History of Bank THE VARACHHA CO-OP. BANK LTD.

The people in Saurashtra, located in western part of Gujarat, are always depending upon the rainfed cultivation. As a search for income generation in an alternate way for their survival, they have chosen Surat city, where there is a good scope for trade in Diamond and Textile sector. Well off people have entered into the trading sector and the others on labour front. In a phased manner, the population of the people, involved in diamond trade, belonging to Saurashtra increased to a sizeable extent in Surat and in particular in the area of Varachha. It was become obvious for a necessity of a Bank for their own people; the efforts were taken by a well known philanthropist, story writer and columnist in local dailies, Mr. P. B. Dhakecha, founder chairman of our Bank. As such, The Varachha Cooperative Bank Ltd., came into existence on 16th October 1995 and Inauguration ceremony was done by on the hand of Shree Swami Sacchidanand. Some of our directors are belonging to diamond trade, who are official site holders of getting rough block diamonds from foreign countries. At the end of the first financial year the number of shareholders was 4484, Share Capital 57.44 lacs, Deposits Rs.2.70 crores, Advance Rs.2.07 crores and profit stood at 4.77 lacs. Our Bank has gradually developed the Banking activities and at the end of 5th year, with a network of 5 branches, the share capital and reserves raised to more than 8 crores and the deposits have crossed 100 crore mark, which is a rare phenomenon in Cooperative Banking Sector in all over India and the number of depositors have increased 58222. The Bank has been awarded with First Prize for the best performance among all Cooperative banks in Surat District during the FY.2000 - 01. At present the share capital and reserves raised to nearly 40 crores. The deposit is Rs.160.70 crores Advances 78.21 crores. Total 7 branches and 130 staff members. In spite of run in a cooperative sector in the year 2001, due to Madhavpura episode, the Bank has not only survived but also developed the base without any difficulty due to confidence reposed upon by the public with our Bank. We have introduced the system of quick delivery of vehicle loans, with minimum papers and documents, without any hidden charges. Other advances of our Bank have been spread over on the following categories:
y y y y y y y y y

Vehicle Loan Loan against gold ornaments Loan on personal guarantees (Surety Loan) Retail trade business Professional and Self employed Loan against Banks own deposits/NSC Cash credit hypothecation on stocks on trade Technology Upgradation Finance (TUF) loan with subsidy

Besides the banking activity, the Bank has entered into the insurance business arrangement with IFFCO-TOKIO. We are also having tie-up arrangements with insurance companies on referral basis, as per RBI guidelines. We have covered with accident insurance cover for the shareholders, depositors and borrowers of the Bank and we have received settlement to the tune of Rs.1 crore from the insurance companies. The data pertaining to our Bank is being sent to Reserve Bank of India, banking regulator of the country, through e-Mail under offsite surveillance system (OSS) for the past 3 years.

Our Bank has been fully computerized banking system, right from inception and present programme, front end Visual Basic and the back end (database) Oracle 10G Platform. We are having the staff members, most of them belonging to younger generation, with energetic and enthusiastic approach in Customer Service. The staff attendance is being controlled under Biometric device system. CCTV system is being installed to monitor the alertness of the entire banking activity, fitted with cameras at the vital points. Our Bank has introduced Mobile Banking and Any Branch Banking (ABB) in the year 2007. Our future plan is the introduction of on and off site ATMs and Core Banking System.

Other vital factors of our Bank are as follows:

y y y y y y y

y y y y y y y y

One of the leading cooperative Banks in South Gujarat Audit grade, continuously at A, from the beginning Any Branch Banking (ABB) CCTV system is being installed to monitor the alertness of the entire banking activity, fitted with cameras at the vital points. Bank has started E-payment facility for the customers of the Bank for the purpose of payment of Income-Tax. Personalized Cheque Book are being issued to all the customers of the Bank. RTGS/NEFT facility is also available. Mobile Banking system to customers for getting various details about their accounts like Current Balance, Cheque Return Status, FD Rates, Loan Rates, Various Loan Schemes etc. by way of SMS. Display/provision of VAT machine in Banking hall, for customers approach Strong working capital, Deposit base and our investment assets are profit oriented Net NPA continuously at zero percent No default in CRR/SLR Concurrent audit system Implementation of Know Your Customer (KYC) policy Teller system for payment upto Rs.20000 in CA and Rs.10000 in SB Franking of adhesive stamp duty arranged by Revenue Dept. of Gujarat State.

