THE GREATER BOMBAY CO-OPERATIVE BANK … annual report_2012...61ST ANNUAL REPORT 2012-13 3 NOTICE Notice is hereby given that the 62nd Annual General Meeting of The Greater Bombay

61ST ANNUAL REPORT 2012-13

1

THE GREATER BOMBAY CO-OPERATIVE BANK LIMITED

Registration No. 20277 Dated 15-11-1952 RBI Licence : UBD/MH/867/P/Dated 6-10-1987

Regd. Add. : G.B.C.B. House, 89, Bhuleshwar, Mumbai- 400 002. Corporate Office : Baldota Bhavan, 3rd Floor, 117, M. K. Marg,

Churchgate, Mumbai - 400 020. Tel: 6128 5900 Fax: 2207 6989

1. Board of Directors, Management, Auditors and Bankers ............................................................02

2. Notice of the Meeting ...................................................................................................................03

3. Report of the Board of Directors ..................................................................................................04

4. Position at a Glance ....................................................................................................................13

5. Balance Sheet as at 31st March 2013 ..........................................................................................14

6. Profit & Loss Account for the year ended 31st March 2013 .........................................................16

7. Schedules ....................................................................................................................................17

8. Notes to the Balance Sheet and Significant Accounting Policies ................................................26

9. Cash Flow Statement ..................................................................................................................39

10. Internal Auditor’s Report ..............................................................................................................41

11. Statutory Auditor’s Report ...........................................................................................................43

12. Progress at a Glance ...................................................................................................................45

13. Branch Network ...........................................................................................................................46

14. Other Offices ...............................................................................................................................47

15. Special Health Check Up Plan ....................................................................................................49

16. GB - MConnect ............................................................................................................................50

17. Information for Members .............................................................................................................52

2

BOARD OF DIRECTORS

Shri. Narendrakumar A. Baldota, B. Com. Chairman

Shri. Shantilal B. Chhajed, B.A., B.Com., FCA Vice Chairman

Smt. Madhuri P. Baldota, B.A.(Hons.) Director

Shri. Ashok B. Vakharia, B.Com. Director

Shri. Anand P. Ahire Director

Shri. Parasmal P. Golecha Director

Shri. Subhash R. Baldota, B.Com. Director

Shri. Punkaj J. Mehta, B.E. (Electrical) Director

Shri. Manmohansingh H. Ratti, Dip.in Hotel Mgmt. Director

Shri. Shrenik N. Baldota, B.Com. Director (co-opted)

Shri. Shreedhar M. Paraande, M.Sc.,LLM.,CAIIB, A.I.B. (London) Director (co-opted)

Shri. Nandkumar Rege, B.Com., CAIIB Director (Staff Representative)

Shri. Prabhakar Chavan Director (Staff Representative)

Shri. Narendra D. Behere, B.Com., LLB, CAIIB Chief Executive Officer

MANAGEMENT

Shri. Shekhar A. Desai Sr. General Manager M.Com (Hons.), LLB (Gen.), CAIIB (I), ACA, DISA

Shri. Syamal K. Basak General ManagerB. A., CAIIB

Shri. Rohit BhujbalGeneral ManagerM.A., M.B.A., CAIIB

STATUTORY AUDITOR

M/s. V. J. Kulkarni & Associates (Chartered Accountants)

INTERNAL AUDITOR

M/s. Devdhar Joglekar & Srinivasan(Chartered Accountants)

BANKERS

Reserve Bank of India HDFC Bank Ltd.

Maharashtra State Co-op. Bank Ltd. ICICI Bank Ltd.

Mumbai District Central Co-op. Bank Ltd. The Saraswat Co-op. Bank Ltd.


3

NOTICENotice is hereby given that the 62nd Annual General Meeting of The Greater Bombay Co-operative Bank Limited will be held on Friday, 27th September 2013 at 11.00 a.m. at the Indian Education Society, Manikrao Lotlikar Vidya Sankul, Opposite Lilavati Hospital, Bandra (W), Mumbai 400 050 to transact the following business:

AGENDA1. To read and confirm the minutes of the last Annual General Meeting held on 6th August, 2012

and Special General Meeting held on 22nd April, 2013.

2. To receive and adopt the report of Board of Directors and audited Balance Sheet and Profit & Loss account for the year ended 31st March 2013.

3. To note Rectification Report of Statutory Auditors for the year 2011-2012.

4. To consider and adopt the Statutory and Internal Auditors’ Report for the year 2012-2013.

5. To consider and approve the appropriation of the net profit and to declare dividend as proposed by the Board of Directors.

6. To appoint Statutory Auditors for the year 2013-2014 and fix their remuneration.

7. To approve the write-off of NPA accounts against their 100% provision as certified by Statutory Auditor.

8. To seek approval to effect amendment to Bye-Laws in line with the changes in MCS Act and / or directions to be received from RCS.

9. Any other matter (s) with the permission of the Chair.

By order of the Board of Directors

Sd/-

Place: Mumbai Narendra D. BehereDate: 22nd August 2013 Chief Executive Officer

NOTE1. Adjourned Annual General Meeting for want of quorum, if necessary, will be held on the same

date and place after half an hour of the notified time for such meeting.2. Members desiring to ask any questions pertaining to the Balance Sheet, in the Annual General

Meeting, may do so in writing and submit the same to the Bank on or before 20th September 2013.

3. Dividend, when approved by RBI, will be paid to those members whose names appear on the Register of Members as on 31st March 2013.

4. Members may please bring their own copies of the Annual Report as distribution of copies at venue of the meeting is not being contemplated.

5. Members are also requested to bring their Member’s Identity Card issued by the Bank. Please note that persons other than the Members will not be allowed to attend the meeting.

4

Director’s Report 2012-13:On behalf of the Board of Directors, I warmly welcome you all at this 62nd Annual General Meeting of the Greater Bank. It gives me pleasure to address you with the financial highlights of the Bank for the financial year 2012-13. I express my sincere thanks to you for your continued support & patronage.

Economic and Banking Review:

Global Economy:

Global economic prospects have marginally improved but the road to recovery in the advanced economies will remain bumpy. World output growth is forecasted to reach 3.25% in 2013 and 4% in 2014. In advanced economies, activity is expected to gradually accelerate, starting in the second half of 2013. Private demand appears increasingly robust in the United States but still very sluggish in the euro area. In emerging market and developing economies, activity has picked up some steam.

There is a renewed surge seen in U.S. and Japanese economy and this has resulted in FIIs pulling out funds from emerging markets. As a result BRICS (Brazil, Russia, India, China and South Africa) markets started losing sheen and it has been replaced by MIST (Mexico, Indonesia, South Korea and Turkey).

The sudden crisis in Cyprus has sparked sale of its gold reserves and fears that other PIIGS nations, along with U.K may also follow suit. This has contributed to the steep fall in gold prices and gold fell to $ 1350/oz, before bouncing back a bit. This has led to gold slowly losing its safe haven status and a hedge status against inflation.

Indian Economy:

Financial Year 2012-13 remained very challenging to the Indian economy. The Gross Domestic Product (GDP) growth slowed down to a decade low at 5% during financial year 2012-13 as against 6.1% during the previous year. The down trend in the GDP was throughout the financial year. Performance of economy was unsatisfactory in all the 3 sectors i.e. Agriculture, Industry and Service.

Overall growth of 1% registered in the financial year ended 31st March 2013, is the worst performance since 1991-92 when industrial output had grown by a mere 0.6%. Industrial output had grown by 2.9% in 2011-12.

Manufacturing, which accounts for almost three-fourths of the IIP, was the biggest drag. It has severely affected the overall economic growth. Manufacturing output grew by just 1.2% in the financial year ended 31st March 2013.

The financial year 2012-13 started with a headline Wholesale Price Index (WPI) inflation of 7.50%, the same remained stubbornly high at around 8% range in financial year 2012-13. Consumer price inflation (CPI) also remained in double digits at 10% during the year.

The Reserve Bank used its tool of rate change to monitor and control economy. Repo rate was reduced on a number of occasions by 100 basis points from 8.5% as of 25th October 2011 to 7.5% as of 19th March 2013. Similarly Cash Reserve Ratio (CRR) was also slashed by 75 basis points from 4.75% as of 10th March 2012 to 4% as of 9th February 2013.

Indian ` suffered worst in the financial year 2012-13. The Indian ` depreciated against US $ by


5

6.5% to 54.33 as of 31st March 2013 as against 51.01 as of 31st March 2012. The Rupee continued the depreciation in its value to touch the life time low of 64.13 on Tuesday, 20th August 2013.

The Equity market also remained volatile throughout the year. The Sensex witnessed its highest fall of over 2 years by over 1100 points to 18219 in a week’s time up to 20th August 2013. The market remained very vulnerable on the news of capital control measures by the RBI. The market was also affected due to market information of quantitative easing by the U. S. Federal Bank from current financial year.

India’s current account deficit (CAD) for the March quarter was $18.1 billion, or 3.6% of GDP, lower than expected and below the $21.7 billion deficit a year earlier. The current account gap for the full fiscal year ending in March 2013 touched a record high of 4.5% of GDP at $87.8 billion, compared with $78.2 billion (4.2%) a year earlier.

There was a major surge in the stressed assets of the banks including NPAs and restructured assets last year. The position may deteriorate further in the current year.

The bond market was very edgy in the first quarter of year. In addition to this, with sudden tightness in the liquidity, bond prices yields have been on the rise. On Friday, 16th August 2013, the benchmark 10-year bond yield ended at 8.895%, almost at a 3 years’ high. Since May 22, 2013, when US Federal Reserve Chief Ben Bernanke first hinted at bringing to a close the monetary easing that led to the flight of money from equities to debt, the 10-year benchmark bond yield risen 173 basis points from 7.167% to 8.895%. Further the volatility continued when the G-Sec yield reached 9.48% on Tuesday, 20th August 2013. This has widely affected all banks as this portfolio is not shielded from the depreciation (amortization across the maturities of the securities) as the same forms part of AFS which requires losses to be marked to market.

The Union Budget presented for the financial year 2013-14 lays a fiscal consolidation plan with a fiscal deficit at 5.3% of GDP this year and 4.8% of GDP in 2013-14 announced by government.

Banking Sector:Indian banks’ credit grew at 17% during the financial year 2012-13, while deposits grew at 17.4%. The Reserve Bank of India has projected a deposits & credit growth of 15% & 14% respectively.

The banking industry had to pass through stress in the financial year 2012-13 due to subdued economic growth in the country. Lower growth in all 3 sectors such as Agriculture, Industry and Service, high inflation (WPI) affected Indian banking industry.

Thus, the quality of assets got affect leading to increase in the Non Performing Assets (NPAs) of banks. Considering the recent trend, the Banking industry may face extra stress on profitability in the current year, due to additional provisioning on increasing NPAs and falling G-Sec prices.

97th Amendment to the Constitution & Special General Meeting:The Maharashtra state has issued the ordinance dated 14th February 2013 in view of the 97th Constitutional amendments and published the Model Bye-laws incorporating the required changes as per the amendments which needs to be adopted by all the co-operative banks by convening a Special General body meeting. Accordingly the Bank convened a Special General Body meeting on 22nd April 2013 and adopted the same.

Statutory Audit:

As per the 97th amendment to the constitution, the Bank appointed M/s. V. J. Kulkarni & Associates Chartered Accountants as Statutory Auditor of the Bank for the FY 2012-13. We are thankful to them for timely completion of audit and offering suggestions.

6

Financial Performance:

` In CroresParticulars March 2012 March 2013Deposits 1300.8 1444.6Savings 338.9 378.3Current 70.4 64.4Term 891.5 1001.9CASA % 31.5% 30.6%Advances 629.2 914.5Commercial Advances 341.1 346.5Others 288.1 568.0Business Mix 1930.0 2359.2Share Capital 25.5 25.4Net Worth 87.7 83.7Operating Profit 14.7 8.4Net Profit 9.2 0.9CRAR 17.7% 16.9%Gross NPAs 3.81% 5.95%Net NPAs 2.55% 4.97%

Deposits increased by ` 143.8 cr at a growth rate of 11.1%, predominantly due to increase in the time deposits by ` 110 cr.

Advances increased by ` 285.3 cr at a growth rate of 45.3%.

Business mix also increased by ` 429.2 cr with a 22.2% growth.

Total income increased by ` 13.9 cr during the year at a growth rate of 8.7%.

Total Interest income also increased by ` 11.6 cr at 8.4%.

Total expenses also increased by ` 22.2 cr at 14.8%.

Net Profit reduced by ` 8.3 cr. The major reasons includes higher interest expenses outflow on time deposits, BDDR provision, increase in the wage bills, etc.

Net Worth decreased to ` 83.7 from ` 87.3 cr.

CRAR decreased by 80 bps to 16.9% from 17.7% a year before.

As a result of economic slowdown, Gross NPAs (%) and Net NPAs (%) increased to 5.95% and 4.97% respectively as against 3.81% and 2.55% a year before.

