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THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
Govt. of U.T. of Daman & Diu Registration RCS/GB/178/Vol.II/03-04/146
No. & Date dated 06.08.2004
14/54, Dilip Nagar,
Nani Daman – 396210
Phone : 0260-2255984
Fax : 0260-2255984
55(9-10), 1st Floor, Gandhi Bhuvan,
Bunder Chowk, Diu 362520
Phone : 02875-254972
Fax : 02875-252172
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
2v v
Notice is hereby given that the 57th Annual General Meeting of the Members of The Goa State Co-op. BankLtd., will be held on Sunday, the 27th December 2020 at 10.00 a.m. in the Meeting Hall at “Sahakar Sankul”,6th Floor, Head Office, Patto Plaza, Panaji-Goa to transact the following items of business.
A G E N D A
1. To read and confirm the proceedings of the Annual General Meeting held on 09.02.2020.
2. To consider the Annual Report of the Bank presented by the Board of Directors alongwith AuditedStatement of Accounts for the financial year 2019-20.
3. To consider the Statutory Audit Report for the financial year 2019-20 and the Bank’s compliance thereof.
4. To approve the excess amount against Budgetary provisions for the financial year 2019-20 and approveAnnual Budget estimates for the financial year 2020-21 & 2021-22.
5. To consider appointment of Statutory Auditors for the financial year 2020-21.
6. To consider the proposal of Mr. Nityanand K. Naik to accept Rs.33,603/- as full & final settlementagainst his outstanding loan dues of Rs.63,549/-; the loan being secured against pledged of Kissan VikasPatra.
7. Any other subject that may be transacted with the permission of the Chair.
All the Members are requested to attend the same.
THE GOA STATE CO-OP. BANK LTD.(Scheduled Bank)
“Sahakar Sankul”, H.O. Patto Plaza, Panaji, Goa
57th ANNUAL GENERAL MEETING
N O T I C E
N.B. :
1 . The quorum for the General Body Meeting shall be 31 Members of which not less than 25 Members shall be representatives of the
Societies. In case there is no quorum till 10.00 a.m., the Meeting shall stand adjourned and the adjourned Meeting shall be held at 10.30
a.m. on the same day and at the same place or it shall be adjourned to a subsequent date not earlier than seven days and at such adjourned
Meeting the business on the agenda of the original Meeting shall be transacted whether there is quorum or not.
2. The printed copies of Annual Report alongwith the Notice is sent to the Member Cooperative Societies and Representatives of “B”
Class Share Holders. However, for Individual Members the printed copies of Annual Report will be available at all Branches of the
Bank. Furthermore, for information of all the Members, a copy of the Annual Report will be displayed on the Notice Board of the Head
Office & all Branches and on the Bank’s website www.gscbgoa.com .
3. If any suggestion is to be made or any clarification in respect of Annual Report, Balance Sheet, Profit & Loss Account and Audit Memo
is required, the same should be sent in writing addressed to the Managing Director (I/c) of the Bank at Head Office, so as to reach latest
by 22nd December 2020 to enable us to furnish the same at the AGM after referring to the Bank's records.
4. The Member Societies intending to send their alternate representative to attend the said Meeting, substitute to those reported earlier, said
representative shall carry a certified copy of the latest Resolution authorizing him/her to attend & vote on behalf of the Society.
5. Only those who are enrolled as Members on or before 31st March 2020 are eligible to attend the Meeting.
6. The Members are requested to bring their copies of the Annual Report at the Meeting in view of the limited number of copies printed by
the Bank.
7. The Member of the Managing Committee of the Society duly authorised by the Resolution will be allowed to attend/speak and vote at
the AGM.
8. Due to COVID-19, Pandemic, SOP guidelines of Central / State Govt. will have to be followed for conducting Annual General Meeting.
Members attending the Meeting should strictly follow SOPs issued thereof.
Panaji, 11th December 2020
By Order of the Board of Directors.
