp“u s’p “uQ¡ dyS>b Qp¡¿Mp “ap“u apmhZu L$fhp“u cgpdZ L$f¡ R>¡.

Q¡fd¡“îu “y„ r“h¡v$“

4

The ultimate source of a happy life is the attention we pay to our inner values. ~ Dalai Lama






5

Being honest may not get you a lot of friends but it’ll always get you the right ones.





spfuM 31/03/2017 “p¡ “ap¡ ê$p. 99,00,000.00 (‘¡V$pr“ed 66(A) A“¡ 66(b) dyS>b) apmhZu

rhNs ê$p. ‘¥kp

66 (A) dyS>b

1 qfTh® a„X$ Qp¡¿Mp “ap“p 35.00% 34,65,000.00

2 qX$huX$ÞX$ i¡fc„X$p¡m“p 10.00% 20,66,354.00

3 qinZapmp¡ Qp¡¿Mp “ap“p 2.00% 1,98,000.00

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5 Mfpb A“¡ iL$d„v$ g¡Zpa„X 15.00% 14,85,000.00

6 ApB.A¡a.Apf. (Apf.bu.ApB. dyS>b) 18,82,000.00

kfhpmp¡ 92,94,354.00

D‘fp¡L$s apmhZu bpv$ bpL$u “ap¡ 6,05,646.00

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Apcpf v$i®“

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Aph“pf hjp£ b¢L$“u âNrsdpV¡$ kp“yLy$m b“u fl¡, b¢L$ Ap‘Zp kdpS>, kcpkv$ rdÓp¡ s’p N°plL$p¡“u h^ydp„ h^y k¡hp L$fu iL¡$, s¡ dpV¡$ ‘fd L©$‘pmy ‘fd¡ðf kp¥“¡ iqL$s Ap‘¡ s¡hu rh“d° âp’®“p kp’¡ rhfdy„ Ry„.

Ap‘“p¡ rhðpky,

qL$fZcpB A¡d. ‘V¡$g -C. A.

Q¡fd¡“


31-03-1 31-03-1 31-03-16 CAPITAL & LIABILITIES - c„X$p¡m s’p v$¡hy„ 7 7

Rs. Ps. Rs. Ps. Rs. Ps.

i¡fd|X$uShare Capital -

Authorised Share Capital - ArOL©$s i¡fd|X$u

3,500,000.00 1. (35000 Shares of Rs.100 each) - 3,500,000.00 (ê$p. 100 “p¡ A¡L$ A¡hp 35000 i¡f)

20,000,000.00 2. (300000 Linking Shares of Rs.100 each) - 30,000,000.00 (ê$p. 100 “p¡ A¡L$ A¡hp 300000 g]L$]N i¡f)

23,500,000.00 Total - kfhpmp¡ 33,500,000.00

Issued, Subscribed and Paid-up Share Capital -

cf‘pB ’e¡g i¡fd|X$u

1,932,900.00 1. Share Capital (19672 Shares of Rs.100 each) 1,967,200.00 (ê$p. 100 “p¡ A¡L$ A¡hp 19672 i¡f)

18,134,200.00 2. Share Linking (174799 Shares of Rs. 100 each) 17,479,900.00 (ê$p. 100 “p¡ A¡L$ A¡hp 174799 g]L$]N i¡f)

20,067,100.00 kfhpmp¡ 19,447,100.00 Total -

- Reserves & Funds A“pdsp¡ A“¡ c„X$p¡m

67,488,198.44 Reserve Fund - A“pds a„X$ 75,294,002.87

12,332,042.10 Building Fund - rbëX$]N a„X$ 12,816,635.10

60,503,463.00 Revaluation Reserve fuh¡ëeyA¡i“ fuTh® 60,503,463.00

19,985,913.03 Bad Debts Fund - Mfpb A“¡ iL$d„v$ g¡Zp„ a„X$ 21,440,913.03

41,017,397.09 Special Bad Debts Fund - Mpk X|$bs g¡Zp„ a„X$ 41,017,397.09

3,292,565.97 Prov.for Stand. Assets - õV$pÞX$X®$ A¡k¡V¹$k“u Å¡NhpB 4,250,241.97

41,370,266.39 Investment Depreciation Reserve - fp¡L$pZ Okpfp A“pds 40,628,758.48

774,560.00 Investment Fluctuation Reserve - fp¡L$pZ hO^V$ A“pds 774,560.00

- Other Funds AÞe c„X$p¡m

1,402,638.31 Staff Welfare Fund - õV$pa h¡ga¡f a„X$ 1,463,212.31

1,421,717.23 Dividend Equilisation Fund - X$uhuX$ÞX$ B¼hugpBT¡i“ a„X$ 1,615,717.23

1,549,582.50 Dharmada Fund - Odp®v$p a„X$ 1,610,156.50

1,063,147.12 Sahkar Prachar Fund - klL$pf âQpf a„X$ 983,421.12

3,465,643.97 Share Holder Benifit Fund - kcpkv$ b¡“uauV$ a„X$ 3,829,087.97

3,853,578.23 Mahotsav Fund - dlp¡Ðkh a„X$ 4,035,300.23

259,520,713.38 Total - kfhpmp¡ 262 866 90 270, , .

Total Carried Forward - 279,587,813.38 kfhpmp¡ ApNm gB Nep 289,709,996.90

BALANCE SHEET AS ON 31-03-2017 - sp.31-3-2017“p fp¡S>“y„ kfh¥ey

6

God has a wonderful way of turning negatives into positives.






31-03-16 ASSETS - Aõ¼epdsp¡ 31-03-17 31-03-17


Cash on Hand - lp’ D‘f rkgL$ 14,739,989.17 Cash on Hand - lp’ D‘f rkgL$ 17,719,320.12

Balances with Banks - b¢L$p¡dp„ rkgL$

S.C.C.B. / D.C.C.B. - fpS>e / Æ‰p klL$pfu b¢L$

3,113,611.38 KDCC CUR A/C V.V.NAGAR - M¡.Æ.d.k. b¢L$, h.rh.“Nf 12,136,737.38

2,903,572.10 GSCB CUR A/C A'BAD - NyS>.fpS>.kl. b¢L$, Adv$phpv$ 4,815,224.10

Nationalised Bank - fpô²$ueL©$s b¢L$ 885,949.95 SBI CUR A/C ANAND - õV¡$V$ b¢L$ Qpgy Mpspdp,ApZ„v$ 12,005,268.00

5,421,968.18 UBI CUR A/C V.V.N. - eyr“e“ b¢L$ Qpgy Mpspdp„, h.rh.“Nf 1,647,173.18

8,997,225.68 BOB CUR A/C V.V.N. - b¢L$ Ap¡a bfp¡X$p Qpgy Mpspdp„, h.rh.“Nf 3,026,058.68

