Rashmi Solanki
New member
Introduction
The Co-operative banks has a history of almost 100 years. The Co-operative banks are an important constituent of the Indian Financial System, judging by the role assigned to them, the expectations they are supposed to fulfil, their number, and the number of offices they operate.
The co-operative movement originated in the West, but the importance that such banks have assumed in India is rarely paralleled anywhere else in the world. Their role in rural financing continues to be important even today, and their business in the urban areas also has increased phenomenally in recent years mainly due to the sharp increase in the number of primary co-operative banks
Some of the co-operative banks are quite forward looking and have developed sufficient core competencies to challenge state and private sector banks.
Though registered under the Co-operative Societies Act of the Respective States (where formed originally) the banking related activities of the co-operative banks are also regulated by the Reserve Bank of India. They are governed by the Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965
In the beginning of 20th century, availability of credit in India, more particularly in rural areas, was almost absent. Agricultural and related activities were starved of organised, institutional credit. The rural folk had to depend entirely on the money lenders, who lent often at usurious rates of interest.
There are two main categories of the co-operative banks.
(a) short term lending oriented co-operative Banks - within this category there are three sub categories of banks viz state co-operative banks, District co-operative banks and Primary Agricultural co-operative societies.
(b) long term lending oriented co-operative Banks - within the second category there are land development banks at three levels state level, district level and village level
The co-operative banking structure in India is divided into following main 5 categories :
1. Primary Urban Co-op Banks:
2. Primary Agricultural Credit Societies:
3. District Central Co-op Banks:
4, State Co-operative Banks:
5. Land Development Banks:
Citizen
Milestone:history
• The Bombay Catholic Urban Co-operative Society was registered on the May 6, 1920, converted to Citizen Co-operative Bank on October 20, 1984.
• The Reserve Bank of India (RBI) by their order-dated October 12, 1984 approved the conversion of the Bombay Catholic Urban Co-operative Credit Society to CITIZEN CO-OP. BANK LTD., to carry on the business of banking.
• RBI issued Citizen Co-operative Bank Ltd. a full-fledged banking licence on December 27, 1989 (Lic No. MH1016p).
• In 1989, RBI authorized Citizen Co-operative Bank Ltd to open and maintain Non-Resident External Rupee accounts.
• The Bank crossed Rs. 100 crores in deposits in 1994-95.
• It was the first co-operative bank to commission and conduct fully – computerized banking operations by 1991.
• Citizen Co-operative Bank Ltd was also the first co-operative bank to be rated by a credit rating agency – CRISIL (Credit Rating Information Services of India Ltd) in January 1995.
• Achieved Scheduled Bank status in October 1996, in recognition of continued excellence in performance
• Attained Multi-State Co-operative Bank status in January 1998
• Introduced Full-Fledged Money changing operations in February 1999
• Commenced the conduct of dematerialisation of shares held in the Bombay Stock Exchange (DeMat), on a fully computerised mode, for customers
CITIZENCREDIT Bank has a niche position among the profit-making co-operative banks. It has enjoyed this frontline status since 1984, in recognition of which it has earned an "A" rating from the Reserve Bank of India. This rating signifies all-round excellence in banking operations, which has been awarded to the Bank annually since 1984.
mission
• To care for and provide complete satisfaction to customers.
• To gain and sustain customer confidence by ensuring high standards of service and banking products to suit all levels of our customer base
• To attain leadership in our area of business through high levels of professional management and keen awareness of peer competition.
• To motivate and upgrade our employees by ensuring continued career growth through training for self-development and job involvement
Vision
Soaring higher and higher the quiet yet solid wing power of the dove, symbol of CITIZENCREDIT Co-op. BANK, which has risen from modest beginnings to emerge as one of the most successful and frontline financial institutions in the co-operative banking sector. A bank supported by thousands of well-meaning customers, enabling it to ascend to newer and yet newer heights.
Profile
Registered Office: Helena Apartments, 57, Mount Carmel Road, Bandra(West), Mumbai – 400 050.
Central Administrative Office: Helena Apartments, 57, Mount Carmel Road, Bandra(West), Mumbai – 400 050.
Website : www.citizencreditbank.com
No. and Date of REGISTRATION: 2905 of May 6, 1920 with the Registrar of Co-op. Societies of the erstwhile Bombay Catholic Urban Co-operative Credit Society, converted into a Bank on October 20,1984, by the Registrar of Co-op. Societies order No. BOM/URB/BOMBAY CATHOLIC R-WARD OF 84 dated October 20, 1984.
The Bank was registered under the Multi-State Co-operative Societies Act, 1984;by the Central Registrar vide Regn. No. MSCS/CR/75/98 dated January 20, 1998.