(A.M. CHODANKAR)
MANAGING DIRECTOR (I/C)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
80,38,32,600 II. ISSUED, SUBSCRIBED & PAID UP7,15,70,700 a. A” class shares held by Cooperative
Institutions of ` 100/- / ` 1000/- each 7,17,98,90020,00,00,000 b. “B”class shares held by Government
of Goa of ` 1000/- / ` 5000/- each. 20,00,00,00053,22,61,900 c. “C”class shares held by Individuals
of ` 100/- / ` 1000/- each 58,24,58,700 85,42,57,600
16,92,340 2. SHARE APPLICATION MONEY 1,06,86,340
1,44,04,17,770 3. RESERVE FUND AND PROVISIONS5,65,40,241 Statutory Reserve fund 5,65,40,2413,05,06,769 Building Fund 3,05,06,769
83,34,557 Dividend Equilisation Fund 83,34,55759,39,849 Reserves for unforseen losses 59,39,849
2,29,79,849 Agriculture credit stabilsation Fund 2,29,79,8491,11,61,000 Shares Capital Redemption fund. 1,11,61,000
1,93,894 Education Fund & Fees 1,93,8941,56,228 Development Fund VKS Sty. 1,56,228
47,57,74,208 Revaluation Reserve 65,73,71,70028,33,59,275 Reserve for Loss Assets(IIBI) 28,33,59,2751,07,19,292 General Reserve (Sch 1) 1,19,50,4525,66,72,486 Contigent Prov. Against STD Assets 5,90,99,014
45,20,24,558 Provision for Bad & Doubtful Debts (Sch 2) 52,00,92,7462,24,91,630 Prov. For Fraudulant Cases 2,24,91,630
1,80,585 Prov.for Inter Bank Reconciliation 1,80,58533,83,349 Capital Reserve 1,13,33,349 1,70,16,91,139
4. DEPOSITS & OTHER ACCOUNTS14,37,48,36,634 A. FIXED DEPOSITS8,10,27,40,466 I. SOCIETIES: (Sch 3) 7,21,06,02,363
24,03,91,788 II. LOCAL BODIES: (sch 4) 25,17,99,7466,03,17,04,380 III. INDIVIDUALS: (Sch 5) 5,80,72,64,918 13,26,96,67,027
10,06,70,556 B. MONTHLY RECURRING DEPOSITS (Sch 6) 10,27,66,291
2,76,45,561 C. PIGMY DEPOSITS 2,19,86,958
1,28,33,00,185 D. OTHER DEPOSITS2,74,560 SECURITY DEPOSITS 2,91,998
8,18,36,14,090 E. SAVING BANK DEPOSITS:1,39,05,50,860 Societies 1,56,83,75,293
57,87,90,795 Local Bodies. 56,19,66,1566,21,41,29,578 Individuals 6,13,72,02,463
1,42,857 N.R.I./N.R.E. 0 8,26,75,43,912
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v27
OPERATIVE BANK LTD.BANK)
AS ON 31.03.2020
PROPERTIES & ASSETS
1,08,61,44,541 1. CASH.1,01,51,80,278 With Reserve Bank of India 1,00,43,80,278
6,20,01,163 In hand 7,91,47,94689,63,100 In ATMs 82,32,000 1,09,17,60,224
58,90,00,669 2. BALANCES WITH OTHER BANKS1,25,30,170 Current A/c with SBI & other Nationalised Banks 1,85,02,312
57,64,69,961 Current A/c with other Banks. 58,51,04,314538 Current A/c with Coop.Banks. 0 60,36,06,625
2,71,01,71,000 3. TERM DEPOSITS WITH BANKS 2,77,39,51,000
58,18,00,000 4. MONEY AT CALL 72,06,70,595
6,08,41,70,293 5. INVESTMENTSa In Central & State Govt. Securities
4,49,30,20,079 1. Central Govt. Securities 2,81,93,86,801Face Value ` 2,88,30,50,000Book Value ` 2,81,93,86,801
1,59,06,48,114 2. State Govt. Securities 2,69,61,13,084Face Value ` 2,68,39,00,000Book Value ` 2,69,61,13,084
5,02,100 b. Shares of Coop. Institution. 5,02,100 5,51,60,01,985
15,67,08,07,296 6. ADVANCES
1,96,66,60,279 I. SHORT TERM LOANS 1,46,70,61,873Of the total Short Term advances:Cash Credit LimitsSocieties: ` 32,77,73,563Others: ` 80,57,38,365Term LoanOthers: ` 33,35,49,946
(Of the total Short Term advances ` 33,65,118pertain to Societies under liquidation)
5,36,73,81,615 II. MEDIUM TERM LOANS 5,07,74,24,125Of the total Medium Term advances:Amt due from Soc- ` 73,25,44,081Others- ` 4,34,48,80,044(Of the total Medium Term advances` 3,39,85,479 pertain to Societiesunder Liquidation)