4,582,304.35 OBC CUR A/C V.V.N. - Ap¡fuA¡ÞV$g b¢L$ Qpgy Mpspdp„, h.rh.“Nf 1,071,593.35

358,899.01 UBI CUR A/C Anand - eyr“e“ b¢L$ Qpgy Mpspdp„, ApZ„v$ 349,189.01

12,536,465.82 IDBI Bank CUR A/C. - IDBI b¢L$ Qpgy Mpspdp„, h.rh.“Nf 12,514,566.82

38,799,996.47 Total - kfhpmp¡ 47,565,810.52

Private Banks - Mp“Nu b¢L$p¡ 124,350.41 AXIS BANK CUR A/C - A¡L$kuk b¢L$ Qpgy Mpspdp„, h.rh.“Nf 309,579.87

556,104.15 ICICI BANK CUR A/C - ICICI b¢L$ Qpgy Mpspdp„, h.rh.“Nf 9,806,527.87

51,156.71 HDFC CUR A/C E.Payment - HDFC b¢L$ B-‘¡d¡ÞV$ Mpspdp„ 83,806.71

237,565.30 HDFC CUR A/C Baroda - HDFC b¢L$ Qpgy Mpspdp„, hX$p¡v$fp 454,456.32

2,674,474.08 HDFC CUR A/C Anand - HDFC b¢L$ Qpgy Mpspdp„, ApZ„v$ 15,752.58

260,119.46 HDFC CUR A/C Mumbai - HDFC b¢L$ Qpgy Mpspdp„, dy„bB 165,546.54

1,115,824.02 HDFC CTS-ACH A/C Anand - HDFC bL¢ $ CTS-ACH Mpspdp,„ db„y B 3,348,565.26

0.00 ICICI Bank CUR A/C - IMPS sattlement- ICICI bL¢ $ Qpgy Mpspdp,„ IMPS kV¡ $gdÞ¡ V$ 200,000.00

5,019,594.13 Total - kfhpmp¡ 14,384,235.15

600,00,000.00 MONEY AT CALL AND SHORT NOTICE - Vy„$L$u dyv$s A“¡ L$p¡g Mps¡ 97,000,000.00

INVESTMENT IN SHARES - i¡fp¡dp„ fp¡L$pZ

CO-OPERATIVE BANKS - klL$pfu b¢L$p¡ 25,000.00 KDCC Bank Ltd. - M¡X$p Æ‰p d.k.b¢L$ gu 25,000.00

5,000.00 GSC Bank Ltd. - Ahmedabad - NyS>.fpS>.kl. b¢L$ gu 5,000.00

30,000.00 Total - kfhpmp¡ 30,000.00

SLR Investments - A¡kA¡gApf fp¡L$pZp¡ Held To Maturity - ‘pL$su dyv$s dpV¡$ fpM¡g 50,566,507.91 G.O.I. 06.01% 2028 - Æ.Ap¡.ApB.06.01% 2028 0.00

21,729,453.71 G.O.I. 07.40% 2035 - Æ.Ap¡.ApB. 07.40% 2035 21,640,581.47

Available for Sale - h¡QpZ dpV¡$ fpM¡g 31,188,252.98 G.O.I. 08.20% 2022 - Æ.Ap¡.ApB. 08.20% 2022 31,188,252.98

93,748,861.36 G.O.I. 08.33% 2036 (CBLO) - Æ.Ap¡.ApB. 08.33% 2036 93,748,861.36

39,260,053.96 G.O.I. 06.83% 2039 - Æ.Ap¡.ApB. 06.83% 2039 39,260,053.96

118,589,579.77 Total Carried Forward - kfhpmp¡ ApNm gB Nep 185,837,749.77 176,699,365.79

BALANCE SHEET AS ON 31-03-2017 - sp.31-3-2017 “p fp¡S>“y„ kfh¥ey

7

Happiness is not based on your circumstances, but on a decision you make.







8

Successful people are not gifted; they just work hard, then succeed on purpose.

31-03-16 CAPITAL & LIABILITIES - c„X$p¡m s’p v$¡hy„ 31-03-17 31-03-17


279,587,813.38 Total Brought Forward - kfhpmp¡ ApNm gpìep 0.00 289,709,966.90

Deposits - ’p‘Zp¡ Current Deposit - Qpgy ’p‘Z 73,852,869.16 Individuals - ìeqL$sAp¡ / AÞe 93,166,813.55

9,389,769.66 Other Societies - klL$pfu k„õ’pAp¡ 11,845,374.85

83,242,638.82 Total - kfhpmp¡ 105,012,188.40

Savings Deposit - bQs ’p‘Z 265,328,889.08 Individuals - ìeqL$sAp¡ / AÞe 348,378,507.60

0.00 Other Societies - klL$pfu k„õ’pAp¡ 0.00

265,328,889.08 Total - kfhpmp¡ 348,378,507.60

Fixed Deposit - dyv$su ’p‘Z 954,133,344.82 Individuals - ìeqL$sAp¡ / AÞe 1,103,276,978.72

61,658,569.18 Other Societies - klL$pfu k„õ’pAp¡ 71,296,617.28

1,015,791,914.00 Total - kfhpmp¡ 1,174,573,596.00

1,364,363,441.90 Total Deposits- Ly$g ’p‘Zp¡ 1,627,964,292.00

Borrowings - L$fS> 0.00 Reserve Bank of India - fuTh® b¢L$ Ap¡a BÞX$uep 0.00

0.00 Other Banks - AÞe b¢L$p¡ 0.00

0.00 Other Institutions & Agencies - AÞe k„õ’pAp¡ A“¡ A¡S>ÞkuAp¡ 0.00

0.00 Total - kfhpmp¡ 0.00

1,237,039.00 Bills for Collection - buëk ap¡f L$g¡L$i“ 121,564.00

28,345.00 Inter-Office Adjustments (Net) - BÞV$f-Ap¡auk A¡X$S>õV$d¡ÞV¹$k (“¡V$) 0.00

125,954,587.64 Overdue Interest Reserve - dyØshusu ìepS> A“pds 132,835,522.64

Other Liabilities - AÞe S>hpbv$pfuAp¡ 392,737.00 Unpaid Dividend - “l] QyL$hpe¡g X$uhuX$ÞX$ 491,636.00

382,399.00 Unpaid Gratuity - “l] QyL$hpe¡g N°¡S>eyBV$u 382,399.00

1,174,180.00 Leave Salary Payable - QyL$hhp‘pÓ fÅ ‘Npf 1,158,125.00

1,633,302.00 Interest Payable On Deposits - ’p‘Z“y„ QyL$hhp‘pÓ ìepS> 2,395,926.00