Capital Adequacy Ratio:

The Bank continues to have a comfortable capital adequacy ratio of 16.9% as against the minimum prescribed level of 9% by RBI.

Broad Basing of Clientele:

The Bank adopted new business development strategies under the captainship of Mr. Narendra D. Behere - Chief Executive Officer which yielded good results.

The Bank thrust was on broad basing the clientele in deposits & advances segments by reaching out to the more & more customers.


7

The Bank initiated the concept of celebrating various Business Weeks & Fortnights to boost the business under various segments such as Saving Bank Accounts, Current Accounts, Gold Loans, BSLI (Birla Sunlife Insurance), Mobile Banking – registrations & transactions, Credit business Referrals, etc.

The Bank recorded visible increase in business of all segments during the last year because of enthusiastic & positive approach of all the staff members duly guided by top management of the Bank.

Mr. Behere also took active interest in staff development and awareness. As a result Staff Meets were arranged in batches for all staff members where he addressed staff members on the financial standing of the Bank, opportunities and challenges ahead.

Aadhaar Based Subsidies Credits to Customers in their Accounts:

The Government of India (GOI) has rolled out “Aadhaar Cards” for identification of citizens of the country through Unique Identification Authority of India (UIDAI).

Government of India is also planning to make Aadhaar number compulsory to get the benefit of subsidies announced by the Government under various schemes.

The Bank has been registered with the National Payment Corporation of India (NPCI) as a Beneficiary Bank for receiving government subsidies under Aadhaar Based Payment System (ABPS). Hence all Greater Bank customers can avail of such facility.

Bancassurance Tie-Up:

Life Insurance: Greater Bank & Birla Sunlife Insurance Co. Ltd.

The Bank had entered into a Corporate Tie-Up arrangement with Birla Sunlife Insurance Co. Ltd. in August 2010. The tie-up arrangement was for 3 years. The results are encouraging and the tie-up arrangement has been renewed for further 3 years. Customers can be benefited with this tie-up.

General Insurance: Greater Bank & Oriental Insurance Co. Ltd.

The Bank has also entered into a Corporate Tie-Up arrangement with Oriental Insurance Co. Ltd. for facilitating general insurance business for its customers. The tie-up arrangement is for 3 years.

Appropriation of Net Profit:

Appropriations of the net profit for the financial year have been proposed as follows:

` In CroresParticulars 2011-12 2012-13Net Profit available for appropriations 9.2 1.9Statutory Reserves 2.3 0.2Dividend 3.7 *Dividend Equalization Fund 0.01 -Staff Welfare Fund 0.05 -Members’ Welfare Fund 0.13 -General Reserve 2.0 -Balance in Profit and Loss Account 1.0 1.7

* In view of stress on profitability, dividend is proposed at a rate of 6% amounting to ` 1.5 cr on pro-rata basis from the balance in Profit & Loss Account subject to prior approval of the RBI.

8

Deposit Insurance:

Bank deposits up to ` 1 lac are insured by DICGC. Necessary premium has been paid up to date.

Asset Quality:

The Banking industry also severely affected due to the rising bad loans. In the June quarter, Gross NPAs in the Banking system grew by 12.02% to ` 2.06 trillion and formed 3.85% of the industry’s gross advances. The deterioration in the quality of assets can be assessed by the accretion of fresh NPAs. The bad loans in isolation do not reveal the gravity of the problem. They need to be seen along with restructured assets. The combination of gross NPAs and restructured assets in March 2013 has been 9.25%. Loan recoveries are also getting hampered due to cash flows issues. The Standards & Poor rating agency expects that the non performing assets ratio to remain high in next 2 years.

The Gross and Net Non Performing Assets (NPAs) as of 31st March 2013 of the Bank are 5.95% and 4.97% respectively as against 3.81% and 2.55% as of 31st March 2012. The total recovery during the year is ` 8.6 crs including ` 7.6 crs in written-off accounts (inclusive of Overdue Interest Reserve). Though there has been increase in the NPAs, there is adequate security cover and stringent measures are being taken to effect recoveries.

Audit and Inspection:

Bank has put in place various types of audit as per RBI guidelines:

• Concurrent Audit: All branches and Centralized Advances Cell (Bandra Reclamation), CPO (Ghatkopar), Treasury and Investment Operations (Corporate Office) and Demat Cell were covered under the concurrent audit during the year 2012-13.

• The Audit department monitors the compliance position of the audit observations and irregularities.

• Stock audit of advances of ` 25 lacs and above is in place for monitoring the large borrowal accounts.

• Internal Audit: All branches including Centralised Cells and Administrative offices are covered under Internal audit.

• Information System (IS) Audit: All branches and Administrative offices are covered under IS audit.

• RBI Inspection: The Reserve Bank of India carried out their XXVII Statutory inspection of the Bank as of 31st March 2012 in August 2012. We have forwarded the compliance report to RBI. The Board is grateful to the RBI officials and all the auditors for their valuable guidance during the course of audit and inspection.

The committee meets at quarterly intervals.

Information Technology:

It is a proven fact that the Bank investing and making proper use of its technology will always have an edge over other banks. It also has a very good advantage in terms of cost savings. It is also said by one of esteemed author that “any sufficiently advanced technology is indistinguishable from magic”.


9

The Bank has been aggressive in technology upgrade. The Bank made following achievements in the financial year 2012-13:

E-Lobby: During the last financial year, all branches were covered under E-Lobby project. Now

customers of Bank can enjoy virtually any day any time banking. E-Lobby / Mega-Banker functionality covers transactions such as Cash deposit, Cheque deposit, Statement printing, Updating Passbooks, Utility Bill Payments, etc. Special efforts are being made by the staff members at the branches to educate the customers for better usage of available technology.

CTS 2010 Compliant Cheques: As per the RBI guidelines, the Bank completed the project of migration to CTS 2010 standards

for cheques issuance.

IFSC Based Payments through Mobile Banking:

The Bank was the 1st Co-operative bank in making available the facility of IFSC based payment via Mobile Banking in last financial year.

Mobile Banking – Merchant Banking: The Bank initiated merchant payment facilities under Mobile Banking last year. Hence

customers can avail of merchant payments such as Railways / Ticket bookings, Mobile / DTH recharge, payment of Mobile bills & landline phone bills, Electricity bills, etc.

Customer Relationship Management:

Customer is becoming more & more as a focal point of business due to increased competition, customer literacy & availability of vast variety of products in the banking spree.

The Bank is well known for its customer service delivery. The Bank values relationship with each of its customers. The Bank gives special treatment to the Senior Citizens by offering them special banking hours.

The Bank maintains its technology updated with the recent technological changes to maximize customer convenience. Through technology banking, the bank is providing customers a virtual any day any time banking.

With the changing banking role, the Bank has always adopted changes. With the changing business environment, the Bank is offering to the customers various Third Party products such as Life Insurance, General Insurance, Mutual Fund & PAN Card distribution, Foreign Exchange along with Lockers, Demat, Stamps Franking facilities in its bouquet. The Bank also offers various fund remittance facilities such as RTGS, NEFT, N-ECS, Direct as well as In-direct tax payments, etc to its customers.

Corporate Social Responsibility:

The Bank considers in the philosophy of give back. Hence the Bank is of the opinion that it’s the responsibility of any organization to give back some portion of its earnings for the well being of the society where it operates.

The Bank is active in the field of Corporate Social Responsibility. The Bank has conducted various programs at various occasions such as Blood Pressure, Diabetes, Eye Check up, Sujok Therapy, Hair Analysis, Bone Density Test, Dental Check up, Blood Donation Camps, etc benefiting more than 2500 persons under the same.

10

In addition to this, the Bank conducted picnics for Senior Citizens of various branches. More than 400 senior citizens enjoyed the same. The Bank also distributed T-Shirts to the needy children on some occasions. The Bank also organized saplings planting program during the year.

Human Resource Development:

With the increasing no. of private and foreign bank’s strengthening their roots in India, co-operative Banks are yet famous for their own reasons. Greater Bank is undergoing transformation too in order to be a niche player in the Co-operative Banking industry with the help its human assets.

Human Resource of any organization is an integral part of its monetary and organizational growth at large and therefore referred as “Assets”. Greater bank has always believed in achieving its target /goals through new initiatives.

Staff members also benefited from the rich knowledge bank of Shri. BVR Sarma (Ex-CEO) - Advisor to the Board & Head of Knowledge Centre during the year. During the year, Knowledge Centre successfully imparted sessions on KYC, AML, Marketing, Advances, Mobile Banking, Depository Operations, Soft Skills and Banking Operations with the help of a structured Training Calendar thereby helping employees with knowledge and skills that are required to carry out the banking functions

During the year total of 34 In-house & External training programmes were conducted covering 797 participants & 5642 man hours.

Employees were motivated because a common goal was laid down in consultation with them and they were further encouraged to take up challenges by ways of various fortnights announced by the CEO Desk. The fortnights were introduced with a dual motive to accelerate business through motivated employees and to create a healthy competition. As a result employees have demonstrated team spirit and collective wisdom through which the targets laid down were not only achieved but surpassed.

Staff members work as a team. There was a whole hearted participation of all staff members in the sports as well. Indoor & Outdoor sports events such as Cricket, Table Tennis, Chess, and Carrom were conducted last financial year. Organizing sports activities for staff made Bank’s corporate culture come alive with gaming strategies, a youthful spirit and a winner’s spirit amidst the pressure of work.

Corporate Governance:

The management of the Bank is ably shouldering the responsibility of Corporate Governance of the Bank.

As a part of corporate governance, legal compliance certificate is obtained from various departments on a quarterly basis certifying compliance of all rules and regulations of various State / Central Government Authorities / Regulators.

The Bank has various committee meetings in the year 2012-13, the details are as follows:

Board Sub-committees:

The Bank has formed Sub-Committees for decision making and reviewing the same. During the financial year 2012-13, there were various Sub-Committees in place for making business decisions and to design business related plans and policies. These sub-committees included Loan, Stressed Accounts, Audit, Staff and Steering.


11

Executive Committees:

In addition to Sub-Committees, the Bank has Executive Committees including Asset Liability Management Committee (ALCO), Investment Committee (ICM), Expenditure Budget Committee (EBC), Credit Risk Management Committee (CRMC), Operational Risk Management Committee (ORMC), Stressed Accounts Executive Committee (SAEC), Head of Departments Committee (HOD) and Information Technology committee (ITC).

There were 14 meetings of the Board, 33 meetings of Sub-Committees, 99 meetings of Executive Committees and 15 Performance Review (Monthly Branch Managers) meetings. These meetings have helped to improve the overall functioning of the Bank.

Members Welfare

As announced in the last year about the Special Health Check Up Plan for the eligible members and staff of the Bank at SevenHills Hospitals, Marol, Andheri (East). A total of 1006 members benefited from the scheme during last year.

The Bank is pleased to announce that the Bank has entered into a fresh tie-up with Apollo Health & Life Style Ltd. for providing Customized Health Checkup (CHC) for Bank’s members & staff with an age group of 40 years & above in lieu of Special Health Check Up Plan offered by SevenHills Hospitals.

Members are insured for a personal accident (death) insurance cover for ` 1 lac from New India Assurance Co. The cover is available to all eligible members who have completed one year of membership irrespective of age.

Cultural Activities

Year 2012 was special as your Bank celebrated its 60th anniversary. Your Bank’s history can be traced back to the year 1952, when a group of likeminded businessmen envisioned a Bank that will cater to the banking needs of the common man of Mumbai. This vision became a reality on 15th November 1952 when your Bank opened its very first branch at Bhuleshwar.

Since then, through good and challenging times, your Bank has been working alongside and connecting with the people of Mumbai. To commemorate this special year, your Bank organized a series of activities / meets for its Customers, Members and Staff of the Bank.

As a part of Bank’s Diamond Jubilee celebrations, the Bank arranged a special discourse by renowned Swami Sukhabodhanandaji, a world renowned spiritual teacher at Shanmukhananda Hall on 19th February 2013. Swamiji gave speech on ‘Stress and Motivation’ combining Vedic wisdom with Western Management and Psychological Development perspectives. “Swargandhar” a musical session was also arranged for members of the Bank that evening. Live performance by vocalists, Mr. Rahul Saxena and Ms. Abhilasha Chellum, was greatly appreciated by all the audience.

International Year of Co-operatives (IYC):

The Bank’s Diamond Jubilee year also coincides with the United Nations’ recognition of Year 2012 as the International Year of the Co-operatives. The Bank represented in the functions and seminars held to celebrate the International Year of Co-operatives by District Deputy Registrar and Government of Maharashtra.

12

Founders’ Day:

The Founders’ Day of the Bank was celebrated by staff members & their families on 3rd March 2013 at IES Manik Sabhagriha, Bandra. Staff members & their children performed various entertainment & cultural programs on the day. The celebration included felicitation of meritorious children of Bank’s members and staff who achieved success in their SSC and HSC examinations. Each child was felicitated the Ratanchand H. Baldota Scholarship award and a cash prize of ` 5000/- along with Merit Certificate. Staff members who completed 25 years of service in the Bank were also felicitated on behalf of the Union and Management.