8,33,67,65,402 III. LONG TERM LOANS 9,37,94,20,380 15,92,39,06,378Of the total Long Term advances:Amount due from Soc.- ` 3,60,93,611Others - ` 9,34,33,26,769
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
34v v
THE GOA STATE CO-(SCHEDULED
BALALNCE SHEET
CAPITAL & LIABILITIES
1. CAPITAL1,25,00,00,000 I. AUTHORISED CAPITAL 1,25,00,00,000
II. ISSUED, SUBSCRIBED & PAID UP7,14,03,100 a. A” class shares held by Cooperative 7,15,23,300
Institutions of ` 100/- / `1000/- each19,96,00,000 b. “B”class shares held by Government 19,96,00,000
of Goa of ` 1000/- / ` 5000/- each.47,28,75,600 c. “C”class shares held by Individuals 50,76,85,400 77,88,08,700
of ` 100/- / ` 1000/- each
8,30,340 2. SHARE APPLICATION MONEY 72,19,340
3. RESERVE FUND AND PROVISIONS4,36,59,570 Statutory Reserve fund 4,36,59,5702,34,59,706 Building Fund 2,34,59,7067,7,13,633 Dividend Equilisation Fund 77,13,63345,56,458 Reserves for unforseen losses 45,56,458
1,76,27,842 Agriculture credit stabilsation Fund 1,76,27,8421,03,29,506 Shares Capital Redemption fund. 1,03,29,506
1,48,736 Education Fund & Fees 1,48,7361,56,228 Development Fund VKS Sty. 1,56,228
42,88,51,448 Revaluation Reserve 61,04,48,94028,33,59,275 Reserve for Loss Assets(IIBI) 28,33,59,2751,05,84,189 General Reserve (Sch 1) 1,17,15,9574,84,62,450 Contigent Prov. Against STD Assets 5,00,22,608
38,10,42,458 Provision for Bad & Doubtful Debts 43,98,33,2781,50,56,304 Prov. For Food Consortium 1,50,56,304
82,34,887 Prov. For Fraudulant Cases 82,34,8871,80,585 Prov.for Inter Bank Reconciliation 1,80,585
31,31,368 Capital Reserve 1,10,81,368 1,53,75,84,8814. DEPOSITS & OTHER ACCOUNTSA. FIXED DEPOSITS
8,08,78,24,494 I. SOCIETIES: 7,19,29,42,15320,86,01,700 II. LOCAL BODIES: 21,72,46,878
3,78,74,18,391 III. INDIVIDUALS: 3,53,23,95,703 10,94,25,84,7348,72,72,058 B MONTHLY RECURRING DEPOSITS 9,07,81,1932,76,34,356 C. PIGMY DEPOSITS 2,19,75,753
D. OTHER DEPOSITS2,74,560 SECURITY DEPOSITS 2,91,998
Increase/Decrease in Deposits 16,569.68 (4,212.62)
Increase/(Decrease) in Interest Payable (574.77) 1,194.19
Increase/(Decrease) in Share Appl. Clg Adj, Other
Liab, OIR, Branch Adj 2,632.47 (2,399.65)
Increase in Reserves 373.32 934.05
Increase in BDDR 0.00 0.00
Increase(-)/Decrease(+) in Term deposits with Banks (5,576.39) (2,026.51)
Increase in Investments (2,591.77) 5,676.68
(Increase)/Decrease in Advances (11,227.80) (2,530.99)
(Increase)/Decrease in Interest receivable (292.49) (524.26)
(Increase(/Decrease in Other Assets , Clg Adj 178.03 (727.69)
Decrease/(Increase) in Working Capital (509.72) (4,616.80)
Net Cash Flow from Operations (A) (66.10) (163.21) B Cash Flow from Financing Activities
1 Increase in Share Capital 571.45 504.25
2 Increase/(Decrease) in Borrowing (1,800.00) 0.00
3 Interest paid on Borrowings (0.94) (1.81)
Net Cash flow from Financing Activities (B) (1,229.49) 502.44 C Cash Flow from Investing Activities
1 Purchase of Fixed Assets (41.96) (137.03)
Net Cash Flow from Investing Activities (C) (41.96) (137.03) Net Cash Outflow During the Year (A)+(B)+(C) (1,337.55) 202.20
Opening Cash & Cash Equivalents as on 1.4.19 18,088.98 16,751.45
Closing Cash & Cash Equivalents as on 31.3.20 16,751.43 16,953.65 Cash & Cash Equivalents
Cash in Hand and with RBI 10,861.45 10,917.60
Cash with Other Banks 5,890.01 16,751.46 6,036.07 16,953.67
For the year ended 31.3.2020