4,600,000.00 Int.pay.on Overdue FDR - dyv$shusu ’p‘Z“y„ QyL$hhp‘pÓ ìepS> 4,600,000.00

16,500.00 Suspense Account - kõ‘¡Þk Mpsy 20,750.00

36,100.30 Pay Order Issued - ‘¡ Ap¡X®$f BõeyX$ 132,172.11

6,848,884.00 Miscellaneous Creditors - ‘fQyfZ v$¡hp 2,239,852.00

2,415,000.00 Earnest Money - A“£õV$ d“u 2,415,000.00

11,750.00 T.D.S. Deduction - V$uX$uA¡k L$‘ps 1,057,537.00

0.00 Provision For Income Tax- BÞL$d V¡$n “u Å¡NhpB 900,000.00

17,510,852.30 Total - kfhpmp¡ 15,793,397.11

1788,682,079.22 Total Carried Forward - kfhpmp¡ ApNm gB Nep 0.00 2066,424,742.65






31-03-16 ASSETS - Aõ¼epdsp¡ 31-03-17 31-03-17


118,589,579.77 Total Brought Forward - kfhpmp¡ ApNm gpìep 185,837,749.77 176,699,365.79

Held For Trading - g¡-h¡Q dpV¡$ fpM¡g 9,860,000.00 G.O.I. 07.28% 2019 - Æ.Ap¡.ApB. 07.28% 2019 0.00

10,001,000.00 GJ.S.D.L. 09.65% 2023 - Æ.A¡k.X$u.A¡g. 09.65% 2023 10,001,000.00

30,027,000.00 GJ.S.D.L. 08.05% 2025 - Æ.A¡k.X$u.A¡g. 08.05% 2025 30,027,000.00

100,332,500.00 G.O.I. 07.88% 2030 - Æ.Ap¡.ApB. 07.88% 2030 0.00

49,159,850.00 91 DAYS T.BILL -91 qv$hk “y„ V²¡$Tfu rbg 0.00

0.00 G.O.I. 06.79% 2029- 51,071,250.00Æ.Ap¡.ApB. 06.79% 2029 MP.S.D.L. 07.38% 2026- 50,805,000.000.00 A¡dù.A¡k.X$u.A¡g.07.38%2026 G.O.I. 06.97% 2026- 52,373,750.000.00 Æ.Ap¡.ApB. 06.97% 2026 435,873,479.92 Total SLR investment - Ly$g A¡k.A¡g.Apf. fp¡L$pZ kfhpmp¡ 380,115,749.77

Non - Statutory Liquidity Ratio - “p¡“-A¡kA¡gApf fp¡L$pZp¡ Held To Maturity - ‘pL$su dyv$s dpV¡$ fpM¡g 35,648,250.00 PFC 0% DDB 2022 -‘phf apB“pÞk bp¡ÞX$ 35,648,250.00

2,102,000.00 HUDCO BOND 2015-16 - lºX$L$p¡ bp¡ÞX$ 2015-16 2,102,000.00

g¡-h¡Q dpV¡$ fpM¡g HELD FOR TRADING -

15,000,000.00 - guL$huX$ a„X$ 5,000,000.00 Liquid Fund

15,000,000.00 -bufgp k“gpBa deÃy Ag aX„ $ 5,000,000.00Birla Sunlife Mutual Fund

ICICI PRU Flexi Fund- 10,000,000.000.00 ApBkuApBkuApB agn¡ u aX„ $

eVy $uApB bv$gpsp v$f/Ak¡ V$u‘u 0.00 UTI Floating Rate/STP- 15,000,000.00

buAk¡ Ag¡ bv$gpsp v$f 0.00 BSL Floting Rate- 15,000,000.00

Birla SL Saving Fund - 10,000,000.000.00 bufgp Ak¡ Ag¡ bQs aX„ $ Birla Short Term Fund - 10,000,000.000.00 bufgp V$„yL$u dvy $s“„ y aX„ $

0.00 UTI Banking & PSU Debt Fund-UTIbL¢ $]N AÞ¡ X$ PSU X$¡åV$ aX„ $ 20,000,000.00 67,750,250.00 Total Non SLR investment- Ly$g “p¡“ A¡k.A¡g.Apf. fp¡L$pZkfhpmp¡ 127,750,250.00

Fixed Deposits With Other Banks - AÞe b¢L$p¡ ‘pk¡ bp„û dyv$s ’p‘Zp¡ Private & Co-op. Banks - Mp“Nu s’p klL$pfu b¢L$p¡ 10,000,000.00 ICICI Bank - ApBkuApBkuApB b¢L$ 10,000,000.00

47,500,000.00 HDFC Bank - A¡QX$uA¡aku b¢L$ 47,500,000.00

20,000,000.00 Guj State Co-op Bank - NyS>.fpS>.kl. b¢L$ gu. 40,000,000.00

52,500,000.00 K. D. C. C. - M¡X$p Æ‰p d.k.b¢L$ gu. 52,500,000.00

54,900,000.00 DCB Bank - X$ukubu b¢L$ 50,000,000.00

10,000,000.00 INDUSIND BANK-BÞX$kBÞX$ b¢L$ 9,990,000.00

Nationalised Banks - fpô²$ueL©$s b¢L$p¡ 2,500,000.00 Oriental Bank of Commerce - Ap¡fuA¡ÞV$g b¢L$ Ap¡a L$p¡dk® 0.00

2,000,000.00 UBI Bank - V.V.Nagar - eyr“e“ b¢L$ - h‰c rhÛp“Nf 500,000.00

199,400,000.00 Total Bank Deposits- Ly$g b¢L$ ’p‘Zp¡¡ 210,490,000.00

Loans and Advances - gp¡“ A“¡ rOfpZp¡ Short Term Loans and Adv. - Vy„$L$u dyv$s “u gp¡“ s’p r^fpZp¡ 243,302,096.83 Secured - õ’phf / S>„Nd rdëL$s“p spfZ kpd¡ 327,423,821.55

4,559,961.82 Unsecured - spfZ rkhpe 3,595,087.65

247,862,058.65 Total - kfhpmp¡ 331,018,909.20

821,673,309.69 Total Carried Forward - kfhpmp¡ ApNm gB Nep 331,018,909.20 895,055,365.56






9

Every day do something that will inch you closer to a better tomorrow.