Besides banking, the Bank has done a little for some noble social cause, by conducting blood donation camps. The bright wards of the shareholders are being given with educational scholarship for their future study.

With steady growth and strength, we are moving towards higher status in the Banking arena and as well as in Cooperative Sector. Attractive Deposit Rate With Effective From : 01.12.2010

Duration 30 Days Auto renewal 30 Days To 90 Days 91 Days To 180 Days 181 Days To 1 Year 1 Year To 2 Year Below 2 Year To 3 Year Below 3 Year To to above

Upto & including Rs.15 Lakhs 5.50 5.50 6.00 7.00 7.50 8.00 8.50

For Deposits above Rs.15 Lakhs but less than Rs.1.Crore 5.50 5.50 6.00 7.00 8.00 8.50 9.00

Banking Service

Any Branch Banking (ABB) Customer can transact his/her account from any branches of the bank like cash receipt, payment, transfer, balance enquiry,statement/passbook printing, deposit outward clearing etc. CCTV Monitoring Banks all branches has CCTV Camera and all this connected and monitored at Head Office. With the help of CCTV Bank is able to search any fraud with customer or employee of the bank. E-Payment Facility Bank has started E-payment facility for the customers of the Bank for the purpose of payment of Income-Tax. Personalized Cheque Book Personalized Cheque Book is being issued to all the customers of the Bank. RTGS/NEFT Facility Real Time Gross Settlement/ National Electronic Fund Transfer Facility available to the customer of the bank. By this facility customer can transfer his balance through out India of any Banks, which is member of RTGS/NEFT. Mobile Banking System Now you can get the information such as Balances, Transaction Details, Cheque Status, Deposit rates and much more sitting at your home or office. Bank has a centralized mobile banking facility. Through this facility customer can know his/ her balance via SMS for getting various details about their accounts like Current Balance, Cheque Return Status, FD Rates, Loan Rates etc. Bank also send regularly SMS to the registered customer like cheque Inward/ Outward return details, FD rates, any event etc. Facility (See Example given below) Group Balance Enquiry Inward Return Outward Return Group Balance Back dated

Message Type 1 2 3 4

Mini Statement Deposit Rate Advance Rate Cheque Status Help

5 6 7 8 9

For Example if you want to know your Group Account Balance you should opt message menu and send message option in your mobile and simply type 1 and send it to Mobile No. 98258 00042 and within short period you can get your balance by SMS from the V.C.Bank. Same way you can follow 2, 3, 4 etc. for various enquiry by SMS. VAT Machine VAT machine is available to the all branches of the bank in the banks customer passage. With the help of VAT machine customer can view various details of his/her A/c. like Balance, Statement etc. For avail this facility customer should have registered his account with bank and get 4 digit password from the banks Officials. Demand Draft Facility Demand Draft Facility is available for DDs all over India. Bank has tie-up arrangement with Private and Subsidiaries of SBI Group Bank at nominal commission.

Teller Payment System Cash Payments upto Rs.20000/- in Current Accounts and Rs.10000/- in Saving Accounts are available directly from teller payment cashier. Locker Facility Locker Facility is also available at Banks Kamrej, Kapodra and Katargam Branches at nominal rates of rent. There are various types of lockers in different sizes. Franking of Adhesive Stamp Bank has Franking Machine under license from Government for stamping of Adhesive Stamp arranged with Revenue Dept. of Gujarat State at Gandhinagar.