On the occasion of Diamond Jubilee Year of the Bank, the Bank published a documentary film on the Bank’s progress and future prospects.

Valued Customer Meet:

The Bank invited its elite customers of the Bank for a special Customer Meet on 4th March 2013 as a part of Bank’s Diamond Jubilee celebration. Two eminent financial experts, Shri. Motilal Oswal, Chairman & MD of Motilal Oswal Financial Services Limited and Shri. Ramesh Damani, Member of the BSE, were invited to present a talk on ‘Value Investing’. The program was well received by the eminent audience.

‘Manik Sandhya’:

Artistic and cultural works transcend borders. Every year, your Bank supports and sponsors one such cultural programme called ‘Manik Sandhya’, which brings out the joy of Indian Classical music to a wider audience.

‘Manik Sandhya’, a musical concert is arranged by the I.E.S Kala Vikas Mandal every year. This year, it was held on 12th January 2013 at Manik Sabhagriha, Bandra Reclamation. Renowned artist, Shri. Omkar Dadarkar, nephew and shishya of legendary vocalist Padmashree Manik Verma, was invited to perform on the occasion. Shri. Dadarkar has performed in several Music Conferences in India and has received the prestigious Vidyasagar Award from Music Forum. The event was well attended by Indian Classical music lovers.

IES Kala Vikas Mandal thanked the Bank for its participation and support in making the programme a success.

Acknowledgements:

The Board of Directors are thankful for the valuable support extended by the Commissioner of Cooperation and Registrar of Co-op Societies, Pune, Registrars of Mumbai Offices, RBI Authorities from Central and Mumbai Regional Offices, Shri. Anandrao Adsul, Member of Parliament, Authorities from Maharashtra State Co-op Banks’ Association, Maharashtra Urban Co-op Banks’ Federation, Brihanmumbai Nagari Sahakari Banks’ Association, NAFCUB – Delhi, Indian Banks’ Association, MDCC and MSC Bank, Co-op Bank Employees’ Union and the electronic and print media. Last but not the least; we are thankful to all the staff members for their support and co-operation.

On behalf of the Board of Directors Sd/- Narendrakumar A. Baldota ChairmanDate: 22nd August 2013


13

Position at a Glance - 31st March 2013 (` in Lacs)

Items As on 31st March 2013No. of branches 22 Membership Regular 25,170 Nominal 5,880 Paid-up Share Capital 2,517.54 Share Application Money 23.29 Total Reserves &Funds 11,179.73 Deposits Savings 37,831.17 Current 6,444.08 Term 100,188.66 Total 144,463.92 Advances Secured 91,452.79 Unsecured - Total 91,452.79 Advances to Priority Sector 47.21% Advances to Weaker Sections 2.34%Borrowings M.D.C.C.Bank - M.S.C.Bank - Others – CBLO & LTDs 2,493.99 Investments 52,291.11 Net NPAs 4.97%Profit for the year 88.09 Total Staff Officers 196 Clerks 208 Sub-Staff 55 Total 459 Working Capital 163,468.54

Audit class A

14

BALANCE SHEET AS

Capital and Liabilities ScheduleCurrent Year Previous Year

` `

1 Share Capital A 254083700.00 254713868.00

2 Reserve Fund and Other Reserves B 1117973372.62 677925736.03

3 Deposits C 14446391704.64 13007883661.50

4 Borrowings D 249399329.00 946399901.00

5 Bills for Collection as per Contra 24412575.00 25009115.00

6 Overdue Interest Reseve E 36704500.85 41467730.96

7 Interest Payable on Deposits and Borrowings

49294477.45 49869506.12

8 Other Liabilities & Provisions F 213324311.61 251712588.92

9 Profit and Loss Account O 16386665.82 9779848.16

Total 16407970636.98 15264761955.69

10 CONTINGENT LIABILITIES P 72871160.90 55419411.90

SIGNIFICANT ACCOUNTING POLICIES AND NOTES FOrmING PArT OF ACCOUNTS. (Schedule V)

As per our report of even date As per our report of even date

For V. J. Kulkarni & AssociatesChartered AccountantsFirm Reg. No. 105448W

For Devdhar Joglekar & SrinivasanChartered AccountantsFirm Reg. No. 104330W

CA Chandrashekhar D. AptePartnerMem. No. 45943(Statutory Auditors)

CA Vivek JoglekarPartnerMem. No. 33631(Internal Auditors)

Place: Mumbai

Date: 12th August 2013


15

AT 31st March 2013

Assets ScheduleCurrent Year Previous Year

` `

1 Cash and Bank Balances with RBI, SBI and State & Central Co-op. Bank

G 730626485.28 972946413.69

2 Balances with Other Banks H 3903189.39 6358858.11

3 Money at Call & Short Notice I 99849541.79 150000000.00

4 Investments J 5229110630.37 7109923354.71

5 Deferred Tax Asset 35171500.00 0.00

6 Advances K 9145278714.14 6292030872.43

7 Interest Receivable L 221286329.93 282539272.67

8 Bills for Collection as per Contra 24412575.00 25009115.00

9 Fixed Assets M 532749631.03 118316631.50

10 Other Assets N 207655890.26 123515568.38

11 Non-banking assets acquired in satis-faction of Claims

158252417.40 158252417.40

12 Computer Software 1635452.00 2252031.00

13 Deferred Revenue Expenditure 11438280.40 17017420.80

14 Margin with CCIL 6600000.00 6600000.00

Total 16407970636.98 15264761955.69

FOR THE GREATER BOMBAY CO-OPERATIVE BANK LTD. N. D. Behere N. A. Baldota S. B. ChhajedChief Executive Officer Chairman Vice Chairman

DIRECTORS M.P.Baldota A.B. Vakharia A. P. Ahire P. P. Golecha S. R. Baldota P. J. Mehta M. H. Ratti S. N. Baldota S. M. Paraande N. B. Rege P .R. Chavan

16

Profit & Loss Account for the year ended 31st March 2013

Particulars ScheduleCurrent Year Previous Year

` `

1 IncomeInterest earned Q 1500857559.72 1385275610.76

Other Income R 194959765.02 187067039.54Total 1695817324.74 1572342650.30

2 ExpenditureInterest expended S 1092664052.13 992083558.62Operating expenses T 519318302.15 433387738.05

Total 1611982354.28 1425471296.673 Operating Profit 83834970.46 146871353.63

Less: Provision & Contingencies U 110197352.80 74367505.47Add: Excess Invt Fluctuation Fund 0.00 19500000.00

4 Profit Before Tax -26362382.34 92003848.16Less: income Tax

(Add)/ Less: Deferred Tax (Net) 35171500.00 0.005 Net Profit for the year carried to

Balance Sheet8809117.66 92003848.16

SIGNIFICANT ACCOUNTING POLICIES AND NOTES FOrmING PArT OF ACCOUNTS. (Schedule V)

As per our report of even dateFOR V. J. KULKARNI & ASSOCIATESCHARTERED ACCOUNTANTSFIRM REG.NO. 105448W

For The Greater Bombay Co-Operative Bank Ltd.

N. D. Behere N. A. Baldota S. B. ChhajedChief Executive Officer Chairman Vice Chairman

CA Chandrashekhar D. AptePartnerMem.No. 45943(Statutory Auditors) DIRECTORS

M. P. Baldota A. B. Vakharia A. P. AhireAs per our report of even dateFor Devdhar Joglekar & SrinivasanCHARTERED ACCOUNTANTSFIRM REG.NO. 104330W

P. P. Golecha S. R. Baldota P. J. Mehta

M. H. Ratti S. N. Baldota S. M. ParaandeCA Vivek JoglekarPartnerMem.No. 33631(Internal Auditors) N. B. Rege P. R. Chavan

PLACE: MUMBAIDATE: 12th August 2013


17

ParticularsCurrent Year Previous Year

` `

Schedule A - Share CapitalI. Authorised Capital

(4,00,00,000 shares of ` 25/- each) 100,00,00,000 100,00,00,000

(P.Y.4,00,00,000 shares of ` 25/- each)

II. Subscribed & Paid-up Capital10070175 (P.Y.1,00,55,564) shares of ` 25/- each of which held by 251754375.00 251389100.00

Individuals - `20,42,19,975/- (P.Y.` 20,59,16,850/-)

Others - ` 4,75,34,400/- (P.Y. ` 4,54,72,250/-)

III. Share Appplication Money 2329325.00 3324768.00

Total (I to III) 254083700.00 254713868.00Schedule B - Reserve Fund and Other Reserves

I. Statutory Reserve 424086669.33 417104227.58

(a) Opening Balance 417104227.58 391474310.38

(b) Additions during the year 6982441.75 25629917.20

(c) Deductions during the year 0.00 0.00

II. Building Fund 81019670.37 81019670.37




III. Dividend Equalisation Fund 22625008.33 22625008.33




IV. Members Welfare Fund 5148338.30 7315135.30




V. Diminution Reserve Fund 672632.00 672632.00




VI. Investment Depreciation Reserve 548315.51 0.00




VII. Bad & Doubtful Debt Reserve 94539528.00 81262526.62




18


` `

VIII. General Reserve Fund 32007300.87 32007300.87(a) Opening Balance 32007300.87 12007300.87(b) Additions during the year 0.00 20000000.00(c) Deductions during the year 0.00 0.00

IX. Revaluation Reserve 411918802.95 0.00(a) Opening Balance 0.00 0.00(b) Additions during the year 411918802.95 0.00(c) Deductions during the year 0.00 0.00

X. Contingent Provision Against Standard Assets 42282972.00 32795100.00(a) Opening Balance 32795100.00 48072919.00(b) Additions during the year 19132972.00 9795100.00(c) Deductions during the year 9645100.00 25072919.00

XI. Investment Fluctuation Reserve 3124134.96 3124134.96(a) Opening Balance 3124134.96 22624134.96(b) Additions during the year 0.00 0.00(c) Deductions during the year 0.00 19500000.00

Total (I to XI) 1117973372.62 677925736.03Schedule C - Deposits

I. Term Deposits 9968273356.56 8896732144.63(i) From Individuals 8550799555.95 7437771166.10(ii) From Societies 1012517269.27 1002352656.25(iii) From Others 358493126.05 405025607.81(iv) Overdue Term Deposit 46463405.29 51582714.47

II. Saving Bank Deposits 3778024831.95 3383630739.81(i) From Individuals 3560397042.65 3227693253.36(ii) From Societies 217550677.85 155815066.22(iii) From Others 77111.45 122420.23

III. Current Deposits 644408113.13 704214217.06(i) From Individuals 26232448.21 40208750.88(ii) From Societies 276480.18 932046.43(iii) From Others 617899184.74 663073419.75

IV. Madhukosh Deposit 5092634.00 5713204.00V. Initial Deposit 50592769.00 17593356.00

Total (I to V) 14446391704.64 13007883661.50Schedule D - Borrowings

I. Loans from other Sources 249399329.00 946399901.00

(i) Long Term Deposits (for Tier II Capital) as per RBI Norms 249399329.00 249399329.00

(ii) OD from UBI 0.00 49999500.00

(iii) Refinance from MSC ( Secured against Non Overdue Standard Assets)

0.00 647001072.00


19


` `

Schedule E - Overdue Interest ReserveI. Overdue Interest Reserve 36704500.85 41467730.96




Schedule F - Other Liabilities & ProvisionsI. Tax Deducted at Source Payable 785360.00 871066.89

II. Dividend Payable 08-09 0.00 1513917.56

III. Dividend Payable 09-10 1635788.55 1728838.16

IV. Dividend Payable 10-11 2507007.59 2702356.48

V. Dividend Payable 11-12 2874301.57 0.00

VI. SDVL rent received in advance 1614886.00 1457754.52

VII. Audit Fees payable 1425000.00 2711733.00

VIII. Outstanding Liability 27598373.92 45992304.14

IX. Payslip Payable 30013942.36 71004851.09

X. Sundry Creditors 15166302.25 16987967.02

XI. PL Encashment Fund 36046367.00 29320470.00

XII. Staff welfare fund 4123698.16 4257198.16

XIII. Others 89533284.21 73164131.90

Total (I to XIII) 213324311.61 251712588.92Schedule G - Cash and Bank Balances

I. Cash On Hand 88159740.00 49926086.50

II. Balances with Reserve Bank of India 641261585.35 921821497.22

(a) In Current Account 641261585.35 921821497.22

III. Balances with State Bank of India & Nationalised Banks 1201050.93 1193794.97


IV. Balances with State and Central Co-operative Banks 4109.00 5035.00


Total (I to IV) 730626485.28 972946413.69Schedule H - Balances with Other Banks

I. Balances with other Banks 3903189.39 6358858.11

(a) Current deposits 3903189.39 6358858.11

Total 3903189.39 6358858.11Schedule I - Money at Call & Short Notice

I. Money at Call & Short Notice 99849541.79 150000000.00

(a) With CCIL CBLO 99849541.79 150000000.00

Total 99849541.79 150000000.00

20


` `

Schedule J - Investments

I. In Central & State Government Securities 4050181657.77 4347829595.58

Face Value ` 397,25,00,000/-(P.Y. `427,25,00,000.00)