No. & Date of RBI Licence: MH 1016 p dated December 27, 1989
Rs. in Crores
2005-2006 2006-2007 2007-2008
No. of Branches including H.O. 23 24 27
Extension Counters 4 4 1
Total Staff 336 354 335
Working Capital 880.15 911.21 1130.86
Membership Regular 10501 11733 11967
Nominal 4220 4550 5229
Paid up share capital 13.05 14.70 14.62
Total Reserves and Funds 70.96 85.64 96.11
Deposits Savings 333.19 361.30 394.16
Current 39.32 47.23 74.71
Fixed 370.13 362.67 457.02
Total 742.64 771.20 925.89
Advances Secured 272.11 325.48 474.30
Unsecured 2.07 2.90 2.85
Total 274.18 328.38 477.15
Total % of Priority Sector 70.27% 70.48% 68.86%
Total % of Weaker sector 18.15% 20.23% 16.75%
Borrowings
NHB Refinance 31.02 4.07 28.73
Investments 241.12 246.96 311.28
Net NPAs NIL NIL NIL
Audit Classification A A A
Net Profit for the year 12.75 10.44 11.48
Bod
The Board of Directors as constituted per norms prescribed under the Banking Regulation Act, 1949 of the Reserve Bank of India and the Multi-state Co-operative Societies Act 1984, is comprised of professionals drawn from senior management cadres in the fields of banking, business, marketing, human resources, and communications. As prescribed under the same laws, persons drawn from the SC/ST segment as defined in the Indian Constitution and from the agricultural sector, are also represented on the board.
Each Board member possesses over a decade and more of professional experience and/or association in their respective areas of specialization.
BOARD
Chairman
Mr.Lucian D'souza
Vice Chairman
Mr. Ignatius Pinto
Directors
Mr.John Louis Araujo
Mr. Malcolm Dominic Correa
Mr. Donald Creado
Mr.Archie Cajetan D'Souza
Prof. Mrs. Lilla D'souza
Mr.Peter Claver D'souza
Mr.Edwin J. Gonsalves
Mr. Augustine M Bandya Koli
Mr. Leslie John Hector Lobo
Dr Frederick J De Souza
Dr. Allan K. Saldanha
Managing Director & CEO
Mr.Vere J Carneiro
General Manager
Mr.Harold M Serrao
Technology
CITIZENCREDIT Co-op. Bank was among the first banks in India to automate. It has been an opinion-leader and early-adapter among co-operative banks, and the unprecedented success and growth that the bank has achieved in a short span of 10 years can be attributed to the early decision of the bank to embrace Information Technology in a big way.
All day-to-day operations are managed in-house by the IT Department, independently. Bulk of this success is due to the Bank’s own initiative and diligence and management vision.
The Bank has “internalised” the technologies related to branch automation and day-to-day operations of branch databases and systems. The next set of solutions will address new areas, exploit, and build up on resources that are readily available with the Bank.
The Co-operative banks has a history of almost 100 years. The Co-operative banks are an important constituent of the Indian Financial System, judging by the role assigned to them, the expectations they are supposed to fulfil, their number, and the number of offices they operate.
The co-operative movement originated in the West, but the importance that such banks have assumed in India is rarely paralleled anywhere else in the world. Their role in rural financing continues to be important even today, and their business in the urban areas also has increased phenomenally in recent years mainly due to the sharp increase in the number of primary co-operative banks
Some of the co-operative banks are quite forward looking and have developed sufficient core competencies to challenge state and private sector banks.
Though registered under the Co-operative Societies Act of the Respective States (where formed originally) the banking related activities of the co-operative banks are also regulated by the Reserve Bank of India. They are governed by the Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965
In the beginning of 20th century, availability of credit in India, more particularly in rural areas, was almost absent. Agricultural and related activities were starved of organised, institutional credit. The rural folk had to depend entirely on the money lenders, who lent often at usurious rates of interest.
There are two main categories of the co-operative banks.
(a) short term lending oriented co-operative Banks - within this category there are three sub categories of banks viz state co-operative banks, District co-operative banks and Primary Agricultural co-operative societies.
(b) long term lending oriented co-operative Banks - within the second category there are land development banks at three levels state level, district level and village level
The co-operative banking structure in India is divided into following main 5 categories :
1. Primary Urban Co-op Banks:
2. Primary Agricultural Credit Societies:
3. District Central Co-op Banks:
4, State Co-operative Banks:
5. Land Development Banks:
Citizen
Milestone:history
• The Bombay Catholic Urban Co-operative Society was registered on the May 6, 1920, converted to Citizen Co-operative Bank on October 20, 1984.
• The Reserve Bank of India (RBI) by their order-dated October 12, 1984 approved the conversion of the Bombay Catholic Urban Co-operative Credit Society to CITIZEN CO-OP. BANK LTD., to carry on the business of banking.
• RBI issued Citizen Co-operative Bank Ltd. a full-fledged banking licence on December 27, 1989 (Lic No. MH1016p).
• In 1989, RBI authorized Citizen Co-operative Bank Ltd to open and maintain Non-Resident External Rupee accounts.
• The Bank crossed Rs. 100 crores in deposits in 1994-95.
• It was the first co-operative bank to commission and conduct fully – computerized banking operations by 1991.
• Citizen Co-operative Bank Ltd was also the first co-operative bank to be rated by a credit rating agency – CRISIL (Credit Rating Information Services of India Ltd) in January 1995.