Clearing Process Trading Period The trading hours is from 8:45 to 13:45 Monday through Friday. The trade matching system will transmit the most updated transaction data to the Clearing Department which will in turn transmit such data to clearing members for their back office operations. Post-Trading Period The system will activate the daily mark-to-market calculations on 14:30 Monday through Friday. A settlement price will be determined for each contract at the end of the market hours, which will be transmitted from the trade matching system to the clearing system and serve as a basis for margin calculations. After the daily mark-to-market calculation, the clearing system will disseminate the relevant position data to the clearing members for their back office operations. After the trade confirmation, clients with insufficient margins have to post additional margin in their accounts to meet the margin requirements. The settlement banks will receive from the Clearing Department a list of the clients who are required to post additional margins in their margin accounts and will in turn transmit the results of the margin transfer back to the Clearing Department.

1.

Clearing members post margin for each open position before trading.

2. During trading hours, the Clearing Department of the TAIFEX checks clearing member s' positions and margin. 3. If the amount of the margin is inadequate, the Clearing Department of the TAIFEX will notify both the settlement banks and the clearing members. The clearing member posts required margins into its account in the 4. settlement bank and informs the TAIFEX by fax. 5. The ETS closes at 13:45, Monday through Friday. 6. The Clearing Department calculates required margin of all the open positions. 7. At 15:30, margin deposit deadline. 8. The Clearing Department prepares reports and transmits margin requirement data to the settlement bank. 9. The settlement bank debits clearing member's account and transmits

data back to the Clearing Department. 10 The Clearing Department prepares daily reports and delivers to the clearing members.

Margining Margining is a disciplinary tool that feeds down from the Clearing Department to the clearing members, and from the clearing members to their clients. Clearing members must assume responsibility for the margin requirements set for both their client account and their proprietary account.

---------------------------------------------------------------------------------------------------------------------Disclaimer : Despite all reasonable care given to ensure the accuracy and reliability of the information and the best service provided on the website, Taiwan Futures Exchange bears no legal responsibility in case of any damage or loss incurred from inaccuracy or omission of the information. Taiwan Futures Exchange Add: 14th.FL.,100,Roosevelt rd,Sec.2 Taipei,100,Taiwan,R.O.C. Tel: (02) 2369-5678 Fax: (02) 2365-7272 Email: service@taifex.com.tw

Fix deposits

y y y y y

Earn up to 5.80% p.a for a 6-month term deposit interest paid at maturity1 Securely lock funds away with guaranteed returns2 No set-up, monthly service or management fees Choice of selected interest payments depending on the term; monthly, annually or at maturity Flexible repayment and reinvestment options at the end of the term.

Things you should know

y y

Conditions and fees apply 1.Information is current as at 17 May 2011. Conditions apply. Offer excludes corporate, institutional and government customers. Current rate of 5.80% p.a. based on a 6 month term with interest paid at maturity. Minimum balance of $5,000, maximum balance of $10,000,000. If you are on a special rate and your Term Deposit rolls over automatically, the Term Deposit may be automatically re-invested at a lower rate than the current interest rate. 2.Interest rate adjustment may apply if funds are withdrawn before maturity.

*. This information does not take your circumstances into account. Read the terms, available from any Westpac branch, before making a decision. Issued by Westpac Banking Corporation, ABN 33 007 457 141, AFSL 233714.

Fixed Term Deposit

A safe investment with guaranteed fixed returns
Lump sum to invest? Our Fixed Term Deposit offers a low-risk way of saving while guaranteeing fixed returns on your investment

A choice of 1, 2 or 3 year terms

The Fixed Term Deposit account offers you:
y y y y y

fixed rates guaranteed for the term of your deposit the option for interest to be paid on maturity, or monthly into another bank account the choice of 1, 2 or 3 year terms deposits from 2,000 to 1,000,000 a safe home for your savings.

You can enjoy your interest as a regular monthly income or leave it to accumulate and reap the benefit at maturity - it's up to you. View our current interest rates.

Peace of Mind
At The Co-operative Bank, we ask our customers where they want us to invest their money - and where they don't. Your money will never be used to support regimes that abuse human rights; while, on the positive side, it will always be invested according to sound environmental principles.
Fixed Deposit

In these times of uncertain returns, fixed deposits have become the most recommended banking instruments for financial savings. Fixed Deposit scheme assures you of highly competitive interest rates with this low-risk investment. Current Fixed Deposits Schemes:

To Download Fixed Deposit Application Forms click-here Invest Now in Just 3 easy steps, Download Form to know more...