Amount Amount Amount Amount Amount Amount
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v41
I. SIGNIFICANT ACCOUNTING POLICIES1. BASIS OF PREPARATION :-
The financial statements have been prepared and presented under the historical cost convention andcomply with generally accepted accounting principles, the statutory requirements prescribed under theBanking Regulation Act 1949 and the Goa State Co- operative Societies Act 2001, circulars andguidelines issued by the Reserve Bank of India (RBI), National Bank for Agriculture and RuralDevelopment (NABARD) from time to time, the Accounting Standards (AS) issued by the Institute ofChartered Accountants of India (ICAI) and the current practices prevailing within the banking industry inIndia, except as otherwise stated.
2. USE OF ESTIMATES :The preparation of financial statements requires the management to make estimates andassumptions that affect the reported amount of assets, liabilities, expenses, income and disclosure ofcontingent liabilities as at the date of the financial statements. Management believes that theseestimates and assumptions are reasonable and prudent. However, actual results could differ fromestimates. Any revision to accounting estimates is recognized prospectively in current and futureperiods.
3. INVESTMENTS :i. The Bank discloses its investment under the following categories
a) Central and state Government Securities.
b) Bonds of Public Sector Undertakings
c) Shares in Cooperative Institutions
d) Debt Mutual Fund
e) Other Investments
ii. The valuation of investment in these categories has been done as follows.
a) The Govt. Securities are classified into three categories viz, HTM, AFS & HFT. Investments in HTMcategory are carried at acquisition cost. The premium if any paid on acquisition of the investmentsunder this category is amortized over the remaining period of maturity.
b) Investment in AFS and HFT categories are marked to market whereby aggregate appreciation ifany is ignored and depreciation is fully provided for.
iii. Broken period interest in respect of investment is treated as an item of revenue under Profit & Lossaccount.
A PSU Bonds are marked to market and aggregate appreciation is ignored and depreciation is fullyprovided for.
B. Shares in Cooperative Institutions are carried at acquisition cost.
4. ADVANCES :Advances are classified in accordance with the prudential norms prescribed by RBI. Advances are classifiedinto categories viz. standard, sub-standard, doubtful and loss Assets, borrower wise. Advances stated in theBalance Sheet are net of provisions made for Non Performing Assets. Recoveries in advances areappropriated first towards charges, then interest and thereafter towards principal amount.
Provision on advances is made as per IRAC (Income Recognition and Assets Classification) Norms as perRBI guidelines.
The Provision on Standar d Assets made ` 24.27 lakh as per the RBI Prudential Norms, in the opinion ofthe mana gement is not the true loss f or the Bank.5. FIXED ASSET & DEPRECIATION :
Leasehold Lands are stated at cost less amortisation. Vehicles, Furniture & Fixtures & Computers, Plant& Machinery are stated at cost less depreciation.
Land : - land is stated at the acquisition cost.
Premises : - These are stated at revalued amount less depreciation.
Cost includes incidental expenses incurred on acquisition of assets.