Market Value `379,69,91,200.00(P.Y. `392,19,09,750.00)

II. Bonds of Public Sector Undertaing 90206130.74 90248235.38

Face Value ` 9,00,00,000.00 (P.Y. ` 9,00,00,000.00)

Market Value `9,02,06,130.74(P.Y. ` 9,02,48,235.38)

III. In Shares of Co-operative Institutions

(a) M.S.C. Bank Ltd 10100000.00 10100000.00

(b) M.D.C.C. Bank Ltd 16000000.00 16000000.00

(c) Housing Societies 3750.00 3750.00

IV. Shares of Companies Approved by RBI 37753185.35 37753185.35

V. Others

1 Fixed Deposits

(a) M.S.C. Bank 0.00 10000000.00

(b) HDFC Bank 300000000.00 170000000.00

(c) Canara Bank 0.00 420000000.00

(d) Saraswat Bank 21888266.00 21888266.00

(e) Punjab National Bank 0.00 425247549.00

(f) ICICI Bank 250000000.00 350000000.00

(g) Bank of India 500000.00 500000.00

(h) Corporation Bank 0.00 400000000.00

(i) Union Bank of India 0.00 300000000.00

(j) Yes Bank 0.00 100000000.00

(Pledged for securing Funded / Non Funded facilities)

2 GOLD ETF 12477640.51 10352773.40

3 Statutory / Other Reserve Fund investment

Fixed Deposit with M.D.C.C. Bank 440000000.00 400000000.00

Total (I to V) 5229110630.37 7109923354.71

Schedule K - Advances

I. Short Term Loans (Cash Credit, Overdrafts & Bill Disc.) 5635562164.02 2514359187.37

of which secured against

(a) Tangible Securities : ` 5635562164.02 , P.Y. ` 2514359187.37

(b) Personal Sureities : ` Nil, P.Y. ` Nil

(c) Clean ` Nil, P.Y. ` Nil

(d) NPAs ` 46,13,90,465.47, P.Y. ` 15,73,47,195.36


21


` `

II. Medium Term Loans 1865083433.46 2017565554.25


(a) Tangible Securities : ̀ 202,64,31,143.75 , P.Y. ̀ 215,42,10,513.78

(b) Personal Sureities : ` 62,97,428.72, P.Y. ` 57,41,330.50


(d) NPAs ` 60,32,271.95, P.Y. ` 3,56,05,849.03

III. Long Term Loans 1644633116.66 1760106130.81


(a)Tangible Securities : ` 47,69,87,977.65, P.Y. ` 161,66,89,622.81

(b) Personal Sureities : ` Nil, P.Y. ` Nil


(d) NPAs ` 7,65,36,013.01, P.Y. ` 4,69,36,266.66

Total (I to III) 9145278714.14 6292030872.43

Schedule L - Interest Receivable

I. Interest Receivable on

(a) Investments 104213855.70 173096114.12

(b) Loans and Advances 80367973.38 67975427.59

(c) Overdue Interest Reserve (Contra) 36704500.85 41467730.96

Total 221286329.93 282539272.67

Schedule N - Other Assets

I. Commision Receivable 1773183.88 1746991.67

II. Safe Deposit Locker Rent Receivable 1331813.00 1148336.00

III. Income Tax Paid Receivable 12642948.47 9625265.47

IV. Deposits with Govt. & Other Authorities 15864903.42 15541800.42

V. Prepaid Expenses 2111754.91 1348717.20

VI. Stamps 10040136.32 20195267.10

VII. Stock of Printing & Stationery 1018177.73 1060822.00

VIII. Outward Clearing 116861933.39 66113620.59

IX. Others 46011039.14 6734747.93

Total (I to IX) 207655890.26 123515568.38

22


` `

Schedule O - Profit & Loss AccountProfit as per last Balance Sheet 9779848.16 0.00Profit for the year (as per Profit & Loss A/c.) 8809117.66 92003848.16Less: Transferred to Statutory Reserve 2202300.00 23001000.00Less: Transferred to Dividend @15% 0.00 37448200.00Less: Transferred to Dividend Equalization Fund 0.00 51800.00Less: Transferred to Staff Welfare Fund 0.00 466000.00Less: Transferred to Members Welfare Trust 0.00 1257000.00Less: Transferred to General Reserve Fund 0.00 20000000.00

Total 16386665.82 9779848.16Schedule P - Contingent Liabilities

I. Inland Letters of Credit 6953484.00 0.00II. Guarantees Issued 56122921.90 55419411.90

III. Claims against the Bank not acknowledged as Debit Claim lodged by a Lessor 9794755.00 0.00

Total (I to III) 72871160.90 55419411.90




CA Chandrashekhar D. AptePartnerMem.No. 45943(Statutory Auditors) DIRECTORS

M. P. Baldota A. B. Vakharia A. P. Ahire

As per our report of even dateFor Devdhar Joglekar & SrinivasanCHARTERED ACCOUNTANTSFIRM REG.NO. 104330W


M. H. Ratti S. N. Baldota S. M. Paraande

CA Vivek JoglekarPartnerMem.No. 33631(Internal Auditors)

N. B. Rege P. R. Chavan



23

SC

HE

DU

LE M

- FI

XE

D A

SS

ETS

(` in

Lac

s)

Parti

cular

sRa

te

(%)

GROS

S BL

OCK

DEPR

ECIA

TION

NET B

LOCK

Open

ing

Balan

ce

Cost

as at

31

.03.12

Reva

luatio

nAd

dition

s du

ring t

he

year

5

Delet

ion

durin

g the

ye

ar

Clos

ing

Balan

ce C

ost

as at

31

.03.13

Upto

31

.03.12

For t

he

Curre

nt

Year

On

Delet

ionUp

to

31.03

.13W

DV

as at

31

.03.12

WDV

as

at

31.03

.13

12

34

Befo

re

30.09

.12Af

ter

30.09

.126

78

910

1112

(3-8)

13 (7

-11)

Land

&

Build

ing10

82,91

6,360

.19 37

3,677

,185.8

5 -

8,91

4,254

.0012

,326,0

70.00

453,1

81,73

0.04

40,78

8,944

.194,6

58,45

2.00

9,122

,370.9

4 36

,325,0

25.25

42,12

7,416

.00 41

6,856

,704.7

9

Civil

Wor

k10

17,33

2,920

.43 26

,855.7

5 1,

165,8

78.65

- 18

,525,6

54.83

3,35

9,492

.28 1,

458,3

22.00

- 4,

817,8

14.28

13,97

3,427

.00 13

,707,8

40.40

Furn

iture

&

Fixtur

e10

68,72

2,594

.78 62

7,214

.00 2,

259,5

65.65

2,77

3,980

.00 68

,835,3

94.43

42,97

8,209

.282,7

35,63

4.00

2,457

,588.5

0 43

,256,2

54.78

25,74

4,385

.00 25

,579,1

39.65

Vehic

le15

5,85

3,649

.25 1,

921,6

33.00

- -

7,77

5,282

.25 2,

392,2

19.25

807,4

59.00

- 3,

199,6

78.25

3,46

1,430

.00 4,

575,6

03.00

Air

Cond

itione

r15

11,88

3,453

.81 1,

845,0

88.04

368,6

67.00

4,70

5,000

.32 9,

392,2

08.53

7,99

3,652

.81 84

3,146

.003,8

59,82

9.42

4,97

6,969

.39 3,

889,8

01.00

4,41

5,239

.14

Safe

Depo

sit

Voult

10 20

,988,5

26.83

885,3

07.00

- -

21,87

3,833

.83 11

,948,7

46.83

992,5

10.00

- 12

,941,2

56.83

9,03

9,780

.00 8,

932,5

76.67

Comp

uter &

Pe

riphe

rals

33.33

115,3

02,27

2.07

11,01

5,041

.00 1,

059,5

67.00

42,20

0.00

127,3

34,68

0.07

106,4

26,55

3.07

8,258

,854.0

0 42

,193.3

4 11

4,643

,213.7

3 8,

875,7

19.00

12,69

1,466

.34

Offic

e Eq

uipme

nt33

.33 13

,930,7

56.90

676,0

68.00

1,14

0,338

.00 60

1,963

.00 15

,145,1

99.90

8,42

7,749

.903,6

33,00

5.00

601,9

54.02

11,45

8,800

.88 5,

503,0

07.00

3,68

6,399

.02

Memb

er’s

Holid

ay

Home

10 4,

688,2

97.60

29,46

5,817

.10 -

- -

34,15

4,114

.70 3,

561,4

28.60

112,6

87.00

- 3,

674,1

15.60

1,12

6,869

.00 30

,479,9

99.10

Land

at

Lona

vala

0 74

4,200

.00 8,

775,8

00.00

- -

- 9,

520,0

00.00

- -

- -

744,2

00.00

9,52

0,000

.00

ATm

15 14

,953,5

48.00

- -

6,34

4,030

.00 8,

609,5

18.00

11,63

7,085

.00 40

6,706

.00 5,

738,9

35.92

6,30

4,855

.08 3,

316,4

63.00

2,30

4,662

.92

Total

357,3

16,57

9.86

411,9

18,80

2.95

16,99

7,206

.7914

,908,2

70.30

26,79

3,243

.32 36

2,428

,813.6

323

9,514

,081.2

123

,906,7

75.00

21,82

2,872

.14 24

1,597

,984.0

7 11

7,802

,497.0

0 53

2,749

,631.0

3

Prev

ious

year

300,5

17,72

4.65

43,32

2,779

.5014

,903,7

06.71

1,42

7,631

.00 35

7,316

,579.8

622

0,853

,493.9

519

,976,1

33.26

1,31

5,546

.00 23

9,514

,081.2

1 79

,664,2

30.70

117,8

02,49

7.00

24


` `

Schedule Q - Interest EarnedI. Interest /discount on advances/bills 1003331731.66 878007303.15

II. Income on Investments 497525828.06 507268307.61

Total (I to II) 1500857559.72 1385275610.76Schedule R - Other Income

I. Commission, Exchange and Brokerage 24602745.85 21076365.68

II. Dividend on Investments in shares 1919252.00 1907477.00

III. Profit on sale of Investment(net) 9290411.21 15381577.41

IV. Recoveries in written off accounts 75513346.91 76233015.07

V. Miscellaneous Receipts 10421713.55 13634901.69

VI. Demat Services ( Net) 3982907.88 3850598.07

VII. Incidental Charges 13997461.23 14189496.31

VIII. Processing Charges 9185664.42 26152106.00

IX. S.D.V.Locker Rent 16139492.87 14641502.31

X. Profit on sale of land, buildings and other assets 29906769.10 0.00

Total (I to X) 194959765.02 187067039.54Schedule S- Interest Expended

I. Interest on Deposits 1006047425.15 901467256.87

II. Interest on Borrowings 86616626.98 90616301.75

Total (I to II) 1092664052.13 992083558.62Schedule T - Operating Expenses

I. Salaries, Allowances, PF contributions & Gratuity, etc. 288389168.60 227414661.00

II. Directors Fees, allowance and expenses 34625.00 31875.00

III. Rent, Rates, Taxes, Insurance, Lighting, etc. 66561672.72 60548020.60

IV. Legal & Other Professional Charges 12044016.55 6315627.34

V. Postage, Telegram & Telephone Charges 6048142.91 6718917.52

VI. Audit Fees 3746837.00 4126591.00

VII. Depreciation on Bank’s property 23906775.00 19976133.26

Amortisation on Computer Software 1311901.00 1512388.55

VIII. Repairs & Maintenance Charges 7739166.91 7436478.27

IX. Stationary, Printing & Advertisement Expenses 37187783.28 39862402.76

X. Computer Maintainance Charges 12465229.63 10649507.70

XI. DICGC Insurance Premium 11757884.00 11828542.00

XII. Contribution to Education Fund 30000.00 30000.00

XIII. Value Added Tax 52379.00 10454.00

XIV. Loss on sale of Fixed Assets 0.00 21124.22

XV. Other Expenses 48042720.55 36905014.83

Total (I to XV) 519318302.15 433387738.05


25


` `

Schedule U - Provisions & ContingenciesI. Provision for Bad & Doubtful Debt Fund 62982072.84 35300000.00II. Contingent Provision for Standard Assets 19132972.00 9795100.00III. Amortisation of Premium on Investment 27533992.45 29061151.47

IV. Provision for Investment Depreciation Reserve 548315.51 0.00

V. Provision for impaired assets 0.00 211254.00

Total (I to V) 110197352.80 74367505.47




CA Chandrashekhar D AptePartnerMem.No. 45943(Statutory Auditors) DIRECTORS

M. P. Baldota A. B. Vakharia A. P. Ahire

As per our report of even dateFor Devdhar Joglekar & SrinivasanCHARTERED ACCOUNTANTSFIRM REG.NO. 104330W


M. H. Ratti S. N. Baldota S. M. Paraande

CA Vivek JoglekarPartnerMem.No. 33631(Internal Auditors)

N. B. Rege P. R. Chavan


26

SCHEDULE VSIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2013

A. SIGNIFICANT ACCCOUNTING POLICIES:

1. Accounting Convention:

The financial statements are prepared under the historical cost convention & on a going concern basis. They conform to Generally Accepted Accounting Principles (GAAP) in India, which comprise applicable Statutory Provisions, Reserve Bank of India (RBI) guidelines, Accounting Standards (AS) issued by The Institute of Chartered Accountants of India (ICAI) and the practices prevalent in the Cooperative Banks in India.