FAQs on Companys Fixed Deposit What is Company Fixed Deposit ? Company Fixed Deposit is the deposit placed by investors with companies for a fixed term carrying a prescribed rate of interest. Why interest from Company Fixed Deposit is higher than Banks? Company Fixed Deposit has always offered interest which is 2-3% higher than Bank Deposit rate. Because they have to pay higher interest to banks for borrowing money. How are interest payments made? Interest is paid on monthly/quarterly/half yearly/yearly or on maturity basis and paid either through cheque or ECS facility. When is TDS deducted on the interest from Company Fixed Deposits? TDS is deducted if the interest on fixed deposit exceeds Rs.5000/- in a financial year. Which companies can accept Deposit? Companies registered under Companies Act 1956, such as:
    

Manufacturing Companies. Non-Banking Finance Companies. Housing Finance Companies. Financial Institutions. Government Companies.

Upto what limits can a company accept deposit? A Non-Banking Non-Finance Company (Manufacturing Company) can accept deposit subject to following limits.

 

Upto 10% of aggregate of paid-up share capital and free reserves if the deposits are from shareholders or guaranteed by directors. Otherwise upto 25% of aggregate of paid-up share capital and free reserves.

A Non-Banking Finance Company can accept deposits upto following limits:

 

Equipment Leasing Company can accept four times of its net owned fund. Loan or investment company can accept deposit upto one and half time of its net owned funds.

What is the period of the deposit?

  

Company Fixed Deposits can be accepted by a Manufacturing Company having duration from 6 months to 3 years. Non-Banking Finance Company can accept deposit from 1 year to 5 years period. A Housing Finance Company can accept deposit from 1 year to 7 years.

DONT PUT All YOUR EGGS IN ONE BASKET The company deposits should be spread over a large number of companies. This will help the investor to diversify risk among various companies/industries.It is advisable that Investors should not put more than 10% of their total investible funds in one company.

Creating a recurring bill or deposit

One of the features in Microsoft Money, is the ability to create recurring bills and deposits. This allows Microsoft Money to calculate budget entries, cash flow forecast and also to automatically enter transactions into your account registers. To create one, you need to go to press the 'Bills Summary' option on the left hand side of the Microsoft Money window. Then press 'New' and 'Bill' or 'Deposit'.

Financial Strengths
Rs. in Crores

SRNO

YEAR 31-MAR96 31-MAR97 31-MAR98 31-MAR99 31-MAR00 31-MAR01 31-MAR02 31-MAR03 31-MAR04 31-MAR05 31-MAR06 31-MAR07 31-MAR08 31-MAR09 31-MAR10 31-MAR11

SHARE CAPITAL DEPOSITS ADVANCES NET WORKING HOLDERS PROFIT CAPITAL 4484 5275 5566 5955 6429 6887 7342 8148 8348 9170 9569 10717 11569 12669 13566 18766 0.57 0.77 0.95 1.31 1.82 2.51 3.11 3.44 3.64 3.95 4.04 4.31 4.63 5.24 5.91 7.29 2.70 10.72 17.02 37.54 62.45 101.03 123.04 129.79 139.19 136.27 158.24 162.97 168.27 171.57 224.16 273.95 2.07 6.69 10.39 22.53 39.94 55.21 67.32 67.25 61.64 64.55 59.67 73.26 80.23 92.03 94.89 115.88 0.05 0.51 1.11 1.34 2.09 3.67 4.70 4.73 5.67 3.24 2.38 1.51 2.81 3.02 3.15 4.06 3.57 13.02 23.33 44.60 72.43 115.83 146.41 159.35 175.50 175.07 197.49 208.38 221.15 226.96 279.11 374.50

No. of A/Cs. 3318

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

8638 15912

26398

44229

63320

71836

80490

90940

95512

98501

102317

108906

105674

123260

128516