NOTES FORMING PART OF THE BALANCE SHEET AND PR OFIT AND LOSSACCOUNT FOR THE YEAR ENDED MARCH 31, 2020.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
42v v
i. Premises (including revaluation) are depreciated on written down method @ 10 %p.a.
ii. Computers are depreciated on straight line method @ 33.33 % p.a.
iii. Vehicles are depreciated on written down method @ 20 % p.a.
iv. Plant and machinery depreciated on written down method @ 15 % p.a.
v. Furniture & fixture depreciated on written down method @ 10 % p.a.
Depreciation on the fixed assets purchased during the year is charged for the entire year, if the asset ispurchased and retained for 180 days and more or else the same is charged at 50% of the normal rate.
6. REVENUE RECOGNITION:-Income and expenditure are generally accounted on accrual basis, except the following :
a) Interest on Non-performing advances and non performing investments is accounted on realisationas per norms laid down by Reserve Bank of India.
b) Interest on overdue bills, commission (other than Government business), Exchange,Brokerage and rent on lockers are accounted on realization.
c) Dividend is accounted when the right to receive the same is established.
d) In case of suit filed accounts, related legal and other expenses incurred are charged to profit & lossaccount and on recovery the same are accounted as income.
7. DEFINED BENEFIT PLANS:a) GRATUITY: The employee gratuity fund scheme is funded by the Bank and managed by LIC India,
HDFC Life Insurance and Bajaj Allianz Insurance who in turn manages their funds as perguidelines. The Bank meets its Employee Gratuity Fund and Leave Encashment obligations oncash basis by charging the same to P& L A/c in case of balances in funded accounts are insufficientto meet the obligations. However, the bank has met its entire obligation towards the payment ofgratuity to its retired staff during the year. The balance outstanding in these funds invested as on31.03.2020 is ̀ 48,28,84,708/- . In addition, provision of ` 1,47,50,000/- is made during the currentfinancial year. Gratuity amounting to ` 73,36,304/- is paid to the retired staff.
b) Pension: The employees of the bank have been drawing pension from EPFO, which is beingextended to them from out of the accumulation by way of EPF contribution from the Employer'sshares of PF contribution. Employer’s contribution to EPFO is charged to Profit & Loss account.
c) Leave encashment paid was charged to profit & loss Account on cash basis. The bank has nowstarted contributing to Leave Encashment fund with HDFC Life Insurance. The balanceout standing in these account as on 31.03.2020 is ` 6,06,83,053/-. In addition, provision of ` 2.00crore is made during the current financial year
8. NO PROVISION IS RECOGNIZED FOR :a) Any possible obligation that arises from past events and the existence of which will be confirmed
only by the occurrence or non occurrence of one or more uncertain future events not wholly withinthe control of the bank.
b) It is not probable that an outflow of resources embodying economic benefits will be required tosettle the obligation or
c) A reliable estimate of the amount of obligation cannot be made
II. NOTES ATTACHED TO AND FORMING PART OF ACCOUNTS:a) The Bank in compliance to RBI Directives, decided to bifurcate its business into Goa unit & Daman
& Diu Unit as separate institutions as on 01.04.2017. Accordingly, the process of bifurcation hasbeen initiated. As per request submitted by the Bank, the Central Registrar of Cooperative Societ-ies issued order dated 01.04.2016 denotifying the Bank as a Multistate Cooperative Society w.e.f.01.04.2016.
By notification dated 28.07.2017, the Registrar of Cooperative Societies, Goa hasrestored the status of Bank as The Apex Cooperative Bank and maintained the original registrationof the Bank w.e.f. 07.11.1963.