2. Use of Estimates :

The preparation of financial statements requires the management to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities) as of the date of the financial statements and 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. Difference between the actual results and estimates are recognized in the period in which the results are known / materialized.

3. Revenue Recognition:

Income and Expenditure are accounted on accrual basis except as stated below:

a. The following are accounted for on cash basis:

i. Commission on Guarantees.

ii. Ex-Gratia to Staff

b. The following items of income are recognized on realization basis as per the prudential norms on Income Recognition and Asset Classification issued by RBI:

i. Interest income on Non Performing Advances

ii. Interest on Non Performing Investments

4 Loans/Advances and Provisions thereof:

4.1 Advances are shown net of unrealized interest on Non Performing Assets (NPAs).

4.2 All Loans and Advances are classified into Performing or Non- Performing Assets based on the guidelines issued by RBI. NPAs are further classified as “Sub-Standard”, “Doubtful ” and “Loss ”.

4.3 A general provision on standard assets except Loans against Fixed Deposits, NSC, LIC, etc. is made at the following rates as per the RBI guidelines:

a. Advances to CRE (Commercial Real Estate) Sector 1.00%

b. Direct Advances to SME and Agricultural Sector 0.25%

c. All other Standard Assets 0.40%


27

4.4 Provisions are made on all outstanding Non Performing Assets as under:

Sr. No. Classification Percentagea. Substandard Assets - 10%b. Doubtful Assets-

i. Unsecured portion 100%ii. Secured portion

Period for which the assets has been Considered as doubtful

Up to one year 20%One to three years 30%More than three years 100%

c. Loss Assets 100%

4.5 Unrealized Interest in respect of NPAs is credited separately to “Overdue Interest Reserve (OIR)” Account.

4.6 The Classification of Advances in to Short Term, Medium Term and Long Term are considered on the basis of Sanctioned Term.

5 Investments:

5.1 The Bank has categorized the Investments in following three categories in accordance with the RBI guidelines applicable to Urban Co-operative Banks ( UCBs).

a. Held to Maturity (HTM)

b. Held for Trading (HFT)

c. Available for Sale (AFS)

5.2 Investments have been classified under 5 groups as required under RBI guidelines –

a. Government securities,

b. Other Approved Securities,

c. Shares ,

d. Bonds of PSUs &

e. Others

5.3 Investments under “Held to Maturity” category have been valued at acquisition cost. Premium, if any, on such investments is amortized over the residual life of the particular investment.

5.4 Investments under “Held for Trading” category have been marked to market on the basis of guidelines issued by the RBI. While net depreciation, if any, under each classification has been provided for, net appreciation, if any, has been ignored.

5.5 Investments under “Available for Sale” category have been marked to market on the basis of guidelines issued by the RBI. While net depreciation, if any, under each classification has been provided for, net appreciation, if any, has been ignored.

5.6 Market value in the case of State Government and Other Securities, for which quotes are not available are determined on the basis of the “Yield to Maturity” indicated by the Primary

28

Dealers Association of India (PDAI) jointly with Fixed Income and Money Market Derivatives Association of India (FIMMDA).

5.7 An investment is classified as “Held to Maturity”, “Available for Sale”, Held for Trading”, at the time of purchase and any subsequent shifting amongst categories is done in conformity with the regulatory guidelines.

5.8 Non-Performing Non-SLR Investments are recognized as per RBI guidelines and provisions are made as per RBI norms applicable to NPAs.

5.9 Bank is following the policy of First In First Out (FIFO) for recognition of profit and loss on sale of investment.

6. Fixed Assets and Depreciation:

6.1 Fixed Assets are stated at historical cost less accumulated depreciation in accordance with AS 6 and AS 10 issued by Institute of Chartered Accountants of India (ICAI). Fixed Assets include incidental expenses incurred on acquisition and installation of the assets.

6.2. Depreciation on Fixed Assets (except Computers and Office Equipments) is provided for on the Written Down Value Method at the rates prescribed by the Management as under:

Type of Asset Rate

Buildings 10%

Civil Work 10%

Furniture & Fixtures 10%

Air Conditioner 15%

Motor Vehicles 15%

Member Holiday Home 10%

Automated Teller Machines (ATMs) 15%

Safe Deposit Vaults 10%

Depreciation on Computers (including E-Lobby Machines w.e.f. F.Y. 2011 -12 ) is provided @ 33.33% on Straight Line Method (SLM) as per the RBI Circular No. UBD NO.BPD.CIR.7/09.50.00 dated 5th August 2003. Depreciation on Office Equipments which include all general office equipments have been charged @ 33.33% on Straight Line Basis based on the managements estimate of useful life of the assets.

6.3 Depreciation on fixed assets purchased during the year is charged for the entire year if the asset is purchased or retained for 180 days or more, otherwise depreciation is charged @ 50% of the normal rate. Depreciation is charged on fixed assets up to the date of sale when the assets are sold during the year.

6.4 No depreciation is charged on Non-Banking Assets acquired in satisfaction of claims.

6.5 Premises will be revalued from time to time as per the valuation reports of registered Govt approved valuers . The surplus arising out of such revaluation is carried to Land & Building and is accounted under Revaluation Reserve.

6.6 Depreciation in respect of revalued assets is not charged to the Profit and Loss Account and directly adjusted against Revaluation Reserve.


29

7. Impairment of Assets (Accounting Standard 28)

Assets are reviewed for impairment whenever events or changes in circumstances warrant that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net discounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognised is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset.

8. Taxation:

8.1 Income tax expenses comprise current tax and deferred tax.

8.2 Deferred tax asset and liabilities are recognized for the future tax consequences of timing differences, subject to the consideration of prudence. Deferred tax assets and liabilities are measured using the tax rate enacted or substantively enacted by the balance sheet date. The carrying amount of deferred tax asset / liability is reviewed at each balance sheet date.

8.3 Deferred tax assets on account of other timing differences are recognized only to the extent there is a reasonable certainty of its realization.

9. Employee Benefits:

9.1 The undiscounted amount of short-term employee benefits, such as medical benefits, etc which are expected to be paid in exchange for the services rendered by employees are recognised during the period when the employee renders the service.

9.2 Contributions towards Provident Fund in terms of the Provident Fund Schemes are charged to Profit and Loss Account on accrual basis.

9.3 The liability for gratuity is determined on the basis of actuarial valuations carried out at the year end and the incremental liability is provided for by charging the same to the Profit and Loss Account. Additional liability due to enhancement in gratuity limits following the amendment to Payment of Gratuity Act 1972, is deferred over a period of five years beginning with the financial year ended March 31, 2011 in accordance with RBI circular No UBD.BPD.(PCB)CIR.No.49/09.14.000/2010-11 dated May 24, 2011.

9.4 The liability for Leave Encashment is determined on the basis of actuarial valuations carried out at the year-end and provided for by charging the same to the Profit and Loss Account.

9.5 Ex- Gratia is accounted for on Cash Basis.

10. Intangible Asset:The cost of Computer Software is capitalized under the head “Intangible Assets” and is amortized over a period of 3 years ( i.e. @ 33.33% on SLM) from the year of capitalization as per RBI guidelines.

Amortization on Computer Software purchased during the year is considered for the entire year if the Computer Software is purchased or retained for 180 days or more, otherwise amortized @ 50% of the above rate.

11. Events occurring after Balance Sheet Date:

While classifying account as NPA, due regard is given to the events occurring after the Balance Sheet date, like closure of an NPA account, renewal of accounts or substantial recovery in the account which has the effect of altering the status of the account. Other than

30

these, there is no event after the Balance Sheet date which may be deemed to have any material impact on the financial statements.

12. Reserve fund and Other Reserves:

Dividends remaining unclaimed over 3 years and sundry deposits/payslips/demand drafts/excess cash etc. remaining unclaimed over 2 years are credited directly to the Statutory Reserve Fund.

13. Payment under Voluntary Retirement Scheme (VRS):

In accordance with the RBI guidelines, the payment under VRS is treated as Deferred Revenue Expenditure to be amortized over the period of five years.

14. Prior Period Items:

Prior period items, if any, are disclosed separately in the Profit and Loss Account.

15. Provisions, Contingent Liabilities and Contingent Assets

In conformity with AS 29, “Provisions, Contingent Liabilities and Contingent Assets”, issued by the Institute of Chartered Accountants of India, the Bank recognises provisions only when it has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and when a reliable estimate of the amount of the obligation can be made.

16. Lease :

Lease payments for assets taken on operating lease are recognized in the Profit & Loss account over the lease term in accordance with AS – 19 , “ Accounting for Lease”, issued by the Institute of Chartered Accountants of India.

17. Earning per Share : Basic earning per share is calculated by dividing the net profit or loss for the period by weighted average number of shares outstanding during the year. The weighted average number of shares is calculated on monthly basis.

B NOTES TO ACCOUNTS :

1 Details of Intangible Assets (Software Expenses) in accordance with Accounting Standard 26 - Intangible Assets issued by Institute of Chartered Accountants of India are as under:

(` in Lacs)

Particulars 2012-13 2011-12

Carrying amount at the beginning of the year 23 12

Add: Additions during the year 7 26

Sub-Total 30 38

Less: Amortisation during the year 13 15

Carrying amount at the end of the year 17 23


31

2 Related Party Disclosures:

The Bank is a Co-operative Society under The Maharashtra Co-operative Societies Act, 1960 and there are no related parties requiring a disclosure under Accounting Standard -18 (AS-18) issued by The Institute of Chartered Accountants of India, other than one Key Management Personnel, viz. Shri. N D Behere, Chief Executive Officer of the Bank. However in terms of RBI circular dated 29th March, 2003, he being single party coming under the category, no further details thereon need to be disclosed.

3 In terms of approval received from RCS & RBI in December, 2008, the Bank has been allowed to raise Long Term Deposits (LTDs) with a view to augmenting Tier II Capital. Accordingly the Bank raised LTD’s aggregating ` 2494 lacs. The details of the issue are as under:

a. Size of the issue – ` 2500 lacs.

b. Minimum investment ` 1 lac and maximum `100 lacs per party.

c. Tenure - 10 years

d. Interest - 12% (payable half yearly)

e. Call option to be exercised anytime after 5 years.

4 The Non Banking Assets acquired in satisfaction of claims are segregated from banks own fixed assets and no depreciation is charged on the same.

5 Revaluation Reserve : As per RBI circular dtd 9th January 2007, the Bank has revalued its own Land & Building during the current year & Revaluation Reserve for ` 41.19 Crs was created. The same will be depreciated @ 10% p.a. from 2013-14 which will be reversed from the Revaluation Reserve.

6 AS 22 – Accounting for Taxes on Income :

As per AS 22 issued by the Institute of Chartered Accountants of India (ICAI), the timing differences between the accounting profits and the tax profits are to be provided as Deferred Tax Assets (DTA) or Deferred Tax Liability (DTL). Accordingly the Bank has identified the timing differences and created DTA during the year. The initial DTA created as on 1st April 2012 is ` 2,98,69,206/-.

Tax on income of current period is determined on the basis of taxable income and tax credit computed in accordance with provision of I T Act 1961. The major components of DTA /DTL (net) as on 31st March 2013 are as follows:

(` in Lacs)

Particulars Current YearDTA on account of

a) Provision for BDDR 42.90

b) Provision for Leave Encashment 23.85

Total (A) 66.75DTL on account of

a) Depreciation on Fixed Assets 13.73

Total ( B) 13.73Net Deferred Tax Assets (DTA) A- B 53.02

32

7 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.