Date : 17-04-2017Place : Vallabh Vidyanagar



The ultimate source of a happy life is the attention we pay to our inner values. ~ Dalai Lama

31-03-16 CAPITAL & LIABILITIES - c„X$p¡m s’p v$¡hy„ 31-03-17 31-03-17


178,868,2079.22 Total Brought Forward - kfhpmp¡ ApNm gpìep 0.00 2066,42,4742.65

2,129,009.00 Staff Provident Fund - õV$pa âp¡huX$ÞV$ a„X$ 2,434,326.00

9,700,000.00 Balance In Profit And Loss Account - “ap “yL$kp“ Mpsp“u bpL$u 9,900,000.00

1800,511,088.22 Grand Total - L$y$g kfhpmp¡ 0.00 2,078,759,068.65

Contingent Liabilities - ApL$[õdL$ / k„cqhs S>hpbv$pfuAp¡

1,543,940.00 Cust. Liab. For Gurantee Issue - N¡f„V$u dpV¡$ N°plL$p¡“u S>hpbv$pfu 5,537,483.00

6,189,185.93 Liability For Deaf - 2014 - ApfbuApB X$uBA¡A¡a - 2014 6,694,559.86

7,733,125.93 Total - kfhpmp¡ 0.00 12,232,042.86

1,808,244,214.15 Grand Total - L$y$g kfhpmp¡ 0.00 2,090,991,111.51

10






_ud®g Lp¡Wpfu A¡ÞX$ L$py„

QpV®$X®$ A¡L$pDÞV$ÞV

‘¡“g “„bf 409, kyfs

îu r“L¡$icpB Apf. ‘V¡$gd¡“¡Æ„N X$uf¡¼V$f

îu L$dg¡i A¡d. ‘V¡$gS>“fg d¡“¡S>f

îu qL$fZcpB A¡d. ‘V¡$g (CA)Q¡fd¡“

11

31-03-16 ASSETS - Aõ¼epdsp¡ 31-03-17 31-03-17 Rs. Ps. Rs. Ps. Rs. Ps.

821,673,309.69 Total Brought Forward - kfhpmp¡ ApNm gpìep 331018909.20 895055365.56

Med. Term Loans And Adv. - dÂed dyv$s “u gp¡“ s’p r^fpZp¡ 424,200,947.89 Secured - õ’phf / S>„Nd rdëL$s“p spfZ kpd¡ 515,265,139.07

0.00 Unsecured - spfZ rkhpe 0.00

424,200,947.89 Total - kfhpmp¡ 515,265,139.07

Long Term Loans and Advances - gp„bu dyv$s“u gp¡“ s’p rOfpZp¡ 90,269,029.35 Secured - õ’phf / S>„Nd rdëL$s“p spfZ kpd¡ 113,637,413.13 0.00 Unsecured - spfZ rkhpe 0.00

90,269,029.35 Total - kfhpmp¡ 113,637,413.13

762,332,035.89 959,921,461.40 Total Advances - Ly$g r^fpZ (Of Which Overdue - s¡ ‘¥L$u dyv$srhsu Rs.1,85,94,398.84)

Other Assets - AÞe rdëL$sp¡ Fixed Assets - õ’phf rdëL$sp¡ 66,561,904.00 Land & Building - Bdpfs S>du“ krls 66,415,113.00

Other Fixed Assets - AÞe õ’phf rdëL$sp¡ 1,760,732.28 Safe Deposit Vault - k¡a X$u‘p¡TuV$ hp¡ëV$ 1,496,622.28 4,466,694.50 Furniture & Fixtures (Dead Stock) - ar“®Qf A“¡ auL$kQk® 4,137,565.16

Stationery & Stamps - õV$¡$i“fu A“¡ õV¡$çàk 168,201.00 Stationery Stock - õV¡$i“fu õV$p¡L$ 168,981.00 1,444,600.00 Stock of Stamps for Sale - õV¡$ç‘ õV$p¡L$ 1,031,930.00

5,073,058.13 Other Assets - AÞe rdëL$sp¡ 4,527,493.13

Miscellaneous - Assets - ‘fQyfZ rdëL$sp¡ 500,000.00 Deposit with Clearing Corp. of India - kukuApB‘pk¡ X$u‘p¡TuV$ 1,500,000.00 5,000.00 Locker Deposit KDCC Bank - gp¡L$f X$u‘p¡TuV$ - M¡.Æ.d.k. b¢L$ 5,000.00 178,530.00 IT Receivable AY-2011-12 - dmhp‘pÓ AphL$h¡fp¡ 2011-12 99,723.00 1,500.00 Telecom Deposit A/c. - V¡$guap¡“ X$u‘p¡TuV$ 1,500.00 -A¡k.Apf.Ap¡ X$u‘p¡TuV$ 2,000.00 S.R.O. Deposit 2,000.00

80,162,219.91 Total - kfhpmp¡ 79,385,927.57

1,237,039.00 Bills for Collection - buëk ap¡f L$g¡L$i“ 121,564.00

0.00 Inter-office Adjustments (Net) - BÞV$f Ap¡auk A¡X$S>õV$d¡ÞV¹$k (“¡V$) 0.00

Interest Receivable - dmhp‘pÓ ìepS>

125,954,587.64 Int. Receivable-Advances - rOfpZp¡ ‘f dmhp‘pÓ ìepS> 132,835,522.64

Int. Receivable-investments - fp¡L$pZp¡ ‘f dmhp‘pÓ ìepS> 4,150,365.00 a. Int. Receivable on G.O.I. - Æ.Ap¡.ApB. “y„ dmhp‘pÓ ìepS> 4,651,999.00 2,876,693.37 b. Int. Receivable on FDR - ’p‘Zp¡ ‘f dmhp‘pÓ ìepS> 4,214,363.00

132,981,646.01 Total - kfhpmp¡ 141,701,884.64

2,129,009.00 Staff Provident Fund - õV$pa âp¡rhXÞV$ a„X$ 2,434,326.00

1,800,455,259.50 Grand Total - Ly$g kfhpmp¡ 2,078,620,529.17

CONTINGENT LIABILITIES - ApL$[õdL$ / k„cqhs S>hpbv$pfuAp¡ 1,543,940.00 Customer Liab. for Gurantee Issue - N¡f„V$u dpV¡$ N°plL$p¡“u S>hpbv$pfu 5,537,483.00

6,245,014.65 RBI DEAF - 2014 A/C. - ApfbuApB X$uBA¡A¡a - 2014 6,833,099.34

Total - kfhpmp¡ 7,788,954.65 12,370,582.34

1,808,244,214.15 2,090,991,111.51 Grand Total - Ly$g kfhpmp¡


Don’t hate what you don’t understand.