The Bifurcated Goa Unit and Daman & Diu Unit are being managed by separate administrativecommittees of the said units. However, due to non issue of In principal Approval for DDSCB by theRBI, the consolidated Financial Statements are prepared and presented.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v43
INCOME I. Interest Received 4,344.94 4,512.05
II. Commission & Exchange 9.60 5.98
III. Service Charges & Processing Fees 58.51 52.44
IV. Other Receipts 17.32 18.55
V. Excess Provisions Reversal 90.88 34.64
TOTAL RUPEES 4,521.25 4,623.66EXPENDITURE I. Interest Paid 3,028.26 3,173.23
II. Salaries & Allowances 904.18 558.71
III. Directors Sitting Fees 0.51 0.28
IV. T.A./D.A. of Management 1.31 2.86
V. Rent, Taxes, Insurance & Electricity 15.24 17.39
VI. Premium paid to D.I.C.G.C. 33.34 101.57
VII. AMC 11.14 12.09
VIII. Amortisation of Premium-HTM Sec. 0.28 0.68
IX. Depreciation 26.28 40.51
X. Establishment Expenses 37.46 52.62
XI. Provisions : 108.55 241.08
XII. Balance Of Profit 354.72 422.66
TOTAL RUPEES 4,521.25 4,623.66LIABILITIES I. AUTHORISED CAPITAL 1,000.00 1,000.00
II. Issued, Subscribed & Paid Up 599.54 754.49
III. Share Application Money 8.62 34.67
IV. Reserve Fund And Provisions 1,538.63 1,641.06
V. Deposits & Other Accounts 54,213.75 54,614.20
VI. Interest Payable 3,252.36 3,489.01
VII. Clearing Adjustments 111.04 83.02
VIII. Other Liabilities 389.35 151.04
IX. Overdue Interest Reserve 76.89 76.79
X. Bills For Collection 2.62 4.56
XI. Acceptances , Endorsement 72.22 41.87
TOTAL RUPEES 60,265.02 60,890.70ASSETS I. Cash 2,603.71 2,564.28
II. Balances With Other Banks 1,398.58 1,173.09
III. Term Deposits With Banks 25.00 25.00
IV. Money At Call 5,318.00 7,206.71
V. Investments 8,146.67 7,332.17
VI. Advances 23,769.85 26,661.39
VII. Interest Receivable 818.06 994.79
VIII. Fixed Assets Less Depreciation 709.24 780.95
IX. Other Assets 337.58 346.19
X. Clearing Adjustments 51.15 66.97
XI. Bills Receivable 2.62 4.56
XII. Branch Adjustment 704.79 929.30
XIII. Daman Diu Bifurcation 15,811.55 12,690.13
XIV. Acceptance Endorsement 72.22 41.87
XV. Profit & Loss A/C 495.98 73.32
TOTAL RUPEES 60,265.02 60,890.70
Particulars 31 March 2019 31 March 2020
(` in Lakh)
b) The bifur cated figures f or the Daman & Diu Region as per Bank’ s financial position of 31.03.2020are as under:-
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
44v v
Loans & Ad vances to Director s
1 Mr. Premanand Chawdikar HCC to IND W/Cl for Liquor business 1.35 Regular
2 M/s. Kudnekar Granites Prop.: MT SSI Expansion of business 12.43 Regular
Mr. Krishna V. Kudnekar
(applicant) Mrs. Kavita K.
Kudnekar (Co-applicant)
3 Mr. Rajesh Kalidas Desai ST CC KCC D/F Maint of Hort Garden 2.98 Regular
4 Mr. Rajesh Kalidas Desai HCC to IND W/C for business 20.16 Regular
(Prop.:Atharava Agrovat
Agencies)
5 Mr. Pandurang Narayan Kurtikar MT Non Agri House Repairs PLS 0.19 Regular
6 Mr. Anant M Chodankar MT Agri. Loan Const. of Poly House 3.20 Regular
(MD-I/C)-
Ex offico Director
7 Mr. Anant M Chodankar Staff Loan Construction of House 5.44 Regular
(MD-I/C)-
Ex offico Director
8 Mr. Anant M Chodankar Urban Loan Consumer Durables 5.83 Regular
(MD-I/C)-
Ex offico Director
Loans & Ad vances to Relatives of Director s
1 Mr. Kunal Ulhas Phaldessai MT Car Loan Purchase of Car. 4.55 Regular
2 Mr. Subhash U. Fal Desai MT Dairy Purchase of Animals 1.96 Regular
3 Mr. Subhash U. Fal Desai MT Dairy Purchase of Animals 1.95 Regular
4 Mr. Subhash U. Fal Desai MT Dairy Purchase of Animals 4.23 Regular
5 Mr. Vishnu P Naik ST CC KCC W/C to Dairy business 0.90 Regular
6 Mr. Chandrashekhar Narayan LT Hsg. Housing Loan 1.61 Regular
Kurtikar Loan(Gharkul)
7 Mrs. Premabhai Chodankar MT Agri. Loan Construction of Poly 4.40 Regular
House
71.18
c) Under normal business transaction, the Bank has sanctioned loans to the directors and their relatives,the
details of which are annexed here below.