8 AS – 19 – Leases :

The Bank has cancellable operating leases and the disclosures under AS-19 on “ Leases “ issued by The Institute of Chartered Accountants of India (ICAI) are as follows:

(` in Lacs)

Particulars 31.03.2013

Future Lease rental payable at the end of the year 962.00

-Not later than One Year 356.65

-Later than one year and not later than 5 years 575.42

-Later than Five Years 29.94

Total of Minimum Lease payments recognized in the Profit and loss account in the year

396.62

Total of Future minimum sublease payment expected to be received under non-cancellable sub lease

-

Sub-Lease payments recognized in the profit & loss of the year -

9 Earnings Per Share (EPS) :

Particulars 2012-13 2011-12Net Profit after tax attributable to Equity Shareholders ( before appropriations)

8,809,118 92,003,848

Weighted Average Equity No of Shares 9,765,514 9,720,708 Earnings Per Share 0.90 9.46

10 There have been no fines imposed on the Bank by Reserve Bank of India during the year.

11 Segment Reporting (Accounting Standard 17) :

11.1 Primary Segment :

(` in Lacs)

Particulars Treasury Retail Banking

Other Banking Operations

Total As on March 31, 2013

Revenue Segment Revenue 5,068.16 3,299.58 8,942.14 17,309.89 Result 33.08 5.36 49.66 88.09 Unallocated Expenses - - - - Net Profit Before Tax 33.08 5.36 49.66 88.09 Income Tax / Fringe Benefit Tax - - - - Extraordinary Profit / Loss - - - -


33

Net Profit After Tax 33.08 5.36 49.66 88.09 Other Information Segment Assets 54,022.07 33,704.52 58,428.02 146,154.61 Unallocated Assets - - - 17,925.10 Total Assets 54,022.07 33,704.52 58,428.02 164,079.71 Segment Liabilities (52,291.11) (33,704.52) (57,748.27) (143,743.89) Unallocated Liabilities - - - (20,335.81) Total Liabilities (52,291.11) (33,704.52) (57,748.27) (164,079.71)

a) Treasury includes Investments, balances with RBI & other banks & Interest accrued on Investments & related income there from.

b) Other Banking Operations segment includes Advances other than Retail advances, Other Assets & related income there from.

c) Retail Business segment includes Retail Advances in the form of O/D, Advances against Deposits, Staff Loans, etc. & related income there from.

d) Allocation of Expenses: Expenses incurred at Corporate Center establishments directly attributable to Treasury Operations, Retail Business or Other Banking Operations segments are allocated accordingly. Expenses not directly attributable are allocated on the basis of no. of employees in Treasury & Other Banking Operations Segment or ratio of total assets in respective segments.

11.2 Secondary Segment: In the opinion of the management there are no reportable secondary segments.

12 In the opinion of the Board, the realizable value of the assets, loans and advances is not less than the amounts at which they are stated in the Balance Sheet .

13 In the opinion of the Board, the provisions for all known liabilities are adequate.

14 The Bank has deferred the following expenses over a period of 5 years

a. VRS Scheme of 2009-10 and 2010-11, 2011-12.

b. Gratuity Provision 2010-11.

Details of written off expenses are as follows:

(` in Lacs)

Sr. No.

Particulars Opening Balance As on

01.04.12

Addition during the

year2012-13

Written Off during the

year2012-13

Carried Forward

As on 31.03.13

1 VRS 09-10 2.80 0.00 1.40 1.402 VRS 10-11 2.96 0.00 0.99 1.973 VRS 11-12 16.80 0.00 4.20 12.604 Gratuity 10-11 147.61 0.00 49.20 98.41

170.17 0.00 55.79 114.38

The above amortization though not in accordance with GAAP, including AS 26 in respect of Intangible Assets, is resorted to in view of RBI guidelines.

34

15 The details as required by Accounting Standard 15 (AS 15) (Revised) – issued by ICAI pertaining to gratuity is as under –

(` in Lacs)

Sr. No. Particulars 31.03.2013 31.03.2012

1 Discount Rate 8 % p.a. 8 % p.a.

2 Expected Return on Plan Assets 9.25 %p a 9.25 %p a

3 Salary Escalation Rate 3% p.a. 3% p.a.

4 Reconciliation of opening and closing balance of the present value of the defined benefit obligation

i. Present Value of obligation – opening 574 526

ii. Interest Cost 46 42

iii. Current Service Cost 34 31

iv. Benefits paid (69) (65)

v. Actuarial (Gains) / loss on obligation 80 40

vi. Present value of obligation – Closing 665 574

5 Reconciliation of opening and closing balance of fair value of plan assets

i. Fair value of plan assets opening 386 337

ii. Expected return on plan assets 35 31

iii. Contributions 233 83

iv. Benefits paid (69) (65)

v. Actuarial Gains / (Loss ) on plan assets 0 0

vi. Fair value of plan asset closing 585 386

6 Amount recognized in Balance Sheet

i. Present value of obligation as at 31.03.2013 665 574

ii. Fair value of plan assets as at 31.03.2013 585 386

iii. Assets / (Liability) as at 31.03.2013 (80) (188)

7 Expenses recognized in Profit & Loss Account

i. Current Service Cost 34 31

ii. Interest Cost 46 42

iii. Expected Return on Plan Assets (35) (31)

iv. Net actuarial (Gain)/ loss 126 41

8 Expenses recognized in profit and loss account 171 83


35

16 The details as required by Accounting Standard 15 (AS15) (Revised) – issued by ICAI pertaining to Leave Encashment is as under –

(` in lacs)

Sr. No

Particulars 31.03.2013 31.03.2012

1 Discount Rate 8.50% p.a. 8.25% p.a.

2 Expected Return on Plan Assets 8.00% p.a. 8.50 %p a

3 Salary Escalation Rate 3% p.a. 3% p.a.

4 Withdrawal Rate 1% p.a. 1% p.a.

5 Reconciliation of opening and closing balance of the present value of the defined benefit obligation

i Present Value of obligation - opening 293 266

ii Interest Cost 25 22

iii current Service Cost 18 16

iv Benefits paid (33) (26)

v Actuarial (Gains) /Loss on obligation 57 15

vi Present value of obligation -closing 360 293

6 Reconciliation of opening and closing balance of fair value of plan assets

i Fair value of plan assets opening 0 0

ii Expected return on plan assets 0 0

iii Contributions 72 60

iv Benefits paid (33) (26)

v Actuarial Gains / (loss ) on obligation (39) (34)

vi Fair value of plan asset - closing 0 0

7 Amount recognized in balance sheet

i Present value of obligation as at 31.03.2013 360 293

ii Fair value of plan assets as at 31.03.2013 0 0

iii Liability recognized in B/S as at 31.03.2013 360 293

8 Expenses recognized in Profit & Loss Account

I current Service Cost 18 16

ii Interest Cost 25 22

iii Expected Return on Plan Assets 0 0

iv Net actuarial (Gain)/ Loss 96 49

v. Expenses recoganised in profit and loss account 139 87

17 There were no Repo / Reverse Repo Transaction during the year.

36

18 Issuer composition of Non-SLR Investments:(` in lacs)

Sr.No Issuer Amount

Extent of ‘belowinvestment grade’

Securities

Extent of‘inrated’

Securities

Extent of‘unlisted’Securities

1 PSUs 902(902)

Nil(Nil)

Nil(Nil)

Nil(Nil)

2 FIs 378(378)

Nil(Nil)

Nil(Nil)

Nil(Nil)

3 Public Sector Banks 5(15457)

Nil(Nil)

Nil(Nil)

Nil(Nil)

4 Mutual Funds Nil(Nil)

Nil(Nil)

Nil(Nil)

Nil(Nil)

5 Others 5980(6680)

Nil(Nil)

Nil(Nil)

Nil(Nil)

Total 7265 (23417)

Nil(Nil)

Nil(Nil)

Nil(Nil)

6 Provision held towards depreciation

0(0)

0(0)

0(0)

0(0)

** Figures in brackets are for previous year.

19 Non performing Non-SLR Investments:

(` in lacs)

Particulars 2012-2013 2011-2012Opening Balance 0.00 0.00Additions during the year 0.00 0.00Reductions during the year 0.00 0.00Closing Balance 0.00 0.00Total Provision held 0.00 0.00

20 Movement in Provisions:

(` in lacs)

ParticularsOpening Balance As

on 1st AprilAdditions Deductions

Closing Balance As on 31st March

2011 20122011 – 2012

2012 – 2013

2011 - 2012

2012 – 2013

2012 2013

a. Towards NPAs 460 813 353 630 0 497 813 946

b. Towards Standard Assets

481 328 98 191 251 96 328 423

c. Towards Diminution in Current Assets

5 7 2 0 0 0 7 7

d. Towards Depreciation on Investments

0 0 0 5 0 0 0 5

e. Foreign Currency Assets & Liabilities

N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.

TOTAL 946 1148 453 826 251 593 1148 1381


37

21 Disclosures as per Reserve Bank of India Guidelines:( ` in lacs)

31.03.2013 31.03.2012

a. Capital to Risk Assets Ratio (CRAR) 16.90% 17.69%

CRAR Tier I capital 10.14% 12.41%

CRAR Tier II capital 6.75% 5.28%

b. Movement in CRAR -0.79% -2.22%

c. Total Capital Funds 12812 11084

d. Risk Weighted Assets 75833 62652

e. Investments

i) Book Value 52291 71099

ii) Face Value 51221 70056

iii) Market Value 48035 66216

f.

Advances against real estate, construction business and housing

17733

19104

g. Advances against Shares and Debentures 104 120

h. Advances to directors, their relatives, companies/firms in which they are interested

i) Fund Based 0 0

ii) Non-Fund Based 0 0

i. Average cost of Deposits 7.51% 7.13%

j. NPAs

Gross NPAs 5440 2399

% to Gross Advances 5.95% 3.81%

Net NPAs 4494 1586

% to Net Advances 4.97% 2.55%

38

( ` in lacs)

31.03.2013 31.03.2012

k. Movement in NPAs

Gross NPA

Opening Balance 2399 1140


Less: Closed/Recovered/Written off 855 943

Closing Balance 5440 2399

Net NPA

Opening Balance 1586 680


Less: Closed/Recovered/Written off 255 887

Closing Balance 4494 1586

l. Profitability

Interest Income as a percentage of working funds 9.64% 9.62%

Non-Interest income as a percentage of working funds 0.73% 0.86%

Operating Profits as a percentage of working funds 0.51% 0.97%

Return on Assets 0.05% 0.60%

Business (Deposits + Advances) per employee 514 414

Profit per employee 0.19 2.00

m. Provisions made towards following

a) NPAs 630 353

b) Standard Assets 191 98

c) Diminution in Current Assets 0 2

d) Investment Depreciation (incl amortization) 281 290

n. Commission from Bancassurance Business

a)For selling life insurance policies 72 47

b)For selling non life insurance policies 2 8

c)For selling mutual fund products 2 2

o. Payment of DICGC premium 118 118


39

22 Accounting Standard (AS) 3 - Cash Flow Statement for the year ended 31st March 2013.

( ` in lacs)

Sr. No.

Particulars Mar-13 Mar-12

A Cash Flow from Operating Activity

Increase / (Decrease) in Net Profit 66 98

Increase/(Decrease) in Deposits 14385 8345

(Increase)/Decrease in Advances (28532) 18416

(Increase)/Decrease in Investments 18808 (19312)

Increase/(Decrease) in Branch Adjustment 0 0

Increase/(Decrease) in Reserves & Surplus 281 398

(Increase)/Decrease in Interest Receivable 565 (1161)

Increase/(Decrease) in Interest Payable (6) 59

(Increase)/Decrease in Other Assets (1131) (844)

Increase/(Decrease) in Other Liabilities (384) 126

Net Cash from Operating Activities 4052 6126

B Cash Flow from Investing Activity

(Increase) / Decrease in Fixed Assets (25) (387)

Cash Flow from Investing Activity (25) (387)

C Cash Flow from Financing Activity

Increase in Share Capital (6) 17

Increase/(Decrease) in Borrowings (6970) (4924)

Cash Flow from Financing Activity (6976) (4907)

Net Increase in Cash & Cash Equivalents (A+B+C) (2949) 832

Cash & Cash Equivalents at the beginning of the period 11293 10461

Cash & Cash Equivalents at the end of the period 8344 11293

Net Increase / (Decrease) in Cash & Cash Equivalents (2949) 832

23 Previous year’s figures have been re-grouped / re-arranged wherever necessary to conform to the presentation of the accounts of the current year.

24 During the year 2004-2005 the Registrar of Cooperative Societies (RCS), Pune in response to an application by the Bank, had permitted the Bank to transfer an amount of `1750 lacs from Building Reserve Fund (`1000 lacs) and General Reserve (`750 lacs) to IDR with the condition that the same should be treated as loan and the said amount should be made good

40

in five years. Further, RCS, Pune vide their letter dated 26.12.2005 had permitted the bank to replenish the fund subject to sufficiency of the profits during the period. Till date these funds are not replenished and the five year period has expired on 31.03.2010. The bank has built up other reserves amounting to ` 2365 Lacs (including appropriations of current year) which are more relevant to strengthen the Bank’s net worth during the period of last 8 years. Moreover, in addition to said reserves the Bank has also built up General Reserve Fund by ` 279 Lacs and Building Reserve fund by ` 309 lacs.

In view of the same the Bank in its previous Annual General Meeting has passed a resolution for not replenishing the said reserves. The Bank, however, has written to the RCS for waiver of requirement of building up Building Reserve Fund & General Reserve Fund and reply is awaited.