31-03-16 - MQ® 31-03-17 31-03-17EXPENDITURE


Int. Paid Customer Deposit And Borrowing - ’p‘Zp¡ A“¡ L$fS> ‘f Q|L$h¡g ìepS> 89,229,669.69 101,801,269.00

Int. Paid on Borrowing - L$fS> ‘f QyL$h¡g ìepS> 150,843.37 69,291.84

0.00 Directors Fees and Expenses - X$uf¡L$V$f au A“¡ MQ® 0.00

Rent, Taxes, Lighting and Insurance - cpXy$, h¡fp, rhS>mu s’p hudp¡ 2,558,423.00 2,994,094.00

Printing, Stationery and Advertisement - râÞV$]N, õV¡$i“fu s’p Ål¡fps 662,717.50 599,520.50

Repairs, Maintenance and Depreciation - Okpfp¡ A“¡ dfpds 2,651,602.92 2,605,525.09

Auditor's Fees & Exp. - Ap¡X$uV$f au A“¡ MQ® 167,000.00 225,000.00

Legal Fee Expenditure - guNg au 7,000.00 37,500.00

Postage, Telegram & Telephone - V$‘pg s’p V¡$guap¡“ 431,844.13 233,122.37

Salary & Wages - L$d®Qpfu ‘Npf A“¡ Å¡NhpB 15,234,180.00 19,034,823.00

Loss on Sale of Investments - fp¡L$pZp¡“p h¡QpZ’u ’e¡g Mp¡V$ 9,519,060.25 741,507.91

153,575.00 Branch Expenses - ipMp MQ® 450,000.00

Other Expenditures - AÞe MQ® 9,016,037.14 5,685,951.57

Provisions - Å¡NhpBAp¡

0.00 3,331,227.43 Reserve Fund - fuTh® a„X$

Special Bad Debts Fund - Mpk X|$bs g¡Zp„ a„X$ 0.00 0.00

Mahotsav Fund - dlp¡Ðkh a„X$ 0.00 0.00

For Standard Assets - õV$pÞX$X®$ A¡k¡V¹$k dpV¡$ 92,565.97 957,676.00

Income Tax - AphL$ h¡fp¡ 5,405,916.00 4,024,450.00

4,117,015.97 Total - kfhpmp¡ 9,694,819.43

Balance Carried to Balance Sheet - kfh¥ep Mps¡ gB Nep 9,700,000.00 9,900,000.00

143,598,968.97 Grand Total - Ly$g kfhpmp¡ 154,072,424.71

PROFIT & LOSS AS ON 31-03-2017 - sp.31-3-2017 “p fp¡S>“y„ “ap “yL$kp“ Mpsy

12

If we are together nothing is impossible. If we are divided all will fail. ~ Winston Churchil





îu r“L¡$icpB Apf. ‘V¡$gd¡“¡Æ„N X$uf¡¼V$f

îu L$dg¡i A¡d. ‘V¡$gS>“fg d¡“¡S>f


îu qL$fZcpB A¡d. ‘V¡$g (CA)Q¡fd¡“

Date : 17-04-2017Place : Vallabh Vidyanagar

_ud®g Lp¡Wpfu A¡ÞX$ L$py„

QpV®$X®$ A¡L$pDÞV$ÞV

‘¡“g “„bf 409, kyfs

31-03-16 INCOME - AphL$ 31-03-17 31-03-17


Interest Received - dm¡g ìepS>

Int. received Loans and Advances - qOfpZp¡> 84,403,555.99 101,155,169.90

Int. received From Fixed Deposits - 23,387,847.51 auL$k X$u‘p¡TuV$ 16,119,444.00

Int. received on Govt. Sec. - kfL$pfu Ådu“Nufu 30,346,198.31 25,246,622.91

Int. received on Call Money - L$p¡g d“u 1,754,368.50 4,994,108.15

139,891,970.31 147,515,344.96 Total - kfhpmp¡

Commission, Exchange & Brokerage - L$rdi“, hV$ph A“¡ v$gpgu

Commission - L$rdi“ 142,454.46 144,117.00

Commission on Stamp Franking - õV¡$ç‘ ä¡ÞL$]N “y„ dm¡g L$rdi“ 169,790.00 245,286.00

Total - kfhpmp¡ 312,244.46 389,403.00

Profit on Sale of Inv./Assets - fp¡L$pZ / AõL$epds h¡QpZ ‘f“p¡ “ap¡

302,000.00 Profit on Sale of Investment - fp¡L$pZ“p h¡QpZ “p¡ “ap¡ 5,246,258.77

Miscellaneous Income - ‘fQ|fZ AphL$ Share Transfer Fee - i¡f V²$pÞkaf au 276.00 419.00

Locker Rent - gp¡L$f cpXy„$ 470,181.00 25,804.00

Miscellenious Income - ‘fQ|fZ AphL$ 3,460.49 0.00

Share Divi. -Guj. State Co-op. Bank - 3,750.00 3,750.00 i¡f X$uhuX$ÞX$ - NyS>.fpS>.kl. b¢L$ gu A/c Maint. Charges - Mpsp ÅmhZu MQ® 86,666.71 10,360.00

Provision No Longer Required - Å¡NhpBAp¡“u fL$d - ‘fs 2,515,970.00 741,507.91

- 12,450.00 Interest On Incometax Refund BÞL$dV¡$n fua„X$ ‘f dm¡g ìepS> 0.00

0.00 ATM Charges - A.¡Vu.A¡d QpÆ®k 139,577.07

Total - kfhpmp¡ 3,092,754.20 921,417.98

143,598,968.97 Grand Total - Ly$g kfhpmp¡ 154,072,424.71

PROFIT & LOSS AS ON 31-03-2017 - sp.31-3-2017“p fp¡S>“y„ “ap “yL$kp“ Mpsy

13

You must be the change you wish to see in the world. ~ Mahatma Gandhi

’p‘Zv$pfp¡ dpV¡$ ANÐe“u Ål¡fpsb¢L$“p v$f¡L$ ’p‘Zv$pfp¡“¡ S>Zphhp“y„ L¡$ hj® 2015-16 dpV¡$ L¡$ÞÖ kfL$pf“p bS>¡V$dp„ Ål¡fps ’ep dyS>b spfuM 01/06/2015 ‘R>u L$p¡B‘Z klL$pfu b¢L$“p ’p‘Zv$pfp¡ L¡$ S>¡Ap¡ kcpkv$ lp¡e L¡ “p lp¡e s¡Ap¡“u ìepS>“u AphL$ hprj®L$ ê$p. 10,000/- (A„L¡$ ê$r‘ep v$k lÅf ‘yfp) L¡ s¡’u h^y li¡ s¡ sdpd ’p‘Zv$pfp¡“p

ìepS> dp„’u “uQ¡“u ifsp¡“¡ Apû“ TDS L$‘ps L$fhpdp„ Aphi¡.

1. ’p‘Zv$pf¡ ‘p“L$pX®$ Apàey„ li¡ sp¡ 10.00% “p v$f¡ TDS L$‘ps ’i¡, AÞe’p 20.00% “p v$f¡ TDS L$‘ps ’i¡.