Advances to director s, their relatives, companies/firms in whic h the y are interested :
Amount
O/S as on
31.03.2020RMKNature of Facilities
Type of LoanParticularSr.
No.
(` in Lakh)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v45
d) The system of reconciliation on day to day basis before generating day end report is introduced.
Rigorous steps are taken to reconcile all pending entries. Special team is put in place to reconcile
pending entries. As on 31st March 2020, an amount of ` 142.65 lakh under assets remained to be
reconciled.
The age-wise c lassification of the pending entries under branc hes adjustment account as on31st March 2020 is summariz ed belo w.
No. of DebitEntries
Amount ofDebit
No. of CreditEntries
Amount ofCredit
TimePeriod
Up to to 3 months 100 126.33 104 157.54
3 to 6 months 83 91.80 75 128.35
6 months to 1 year 160 542.89 156 131.08
1year to 3 years 186 198.75 184 394.94
3 years to 5 years 48 2.11 30 1.35
Above 5 years 201 13.70 190 19.67
TOTAL 778 975.58 739 832.93
Net – Debit- Balance 142.65
e) The contingent liability on account of Bank guarantees issued are ` 2.89 crore.
f) Previous year's figures have been regrouped or rearranged, wherever necessary and are stated in
bracket.
III. COMPLIANCE WITH THE ACCOUNTING STANDARDS AND OTHER LEGAL REQ UIREMENTS:
a) No payment is made to relatives as specified under accounting standard-18 issued by the Institute of
Chartered Accountants of India (ICAI). The Staff member related to one of the Directors of the Board of
the Bank is shown here below.
There are no specific directions/guidelines from the Reserve Bank of India and Registrar of cooperative
Societies, in respect of disclosure to be made for segment reporting as required under accounting
standard-17 issued by the Institute of Chartered Accountants of India. 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 issued by the Institute of Chartered Accountants of India (ICAI) is not
applicable.
c) The Bank has ascertained that there is no material impairment of any of its assets and as such no
provision under accounting standard 28 issued by the Institute of Chartered Accountants of India (ICAI)
is required.
1 Mrs. Rajeshree R. Naik Wife Employment in the Bank (Salary) 10.67
Sr.
No.Name of the related
party
Relationship
with
DirectorNature of transactions
Amount of
Transaction
per Annum
`
(` in Lakh)
(` in Lakh)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
46v v
1 Capital to Risk Asset Ratio 4.35% 7.31%
a) Tier I 2.48% 5.15%
b) Tier II 1.86% 2.16%
2 Movement of CRAR
a) Tier I 3927.37 9054.98
b) Tier II 2948.17 3789.63
3 Investments:-
SLR:-
a) Book Value of Investments 60836.68 55155.00
b) Face Value of Investment 61932.90 55669.50
c) Market Value of Investments ---- ----
Non SLR:-
a) Book Value of Investments ---- ----
b) Face Value of Investment ---- ----
c) Market Value of Investments ---- ----
4 Advances against Real Estate, Construction business, housing 30134.83 22492.10
5 Advances against shares & debentures ---- ----
6 Advances to directors, their relatives, companies/firms in which
they are interested:
a) a) Fund -based 64.26 71.18
b) b) Non-fund –based (Guarantees, L/C etc.) ---- -----
7 Cost of Deposit – Average cost of deposit 6.41 6.55
8 NPAs:
a) Gross NPAs 13409.38 16432.43
b) Net NPAs 8479.92 10749.70
c) % of Gross NPAs to total Advances 8.56% 10.32%
d) % of Net NPAs to total Advances 5.41% 6.75%
9 Movement of NPAs
a) Gross NPAs
Opening Balance 11465.23 13409.38
Add.: Addition during the year 4222.91 4853.97
Less : Reduction during the year 2278.76 1830.92
Closing Balance 13409.38 16432.43
Disclosure of various information as required by RBI vide their