As per our report of even date As per our report of even date

For V. J. KULKARNI & ASSOCIATES For DEVDHAR JOGLEKAR & SRINIVASANChartered Accountants Chartered Accountants

FIRM REG NO 105448W FIRM REG NO 104330W

CA Chandrashekhar D. Apte CA Vivek JoglekarPartner PartnerMem No. 45943 Mem No. 33631(Statutory Auditor) (Internal Auditor)Place : Mumbai Place : Mumbai

Date : 12th August 2013 Date : 12th August 2013

For and on behalf of the Bank

N. D. BehereChief Executive Officer

N. A. BaldotaChairman

S. B. ChhajedVice Chairman

DIRECTORS

M. P. Baldota A. B. Vakharia A. P. Ahire P. P. Golecha

S. R. Baldota P. J. Mehta M. H. Ratti S. N. Baldota

S. M. Paraande N. B. Rege Prabhakar Chavan

Place : MumbaiDate : 12th August 2013


41

INTERNAL AUDITOR’S REPORT

1. We have audited the Balance Sheet of “THE GREATER BOMBAY CO-OPERATIVE BANK LIMITED” Mumbai as at March 31, 2013, and also Statement of Profit and Loss Account for the year ended as on that date, in which are incorporated the Returns of Twenty Two Branches, and Corporate Office audited by us, with the books of accounts, vouchers and other documents as were available with the Bank and produced before us and after taking into account the reports and observations submitted by us from time to time and the reports submitted by the Concurrent Auditors of the respective branches and subject to Notes in Schedule V, report that:-

2. These financial statements are the responsibility of the Bank’s Management. Our responsibility is to express an opinion on these financial statements based on our audit.

We have conducted our audit in accordance with the standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance; whether the financial statements are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

On the basis of the points indicated above, we report that:

a) We have obtained all the information and explanation, which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) In our opinion proper books of account as required by the law have been kept by the Bank so far as it appears from the examination of those books.

c) The transactions of the Bank, which have come to our notice, have been within the competence of the Bank.

d) The Balance sheet and the Profit & Loss Account dealt with by this report, are in agreement with the books of accounts and drawn up in conformity with the relevant law.

3. i) Certain items of Income & Expenditure as stated under Para (3.a) of the Significant Accounting Policies, are accounted on cash basis as against accrual basis specified under Accounting Standard 9 on “Revenue Recognition” issued by The Institute of Chartered Accountants of India.

ii) The Bank has paid its yearly contribution of `89.29 Lacs to LIC and `3.44 Lacs as premium against the gratuity policy of the staff as per the actuarial valuation done by LIC. The Bank, as per the Actuarial Valuation Reports of Life Insurance Corporation of India (LIC), has provided for `49.21 Lacs on account of Gratuity Liability.

42

4. Subject to scope of our audit and subject to our comments in paragraph 2(i) to (ii) above and our comments and observations in our separate report, observations and to notes forming part of accounts, in our opinion and to the best of our information and according to the explanations given to us, the said accounts give a true and fair view :

i) In the case of Balance Sheet, of the state of affairs of the Bank as on 31st March. 2013

ii) In the case of the Profit & Loss Account, of the PROFIT of the Bank for the year ended on that date.

For Devdhar Joglekar & SrinivasanCHARTERED ACCOUNTANTS

MR. V. V. JOGLEKARPARTNER

MEMBERSHIP NO. 033631FIRM REGN NO. : 104330W

Place : MumbaiDate : August 19, 2013


43

STATUTORY AUDITORS’ REPORT FOR THE YEAR ENDED 31ST MARCH, 2013

(Under Section 31 of the Banking Regulation Act, 1949 and Section 81 (5-B) of Maharashtra State Co operative Societies Act,1960 and Rule 69 of Maharashtra Co.Operative Societies Rules)

To,The MembersThe Greater Bombay Co-operative Bank Ltd., Mumbai.Baldota Bhavan, 117, 3rd Floor, Churchgate, Mumbai – 400 020. Report on the Financial Statements:1. We have audited the accompanying financial statements of the THE GREATER BOMBAY

CO-OPERATIVE BANK LTD.,MUMBAI which comprise the Balance Sheet as at 31st March, 2013 and the Statement of Profit and Loss and the cash flow statement for the year then ended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements:2. Management is responsible for the preparation of these financial statements in accordance

with Banking Regulation Act, 1949 and Maharashtra State Co-Operative Societies Act, 1960 of India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility:3. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the banking company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

6. Opinion In our opinion and to the best of our information and according to the explanations given to

us, the said accounts subject to significant accounting policies and Notes on Accounts forming part of accounts and our comments and observations contained in Audit Memorandum, give all the information as required by the Maharashtra-State Co-Operative Societies Act, 1960, and rules made there-under, in the manner so required, in conformity with the accounting principles

44

generally accepted in India and give a true and fair view:-a. In the case of Balance Sheet, of the State of Affairs of the Bank as at 31st March 2013;b. In the case of Profit and Loss Account of the Profit for the year ended on that date andc. In the case of Cash Flow Statement, of the Cash Flow for the year on that date.d. The Bank has been awarded “A” Audit Classification for the year 2012-2013.

7. Report on Other Legal and Regulatory Requirementsa. The Balance Sheet and the profit and Loss Account have been drawn up in accordance with

the Provisions of section 29 of the Banking Regulation Act, 1949 and the Maharashtra-State Co-Operative Societies Act, 1960, and rules made thereunder.

b. Subject to the limitations of the audit indicated in paragraph 1 to 5 above and subject also to the limitations of disclosure required therein, we report that:

i. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit and have found them to be satisfactory.

ii. To the best of our information and explanations given to us, the transactions of the Bank, which have come to our notice have been within the competence of the Bank and are in compliance with RBI guidelines, as applicable to Urban Co-operative Banks.

c. In our opinion, proper books of accounts as required by the Maharashtra-State Co-operative Societies Act, 1960 and Bye Laws of the Bank have been kept by the Bank, so far as appears from our examination of those books and proper returns adequate for the purposes of our audit have been received from the branches and offices of the Bank.

d. In our opinion, the Balance Sheet, Profit and Loss Account and Cash flow Statement comply with the applicable accounting standards issuesd by Institute of Chartered Accountants of India (ICAI) to the extent applicable.

e. We further report that:i. The Balance Sheet and Profit & Loss Account are in agreement with the Books of Account

maintained by the Bank. ii. To the best of our knowledge and belief and according to the information and explanations

given to us, there is no material impropriety and irregularities in the expenditure or in the realization of monies due to the Bank.

iii. In respect of the accounting standards prescribed by the Institute of Chartered Accountants of India, the bank has complied with the accounting standards to the extent applicable to the Co-operative Banks except the following:-

Observation made by us in Form No 1& 7, the Audit Memorandum (Part A,B, & C) and Long form Audit Report of even date and on the basis of audit procedure indicated above and as required by section 31 of the Banking Regulation Act,1949 as applicable to Co-operative Societies.

FOR M/S. V. J. KULKARNI & ASSOCIATESCHARTERED ACCOUNTANTSF.R. No.105448W

CA. CHANDRASHEKHAR D. APTEPARTNERSTATUTORY AUDITORM. No: 045943

Place: MUMBAI Date: 12TH AUGUST, 2013


45

PR

OG

RE

SS

AT

A G

LAN

CE

Yea

rN

o. o

fM

embe

rsS

hare

Cap

ital (

`)R

eser

ves

(`)

Dep

osits (`

)Lo

ans

&A

dvan

ces

(`)

Pro

fit /

Loss (`

)D

ivid

end

decl

ared

(%)

Wor

king

Cap

ital (

`)

June

196

359

595

,350

23,8

0611

,15,

376

6,88

,764

12,6

535%

14,1

5,84

2

June

197

316

175,

27,6

753,

41,8

631,

02,6

5,65

257

,95,

435

1,36

,095

9%1,

17,5

3,29

5

June

198

341

4847

,40,

850

1,24

,16,

878,

87,9

5,43

67,

29,1

2,40

817

,65,

767

12%

11,5

3,51

,662

mar

ch 1

993

8132

1,38

,82,

925

11,9

4,97

,848

55,4

8,40

,554

44,3

9,28

,397

1,00

,33,

099

12%

77,1

0,86

,661

mar

ch 1

997

1016

82,

00,7

1,77

524

,96,

25,3

601,

71,1

4,42

,546

1,24

,43,

89,9

3580

,37,

967

15%

+3%

2,05

,77,

70,7

49

mar

ch 1

998

1105

82,

21,8

0,30

027

,24,

10,9

492,

20,4

0,26

,514

1,44

,71,

52,5

271,

12,6

0,34

215

%2,

05,9

9,96

,452

mar

ch 1

999

1187

72,

40,7

6,37

530

,26,

92,2

522,

80,1

6,60

,730

1,70

,59,

91,2

351,

20,3

8,28

715

%3,

21,1

4,70

,249

mar

ch 2

000

1296

72,

80,6

7,30

031

,79,

50,1

293,

32,0

6,31

,495

1,88

,80,

23,9

0610

,58,

38,0

8615

%+3

%3,

85,5

0,06

,182

mar

ch 2

001

1425

33,

44,9

2,10

069

,08,

84,7

164,

30,4

4,00

,984

2,71

,38,

96,0

576,

11,5

4,71

715

%+3

%4,

99,7

0,12

,212

mar

ch 2

002

1538

94,

67,2

5,60

064

,96,

15,0

505,

10,8

9,76

,885

3,53

,31,

87,8

1513

,01,

77,9

2015

%+1

0%6,

42,5

8,52

,239

mar

ch 2

003

1691

46,

44,9

9,12

583

,19,

36,5

235,

53,8

0,10

,027

3,62

,43,

88,4

9610

,19,

40,9

5015

%6,

67,5

0,36

,377

mar

ch 2

004

1997

210

,22,

90,2

001,

04,3

4,61

,097

6,83

,29,

21,5

2943

,85,

000,

933

12,0

3,45

,090

15%

9,42

,83,

24,2

56

mar

ch 2

005

2261

912

,79,

82,7

751,

35,3

3,47

,835

7,28

,63,

63,8

374,

61,7

3,19

,414

7,00

,86,

484’

10%

10,9

5,63

,68,

410

mar

ch 2

006

2685

517

,00,

85,5

001,

45,0

6,83

,596

7,73

,25,

25,2

394,

61,7

3,95

,426

1,01

,21,

168

–10

,66,

10,9

2,88

3

mar

ch 2

007

2970

518

,73,

55,6

251,

01,6

6,30

,750

8,18

,86,

15,6

525,

12,9

4,53

,331

11,6

1,66

,475

15%

11,1

4,58

,68,

143

mar

ch 2

008

3119

221

,20,

41,2

1781

,48,

82,9

5610

,00,

92,4

6,38

66,

07,3

0,82

,074

10,9

4,62

,783

15%

12,3

9,67

,60,

727

mar

ch 2

009

3222

323

,12,

65,4

1666

,46,

91,6

6210

,98,

33,8

0,16

37,

45,9

7,41

,825

10,4

6,25

,773

15%

12,6

6,71

,44,

927

mar

ch 2

010

2532

224

,29,

47,0

5555

,51,

49,5

6912

,08,

70,8

4,80

78,

18,0

4,80

,184

7,46

,89,

477

15%

14,6

1,16

,56,

708

mar

ch 2

011

2545

125

,30,

13,6

4064

,11,

64,9

4212

,17,

33,7

6,73

48,

13,3

6,79

,831

10,7

5,83

,470

15%

14,7

8,63

,76,

433

mar

ch 2

012

2500

525

4,71

3,86

867

,79,

25,7

3613

,00,

78,8

3,66

26,

29,2

0,30

,872

9,20

,03,

848

15%

15,1

9,82

,85,

110

mar

ch 2

013

251

70

254

,083

,700

1

,11,

79,7

3,37

3 1

4,44

,63,

91,7

05

9,1

4,52

,78,

714

88,

09,1

18

*6%

16,

34,6

8,53

,561

(* P

ropo

sed)

46

BRANCH NETWORK

Sr. No. Branch Branch Address Phone No. Telefax

No.

1 Andheri (E) Unit No. G - 1, Wing - B, Silver Astra Apt., J. B. Nagar, Andheri (E), Mumbai - 400 059.

65201548 / 65201547 28328106

28370682

2 Bandra Reclamation

Indian Education Society’s Management College `Vishwakarma’, Gate No. 1, VMD Lotlikar Vidya Sankul, Opp. Lilavati Hospital, Bandra Reclama-tion, Bandra (W), Mumbai - 400 050.