2. S>¡ ’p‘Zv$pfp¡“u Ly$g hprj®L$ AphL$ L$fh¡fp ‘pÓ ’su “ lp¡e s¡hp ’p‘Zv$pfp¡A¡ TDS “l] L$p‘hp “u k|Q“p Ap‘hp dpV¡$ ap¡d® 15-Æ (S>¡“u Jdf 60 hj®’u Ap¡R>u R>¡) A’hp ap¡d® 15-A¡Q (S>¡“u Jdf 60 hj® L¡$ s¡’u h^y R>¡) ‘p“L$pX®$“u “L$g kp’¡ b¢L$dp„ kdekf fSy> L$fphhp“p fl¡i¡.

3. A¡kp¡iue¡i“ Ap¡a ‘k®Þk (AOP) / V²$õV$ / “p¡“ ‘°p¡auV$ Ap¡N£“pBT¡i“ / krh®k kp¡kpeV$u “u ìep¿epdp„ Aphsp ’p‘Zv$pfp¡ ap¡d® 15-Æ kp’¡ ‘p“L$pX®$

Ap‘i¡ A’hp BÞL$dV¡$n Ap¡auk dp„’u TAX-EXEMPTION (h¡fp dpau) “y„ âdpZ‘Ó d¡mhu“¡ s¡“u “L$g fSy> L$fi¡ sp¡ ìepS>“u AphL$ ‘f TDS L$p‘hpdp„ “l] Aph¡.

4. S>¡ dyv$su ’p‘Zp¡ kNuf-dpB“p¡f“p “pd¡ lp¡e A“¡ s¡hu ’p‘Zp¡“p ìepS> ‘f TDS L$p‘hp“p¡ ’sp¡ lp¡e sp¡ s¡hp k„Å¡Np¡dp„ kNuf“p hpgu (r‘sp A’hp

dpsp) “y„ ‘p“L$pX®$ fSy> L$fhy„ ‘X$i¡ sp¡ 10% “p v$f¡ TDS L‘ps ’i¡, AÞe’p 20% “p v$f¡ TDS L$‘ps ’i¡. kNuf“p hpguAp¡ (r‘sp/dpsp) “u AphL$

Å¡ L$f‘pÓ (TAXABLE) “p ’su lp¡e sp¡ s¡Ap¡ TDS L$‘ps “l] L$fhp dpV¡$ ap¡d® 15-Æ Ap‘u iL$i¡.






It’s easy to quit, it takes faith to go through.

(A) Significant Accounting Policies:

1) Basis of Preparation : The accounts are prepared on historical cost basis as a going concern, following the mercantile system of accounting and

recognizing income and expenditure on accrual basis. Accounting policies not specifically referred to otherwise are consistent and in conformity with the generally accepted accounting principles.

2) ADVANCES: a) Advances are classified in to Performing and Non-Performing Assets and provision is made as per IRAC norms of RBI. b) Advances are stated at gross value while provision for performing & Non-Performing Assets as per RBI guidelines is shown

under the head “Reserve & Other Funds” under sub head “Bad Debt Reserve”.

3) Use of Estimates : The Preparation of financial statement requires the management to make estimates and assumptions considered in the

reported income and expenses during the reporting period. Management believes that the estimates used in the preparation of the financial statements are prudent and reasonable. Future results could differ from these estimates. Any revision to the accounting estimation is recognized prospectively in the current and future periods.

4) Fixed Assets : Fixed Assets are stated at cost, (except plot no. K-49,50) less accumulated depreciation. Costs include all expenses incurred

to bring the assets to its present location and condition related thereto.

5) Depreciation: Depreciation is taken on W.D.V. of the assets and depreciation on such a ssets has been c alculated at the rate applicable

under the Income Tax Act.

6) Impairment of Assets : At each balance sheet, the bank assets whether there is any indication that an assets may be impaired. If any indication

exists, the recoverable amount of the assets is estimated. An impairment loss is recognized immediately, whenever the carrying amount of an assets exceed its recoverable amount. The recoverable amount is the greater of net selling price and value in use. In accessing value in use, estimated future cash flows are discounted to their present value based on appropriate discount factor.

7) Investments: (A) Investment are categorized as under 1. S.L.R. Investments 2. Non S.L.R. Investments 3. Shares of Cooperative banks 4. Fixed Deposits with Other Banks (B) Investment are further classified as 1. Held to Maturity comprising of investment acquire with the intention to hold them till maturity. 2. Held for Trading comprising of investment acquire with the intention to trade. 3. Available for sale comprising of investment, which is not classified in above two categories. (C) Investment classified as HTM are carried at acquisition cost unless it is more than face value, In which case premium is

amortize over the period remaining to maturity. (D) Investment classified as HFT and AFS mark to market script wise and the resultant depreciation are recognized in IDR

(Investment Depreciation Reserve) account. Net appreciation is ignored. (E) Profit or loss on sale of investment is taken to the profit and loss account.

8. Revenue Recognition : Income/Expenditure are accounted on accrual basis except the following are accounted on cash basis. (a) Income 1 Commission and Brokerage 2 Interest on Non Performing Asset 3 Locker Rent. 4 Dividend on Investment (b) Expenditure 1 Annual Maintenance Contract Charges

2 Leave encashment.

3 Legal and other sundry expenses incurred in suit filled account

4 DICGC premium





SIGNIFICANT ACCOUNTING POLICIES & NOTES ON ACCOUNTS

14 th46 Annual Report 2016-17th46 Annual Report 2016-17th46 Annual Report 2016-17

Goodness is the only investment that never fails. ~ Henry David Thoreau





9) STAFF RETIREMENT BENFITS:

a) Salaries, paid annual leave, Bonus etc. are accrued in the year in which the services are rendered by employees.

b) The bank has defined contribution plans for post employments benefit in forms of Provident Fund. Bank has made following contribution to LIC of India and charged to profit and loss accounts.

Particulars 31-03-2017

PF Contribution Rs. 13,29,632/-

c) The bank has defined benefit plans for post employment benefit in the form of gratuity for all employees administrated through trust, funded with Life Insurance Corporation of India. Bank has charged to the profit and loss account, the amount of following contribution under defined contribution plan made to LIC.

Particulars 31-03-2017

Staff gratuity Rs. 5,40,274/-

10) Taxation:

A) Current Tax – Current year Tax is provided as per the provisions of IT Act, 1961.

B) Deferred Tax-Deferred tax expenses or benefit is recognized on timing differences between taxable income and accounting income originating during the current year and reversal of time differences for the earlier years. Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted at the reporting date.

11) Provision:

Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources even though the amount cannot be determine with certainty and represents only a best estimate in the light of available information. Contingent liabilities are not recognized but are disclosed in notes. Contingent assets are neither recognized nor disclosed in financial statements.