• Achieved Scheduled Bank status in October 1996, in recognition of continued excellence in performance
• Attained Multi-State Co-operative Bank status in January 1998
• Introduced Full-Fledged Money changing operations in February 1999
• Commenced the conduct of dematerialisation of shares held in the Bombay Stock Exchange (DeMat), on a fully computerised mode, for customers
CITIZENCREDIT Bank has a niche position among the profit-making co-operative banks. It has enjoyed this frontline status since 1984, in recognition of which it has earned an "A" rating from the Reserve Bank of India. This rating signifies all-round excellence in banking operations, which has been awarded to the Bank annually since 1984.
mission
• To care for and provide complete satisfaction to customers.
• To gain and sustain customer confidence by ensuring high standards of service and banking products to suit all levels of our customer base
• To attain leadership in our area of business through high levels of professional management and keen awareness of peer competition.
• To motivate and upgrade our employees by ensuring continued career growth through training for self-development and job involvement
Vision
Soaring higher and higher the quiet yet solid wing power of the dove, symbol of CITIZENCREDIT Co-op. BANK, which has risen from modest beginnings to emerge as one of the most successful and frontline financial institutions in the co-operative banking sector. A bank supported by thousands of well-meaning customers, enabling it to ascend to newer and yet newer heights.
Profile
Registered Office: Helena Apartments, 57, Mount Carmel Road, Bandra(West), Mumbai – 400 050.
Central Administrative Office: Helena Apartments, 57, Mount Carmel Road, Bandra(West), Mumbai – 400 050.
Website : www.citizencreditbank.com
No. and Date of REGISTRATION: 2905 of May 6, 1920 with the Registrar of Co-op. Societies of the erstwhile Bombay Catholic Urban Co-operative Credit Society, converted into a Bank on October 20,1984, by the Registrar of Co-op. Societies order No. BOM/URB/BOMBAY CATHOLIC R-WARD OF 84 dated October 20, 1984.
The Bank was registered under the Multi-State Co-operative Societies Act, 1984;by the Central Registrar vide Regn. No. MSCS/CR/75/98 dated January 20, 1998.
No. & Date of RBI Licence: MH 1016 p dated December 27, 1989
Rs. in Crores
2005-2006 2006-2007 2007-2008
No. of Branches including H.O. 23 24 27
Extension Counters 4 4 1
Total Staff 336 354 335
Working Capital 880.15 911.21 1130.86
Membership Regular 10501 11733 11967
Nominal 4220 4550 5229
Paid up share capital 13.05 14.70 14.62
Total Reserves and Funds 70.96 85.64 96.11
Deposits Savings 333.19 361.30 394.16
Current 39.32 47.23 74.71
Fixed 370.13 362.67 457.02
Total 742.64 771.20 925.89
Advances Secured 272.11 325.48 474.30
Unsecured 2.07 2.90 2.85
Total 274.18 328.38 477.15
Total % of Priority Sector 70.27% 70.48% 68.86%
Total % of Weaker sector 18.15% 20.23% 16.75%
Borrowings
NHB Refinance 31.02 4.07 28.73
Investments 241.12 246.96 311.28
Net NPAs NIL NIL NIL
Audit Classification A A A
Net Profit for the year 12.75 10.44 11.48
Bod
The Board of Directors as constituted per norms prescribed under the Banking Regulation Act, 1949 of the Reserve Bank of India and the Multi-state Co-operative Societies Act 1984, is comprised of professionals drawn from senior management cadres in the fields of banking, business, marketing, human resources, and communications. As prescribed under the same laws, persons drawn from the SC/ST segment as defined in the Indian Constitution and from the agricultural sector, are also represented on the board.
Each Board member possesses over a decade and more of professional experience and/or association in their respective areas of specialization.
BOARD
Chairman
Mr.Lucian D'souza
Vice Chairman
Mr. Ignatius Pinto
Directors
Mr.John Louis Araujo
Mr. Malcolm Dominic Correa
Mr. Donald Creado
Mr.Archie Cajetan D'Souza
Prof. Mrs. Lilla D'souza
Mr.Peter Claver D'souza
Mr.Edwin J. Gonsalves
Mr. Augustine M Bandya Koli
Mr. Leslie John Hector Lobo
Dr Frederick J De Souza
Dr. Allan K. Saldanha
Managing Director & CEO
Mr.Vere J Carneiro
General Manager
Mr.Harold M Serrao
Technology
CITIZENCREDIT Co-op. Bank was among the first banks in India to automate. It has been an opinion-leader and early-adapter among co-operative banks, and the unprecedented success and growth that the bank has achieved in a short span of 10 years can be attributed to the early decision of the bank to embrace Information Technology in a big way.
All day-to-day operations are managed in-house by the IT Department, independently. Bulk of this success is due to the Bank’s own initiative and diligence and management vision.
The Bank has “internalised” the technologies related to branch automation and day-to-day operations of branch databases and systems. The next set of solutions will address new areas, exploit, and build up on resources that are readily available with the Bank.