12) Segment Reporting :

The Entire Operation of the Bank is one composite Banking Business not liable to different risks and rewards. Consequently in the opinion of the Bank Accounting Standard 17 on “Segment Reporting” issued by the Institute of Chartered Accountants of India is not applicable to the Bank.

(B) NOTES ON ACCOUNTS :

1. Previous Year's figures have been regrouped / rearranged / recast to the extent necessary.

2. Capital to Risk Asset Ratio (CRAR) as on 31st March 2017 was 14.59 % as against minimum requirement of 12 % prescribes by RBI.

3. Advances

a. Balances under the head “Advances”, “Deposits” and other accounts (Liability) are subject to reconciliation and confirmation of customers.

b. Classification of advances covered by Book Debts is reported under the head “Advances secured by tangible asset” as per RBI guidelines.

c. Bank has achieved priority sector advances of 62.90% against the target of 40 % while in case of advances to weaker section it is 16% of Total Advance of Priority Sector Advances.

d. Required provision for standard assets has been made by the bank as per RBI guidelines.

4. Contingent Liability

Bank has given guarantee of Rs. 55,37,483/- on behalf of various customers against fixed deposit of Rs.55,60,525/-.

5. Income Tax

Income of the bank is liable to tax under the Income Tax Act, 1961. Accordingly provision of Rs. 54,05,916/- is made for Income Tax. Advance Tax and TDS paid for the current year are Rs. 45,05,916/-.

6. No penalty is imposed by RBI during the year for violation of any law.

7. Inter branch accounts and Inter bank accounts are reconciled up to 31st March, 2017 and no provision is required to be made in respect of items outstanding therein.

8. Bank is not authorized to deal in foreign exchange.

9. Fixed Deposits of Rs. 2104.90 lacs includes Rs. 2104.90 lacs under lien with other banks for various banking arrangements.

10. Bank has paid DICGC premium of Rs.9.33 lacs insuring deposit of Rs. 163.51 Cr for the half year ending on 30th September, 2017 based on deposit as on 31st March, 2017.

15th46 Annual Report 2016-17th46 Annual Report 2016-17th46 Annual Report 2016-17

Worry increases pressure, prayer releases peace.

11. Revaluation of Assets (AS-10) Bank had revalued its assets i.e. land and building during the year 2015-16. The Book Value of the assets and revaluation of the assets was as under:

Assets Book Value Revaluation

Land (plot No. K49&50) 45,90,537.00 6,50,94,000.00

Bank has created revaluation reserve of Rs. 60503463/- being the difference of revaluation and book value of the assets.

12. Accounting Standard 6 ( Depreciation Accounting ) :

Depreciation is not provided for on the assets sold / disposed off during the accounting year, till the time of sell / disposal as mandated by the accounting standard.

13. The bank operations are solely in the banking services industry including investment / treasury operation. As interest income exceeds 97 % of the total revenue of the bank, there is no reportable segment in pursuance of Accounting Standard – 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

14. Guarantees given on behalf of constituents are as follows: (Rs. In Lacs )

31.03.2016 31.03.2017

15.44 55.37

15. At the end of the year bank is having unclaimed deposits Rs.68,33,099.34 which are transferred to Reserve Bank of India as per direction issued by them under The Depositor Education and Awareness Fund Scheme (DEAF).

16. The bank does not pay any remuneration to any of its directors in terms of Reserve Bank of India's circular dated 29/03/2003.

17. Details regarding disclosure norms (UBD.CO.BPD.(PCB) Cir. No. 52/12.05.2001/2013-14 dated 29-03-2003)

I. Capital to Risk Weight Asset Ratio(CRAR) : 14.59%

II. Movement of CRAR i.e., CRAR as on Balance Sheet

Date For the Current year vis-à-vis previous year : 2017 : 14.59% 2016 : 16.74%

III. Investments

a) Book value and face Value of investment : Book value : Rs. 3801.16 Lakh

Face value : Rs. 3600.00 Lakh

b) Market Value of investment : Market Value : Rs. 3696.65 Lakh

c) Details of Issuer Composition of non-SLR

Investment and non performing non-SLR Investment

Issuer Composition of Non SLR Investment: (Rs in Lakh)

No. Issuer Amount Extent of "Below Investment Extent of "Unrated" Extent of "Unlisted”

(Rs. In Lacs) Grade" Securities Securities Securities

(1) (2) (3) (4) (5) (6)

1 PSUs 356.48

2 FIs --

3 Public Sector Banks --

4 Mutual Funds 900.00

5 Others 21.02

6 Provision held --

Towards Depreciation

Issuer Composition of Non SLR Investment: (Rs in Lakh)

Particulars Amount (Rs. In Lakh)

Opening Balance 677.50

Additions During the year since 1st April 600.00

Reduction During the above period-Closing Balance 1277.50

Total Provisions held 0.00

iv. Advances against real estate, construction business , housing : Rs. 1811.00 Lakh

v. Advances against shares & debentures : --





16 th46 Annual Report 2016-17th46 Annual Report 2016-17th46 Annual Report 2016-17

Worry increases pressure, prayer releases peace.





vi. Advances to Directors, their relatives companies/firms in which

They are interested

a) Fund Based : Rs. 0.40 Lakh

b) Non-Fund based (Guarantees, L/C, etc.) : Rs. 0.00 Lakh

vii. Cost of Deposits : Average cost of deposits : Rs. 6.57%

viii. NPAs:

a) Gross NPAs : Rs. 140.78 Lakh

b) Net NPAs : 0.00

ix. Movement in NPAs i.e., Gross and net NPAs as on Balance sheet date for the current year vis-avis previous year. Net NPAs should be arrived at after deducting provisions held , interest suspense account etc. (Rs. In Lakh)

2016 2017

Gross NPA 165.59 140.78

Gross NPA % 2.17% 1.47%

Net NPA % 0.00 0.00

x. Profitability:

a) Interest income as a percentage of working funds : 8.01%

b) Non-interest income as a percentage of working funds : 0.13%

c) Operating profit as a percentage of working funds : 1.04%

d) Return on Assets : 0.58%

e) Business (Deposits + Advances) per employees : Rs. 784.21 Lakh

f) Profit per employees : Rs. 3.09 Lakh

xi. Provisions made toward NPAs, Depreciation in investments, Standard Assets : Rs. 1073.38 Lakh

xii. Movement in provisions : [i.e., Provisions as on Balance Sheet date for the current year March 31,2017 Vis-avis previous year March 31,2016]

2016 2017(Rs. In Lakh)

a) Towards NPAs 610.03 624.58

b) Towards depreciation on investments 421.45 406.29

c) Towards Standard Assets 32.93 42.50

xiii. Foreign currency assets & liabilities

(if applicable) : N.A N.A

xiv. Payment of DICGC insurance Premium: Upto 10.04.2017 of Rs. 9.33 lakh

xv. Penalty imposed by RBI : N.A

xvi. Restructured Accounts : NIL

xvii. Fixed-Assets-Valuation/Revaluation : YES

1. Amount of Revaluation Reserve : Rs. 605.03 Lakh

2. Bank has transferred excess provision of IDR to P & L Rs.7.42 Lakh

Date : 17-04-2017 Name : M/s. Nirmal Kothari & Co.Place : Anand Designation : Chartered Accountant Panel No. : 409

17th46 Annual Report 2016-17th46 Annual Report 2016-17th46 Annual Report 2016-17

18

Prayer should be the Key in the Morning, And The Lock at night.

‘qfriô$‘¡V$p r“ed “„.5 dp„ kyrQs a¡fapf ky^pfp h^pfp krls

17





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r“ed “„bf

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‘pX$u iL$i¡.

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17

hluhV$u A“yLy$msp dpV¡$

19

Doing what you like is freedom. Liking what you do is happiness.





Doing what you like is freedom. Liking what you do is happiness.

(Rs in Lacs)

Sr. Particulars rhNs 31-03-16 31-03-17

1 Capital d|X$u 200.67 194.47

2 Reserves A“pdsp¡ 2595.21 2702.63

3 Net Worth “¡V$h’® 1806.63 1938.80

4 Working Capital L$pe®L$pfu d|X$u 16830.00 18827.25

5 Provision for Standard Assets õV$pÞX$X®$ A¡k¡V¹$k dpV¡$ Å¡NhpB 32.93 42.50

6 Total Deposits Ly$g ’p‘Zp¡ 13643.63 16279.64

Increase (%) h^pfp¡ (%) 11.78% 19.32%

7 Total Advances Ly$g r^fpZp¡ 7623.32 959921

Increase (%) h^pfp¡ (%) 15.31% 25.92%

8 Priority Sector Advances âp’rdL$ n¡Ó¡ r^fpZ 4648.11 6038.00

% of Total Advances Ly$g r^fpZ“p V$L$p 60.97% 62.90%

9 Credit / Deposit Ratio r^fpZ/’p‘Z NyZp¡Ñf 55.87% 58.96%

10 Total Investments Ly$g fp¡L$pZp¡ 7030.24 7183.86

11 SLR Investments SLR fp¡L$pZp¡ 4358.73 3801.16

% of Total Investments Ly$g fp¡L$pZp¡“p V$L$p 62.00% 52.91%

12 Average cost of funds a„X$“u kf¡fpi ‘X$sf 7.28% 7.24%

13 Average cost of Deposits ’p‘Zp¡“u kf¡fpi ‘X$sf 6.89% 6.79%

14 Average yield on Advances r^fpZp¡“u kf¡fpi D‘S> 11.82% 11.76%

15 Business per Employee L$d®Qpfu v$uW$ rbT“¡k 686.03 784.21

16 Gross NPA 165.59 140.78

% of Gross Advances 2.17% 1.47%

17 Capital Adequacy Ratio d|X$u-‘ep®ásp NyZp¡Ñf 16.74% 14.59%

18 Staff cost to total income õV$pa MQ® Ly$g AphL$“p V$L$p 10.60% 12.35%

19 Cost / Revenue Ratio MQ®/AphL$ NyZp¡Ñf 85.24% 87.28%

20 Net Income per staff L$d®Qpfu v$uW$ AphL$ 3.13 3.09

21 No of regular share holders kcpkv$ k„¿ep 13525 13976

Nominal Share holders “p¡du“g kcpkv$ k„¿ep 87 99

22 Earning per share i¡f v$uW$ L$dpZu 48.34 50.91

23 Term Deposits / Total Deposits dyv$su ’p‘Zp¡/Ly$g ’p‘Zp¡“p %dp„ 74.45% 72.15%

24 Investment Dep. Reserve fp¡L$pZ-Okpfp A“pds 413.70 406.29

25 Advance to Directors (FDOD) X$uf¡¼V$fp¡“¡ L$f¡g r^fpZ 9.13 0.41

26 Housing Loan lpDk]N gp¡“ 746.29 918.13

27 NPA Provision NPA dpV¡$ Å¡NhpB 610.03 624.58

Required Provision S>ê$fu Å¡NhpB 165.59 140.78

Excess Provision Made h^pfp“u Å¡NhpB 444.44 483.80

BANK'S COMPARATIVE FINANCIALS & RATIOS IN BRIEF : 2016-2017b¡ÞL$“u syg“pÐdL$ “pZp„L$ue dprlsu A“¡ NyZp¡Ñf : 2016 - 2017


20

Effort doesn’t matter if love is left behind.

Ap^pf L$pX®$ k„L$gus kbkuX$u A„N¡“u dprlsu (AADHAR BASED PAYMENT SYSTEM)

L¡$ÞÖ kfL$pf Üpfp ‘yfõL©$s rhrh^ ep¡S>“p“u kbkuX$u“u fL$dp¡ kuû Mpspdp„ S>dp L$fhp dpV¡ “¡i“g ‘¡d¡ÞV$

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S>ZphuA¡ R>uA¡.

CHARGES (Excluding Service Tax) Rs.

1 First Time Card Issuance Fee FREE

2 Additional Card (Add-on Card) 200.00

3 Card Replacement Fees 200.00

4 Annual Maintenance Charge (From second year onwards) 150.00

5 PIN Replacement charges 25.00

CHARGES AFTER 5 (FIVE) TRANSACTIONS

A) Financial (Cash withdrawal) VVCC BANK AND HDFC BANK ATM 0.00

Other BANK ATM 18.00

B) Non - Financial (Balance Enquiry, Mini Statement, Pin Change) WCC BANK AND

HDFC BANK ATM

0.00

Other BANK ATM 5.00

Important Information on VVCC RUPAY ATM-CUM-DEBIT CARD

• Card will be issued to eligible current & Savings Bank Account Holders.

• Joint holders can also get add-on Card, upon payment of Rs. 200/-

• Usage of card at VVCC & HDFC BANK ATMs is free of charge.

• Details of charges at other Bank ATMs (see Table)

• Personal Accident coverage of Rs. 1,00,000/- to card-holder, provided card has been used within a period of 45 days prior to accident.

• Rupay ATM-CUM-DEBIT Card is valid throughout India, and can be used at any POS/ATM of any Bank and for e-payments.






2 Clr Setup final REV - VVCC Bank Annual Report 2016-17.pdf · Auditor's Report 3 Don’t let a hard lesson harden your heart. The Vallabh Vidyanagar Commercial Co-operative Bank

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