61285814/ 6128581661285822/ 61285801

6128581661285822

3 Borivali (E) A - 11, Ratnadham CHS Ltd., Rattan Nagar, Borivali (E), Mumbai - 400 068.

65201873 / 6520187865201925

28905036

4 Bhuleshwar GBCB House, 89, Bhuleshwar, Mumbai -400 002. 61285700 / 61285701 22411210 22408571

5 Bhandup (W) Gurunanak Udyog Bhavan, L B S Marg, Bhandup (West), Mumbai - 400 078.

65201764 / 6520178365201837

25667132

6 Churchgate (E) Baldota Bhavan, 3rd Floor, 117, Maharshi Karve Marg, Churchgate, Mumbai - 400 020.

61285925 / 6128592661285931

22076989

7 Dadar (E) Naoroji House, N. C. Narielwala Agiary Trust Bldg., Mumbai - 400 014.

65202132 / 6520214224112232

24172071

8 Dahisar (E) 6, Sheffield, Ground Floor, Opp. Jari Mari Garden, Anand Nagar, Dahisar (East), Mumbai - 400 068.

64578297 / 64578298 28281991

9 Dombivali (E) Manas Solitaire CHS, Shop Nos. 3, 4, 5 & 6, Rajaji Path, Cross Lane 4, Dombivali (E), Dist. Thane

0251-24302138689933233

0251-2430213

10 Ghatkopar (E) Amrut Kunj, Anjaria Wadi, Dr. Doshi Nursing Home, M. G. Road, Ghatkopar (East), Mumbai - 400077.

65200394 / 6520070465200217 / 21027932

21028906 21027625

11 Goregaon (W) 110, Jawahar Nagar, Goregaon (W), Mumbai - 400062.

65201562 / 65201556 28744741

12 Kandivali (W) Bhoomi Apartments, Bldg. No. 8, Dahanukar Wadi, Sector 4, Panchsheel Enclave, Kandivali (W), Mumbai - 400 067.

29671125 / 65201667 65201668

29671095

13 Kharghar Hari Om Heritage, Shop No.1 & 2, Ground Floor, Plot No. 8, Sector 21, Kharghar, Navi Mumbai - 410 210.

64550397 / 64550398 27742499

14 Malad (W) Sarvodaya Bhuvan, Shop No. 4, Ground Floor, Ramchandra Lane Extn., Malad (W), Mumbai - 400 064.

28807088 / 2882316364570793 / 64570794

28823163

15 Mira Road (E) Shop No. 1&2, Ground Floor, Nirmal Nagar Co-op Hsg Soc Ltd., Saibaba Nagar, Mira Bhayander Road, Mira Road East, Dist Thane- 401 107.

28555970 / 28555971 28555971


47

Sr. No. Branch Branch Address Phone No. Telefax

No.

16 Nerul (W) Shop No 10, 11, 12, 13, Amrita Sadan, Sector-22 Opp Nerul Railway Station, Nerul (West), Mumbai 400706.

65201650 / 65201644 27711131

17 Thane (W) Shop No. 2 & 3, Prince Palace Bldg., Next to Khandelwal Sweets, Near Aradhana Theatre, Panchpakhadi, Thane (W) - 400 602.

65201939 / 6520197465202101

25363703

18 Vasai (W) Regency Co-op. Hsg. Scty., Meena Nagar, Ambadi Road, Vasai (W), Dist. Thane - 401 202.

0250-2337442/234032197020366889702047788

0250 -2337 442

19 Versova Sea Pearl Apartments, J. P. Road, Opp. Pratap Colony, 4, Bunglows, Versova, Andheri, (W), Mumbai - 400 058.

65201604 / 6520159365201619

26346248

20 Vile Parle (E) Meghmala Co-op. Society, Sant Janabai Road, Vile - Parle (E), Mumbai - 400 057.

64570790 / 6457079164570792

26191318

21 Vashi Om Niwas, Opp. Mega Mart, Plot No 186, Sector-12, Vashi, Navi Mumbai 400 705.

65201382 / 6520138365201448

27884402

22 Wadala (W) 198, Rattan Bhavan, D.S. Barretto Road, Wadala, Mumbai - 400 031.

6455644024125638 / 24112975

24172248

OTHER OFFICES

Sr. No. Departments Address Phone No. Telefax No.

1 Corporate OfficeBaldota Bhavan, 3rd Floor, 117, Maharshi Karve Marg, Churchgate, Mumbai - 400 020.

61285900 22076989

2 Depository Cell5/6, Ganesh Anand CHS Ltd, Anand Nagar, C S Road, Dahisar East, Mumbai - 400 068

28283696 / 28283698 28283699 / 28963285

28963947

3Personnel and Administration Department

5/6, Ganesh Anand CHS Ltd, Anand Nagar, C S Road, Dahisar East, Mumbai - 400 068

64550520 / 64550521

64550522

28963947

4 Clearing Dept.GBCB House, 89, Bhuleshwar, Mumbai - 400 002.

22403822 / 61285710 61285745

22403825 22676544

5Stressed Accounts Department

GBCB House, 89, Bhuleshwar, Mumbai - 400 002.

61285712 / 61285713 61285714

22411210

6 Data Centre Om Niwas, Opp. Mega Mart, Plot No 186, Sector-12, Vashi, Navi Mumbai - 400 705

65201373 / 65201377 65201369

27896943

48

Sr. No. Departments Address Phone No. Telefax No.

7 Knowledge Centre

Om Niwas, 2nd Floor, Opp. Mega Mart, Plot No 186, Sector-12, Vashi, Navi Mumbai - 400 705

27884412 27896943

8 CPO Amrut Kunj, Anjaria Wadi, Dr. Doshi Nursing Home, M. G. Road, Ghatkopar (East), Mumbai - 400 077.

21027932 / 21027625 21028906

9 Comm. Loan - Relationship Cell

Indian Education Society, Manikrao Lotlikar VidyaSankul, Opp. Lilavati Hospital, Bandra (W), Mumbai -400 050.

61285831 / 61285817

61285815

61285832

10 Credit Admn & Documentation Cell

Indian Education Society, Manikrao Lotlikar VidyaSankul, Opp. Lilavati Hospital, Bandra (W), Mumbai -400 050.

61285820 / 61285821 61285832

11 Housing & Retail Cell -

Indian Education Society, Manikrao Lotlikar Vidya Sankul, Opp. Lilavati Hospital, Bandra (W), Mumbai - 400 050.

61285818 / 61285825 61285832

12 Forex Dept GBCB House, 89, Bhuleshwar, Mumbai - 400 002.

61285704 22411210


49

Customized Health Check Up at Apollo Health and Lifestyle Limited, MumbaiWith the end of Diamond Jubilee Year celebration of Greater Bank, the Special Health Check Up facility at SevenHills Hospital, Andheri, Mumbai has drawn to a close as it had been introduced only for 1 year. Continuing with the earlier practice of providing basic Health Check facility for Members, the Board of Directors have now approved a tie-up with Apollo Health and Lifestyle Limited (AHLL) to offer Customized Health Check Facility for Members & Employees aged 40 years and above,** at Apollo Health & Lifestyle Limited, Mumbai. Members can avail this facility at any of the below mentioned clinics as per their choice and convenience with prior appointment.

Apollo Clinic Addresses at Mumbai, Thane & Navi Mumbai

The Apollo ClinicOne World Impex Pvt. Ltd.The Emerald, Plot No. 195, Sector-12, Beside Neel Siddhi Towers, Vashi, Navi Mumbai- 400 703.Tel. : 022-27881322/3/4

The Apollo ClinicLynx HealthPlus Service Pvt. Ltd.Z-5, Z Shopping Centre, Flower Valley, Khopat, Thane (W), Maharashtra-400601Tel.: 022-25470011

The Apollo ClinicOne World Impex Pvt. Ltd.Madhuvan Building, 1st floor, M.G. Road, Kala Hanuman Mandir, Kandivali (W), Mumbai 400 067.Tel.:022-28617416/17

The Apollo ClinicThe Wellness Clinic, 1st floor, ‘A’ Wing, Ambika Apartments, Mahakali Caves Road, Andheri (E), Mumbai -400 093.Tel.: 022-28262741/42

The Apollo ClinicLushgreen Healthcare Pvt. Ltd., Gala 12, 13, Swapnashilp CHS, Building No. 41, Opp. Tilak Nagar High School, Near Tilak Nagar Police Station, Tilak Nagar, Chembur – 400 089.Tel.:022-25290884/85

CusToMized HeAlTH CHeCk (CHC) PACkAge for MeMber & eMPloyees

1. Heamatology 6. Cardiac Evaluation

CBC ECG

2. Liver Profile 7. Radiology

SGOT,SGPT Chest X-ray PA View

3. Diabates Profile 8. Other Additional Tests

Blood Sugar-Fasting & PP Complete Urine Analysis, Thyroid -T3 T4 TSH

4. Kidney / Renal Profile 9. Consultations

Serum Creatinine & Serum Uric Acid Complete Physical

5. Lipid Profile Ophthal or Dental

For appointments / any other information, you are requested to get in touch with Shares Department, Greater Bank, Corporate Office at 61285928** Terms & Conditions apply

50

Greater Bank Mobile Banking Service…. A Great Way to Stay Connected with your Bank

Greater Bank offers you ‘GB-MConnect’, a mobile banking application that lets you transfer funds, pay bills, check your balance or view the last 5 transactions of your account while you are on the go making banking convenient for you. An amount of up to Rs. 50, 000/- per day can be transferred from /to accounts.

Key Features• Free of charge facility for Greater Bank customer• Instant inter bank fund transfers• 24 x 7 x365 availability• Credit and Debit SMS confirmations to sender and receiver• Simple & easy to use• Time & cost saving• Safe & secure

How to Register for Mobile Banking 1. Fill up Registration form available at branches / Bank’s website2. Get Mobile Money Identifier (MMID) and MPIN through SMS alert from Bank 3. Immediately change MPIN as per instructions provided in SMS4. Download Mobile Banking Application from Bank’s website on to your mobile

How to send Money1. Get Beneficiary’s Mobile number and MMID.2. Send money to the beneficiary through SMS using text message or Mobile Banking Application menu 3. Check for confirmation SMS

How to Receive Money1. Share your Mobile Number and MMID with sender.2. Ask the sender to send money.3. Check the SMS alert for Credit confirmation message.

Some Dos and Don’ts1. Please do change your MPIN regularly.2. Keep your Password complex. 3. Please do not divulge/ reveal your Password to anyone, even to Bank Staff.4. Please do not disclose your Password/s on emails.

We welcome your suggestions/ feedback, for which you may write to us at [email protected]


51

FORMAT FOR MEMBERSMembership No.

Name

Address

Mobile No.

Landline No.

Email-ID

The above information can be sent at [email protected]

The Greater Bombay Co-operative Bank Ltd.(SCHEDULED BANK)

Corporate Office: Baldota Bhavan, 3rd Floor, 117, M. K. Marg, Churchgate, Mumbai-400020. Tel: 61285900 Telefax: 22076989

ELECTRONIC CLEARING SYSTEM - Details for Dividend

Kindly credit my dividend for the shares allotted to me to my Bank account (details given below) through Electronic Clearing System:

**Bank Name :

Branch Name :

Branch Code :

9 digit code as appearing on the MICR band of the cheque supplied by Bank

Account Type : Saving Current CashCredit Loans

Folio No. :

Account No : (As appearing in the cheque book)

Please attach a photo copy of a cheque or blank cheque duly cancelled for ensuring the accuracy of the Bank’s name, branch name,code number and account number.

**GiveThe Greater Bombay Co-op Bank Ltd. Account No. as far as possible.

Name of Shareholder(s) Signature (s)

1)

2)

52

INFORMATION FOR MEMBERS

1. CHANGE OF ADDRESS:

Please intimate to us any change in your address and quote the Reg. Folio No. given on your share certificate while writing to us.

2. SHARE CERTIFICATES:

If you have not collected your share certificates so far, you are requested to collect the same from the respective branches, without further delay.

3. UNCLAIMED DIVIDEND:

If you have not collected your dividend for the year ended 31st March 2010 (2009-10), kindly collect the same latest by 31st December, 2013 failing which unclaimed dividend for the same is liable to be forfeited in terms of Bye-Law no.46 (iv) of our Bank.

4. DIVIDEND THROUGH ELECTRONIC CLEARING SYSTEM:

We are happy to inform that the Dividends will be distributed through the RBI Electronic Clearing System (ECS Credit). Kindly help us to deliver the dividends effectively by duly completing the ECS Mandate form which is given at the end of the Annual Report. The form can be submitted to any of our branches.

5. RATANCHAND H. BALDOTA MEMORIAL AWARD:

We are happy to inform that from the year 1998, we have started giving the above mentioned Award to ten wards of our individual members who have secured maximum number of marks above 75 % in order of merit in the Xth Standard Board Examination. The members whose wards satisfy the above conditions are requested to contact any of our branches for further details.

6. MEMBERS HOLIDAY HOME AT PANCHGANI-MAHABALESHWAR:

Bank has made a tie-up arrangement with Co-operative Banks’ Employees Union for providing holiday home facility to its members at ‘Anand Sagar Vishram Gruh’, Panchgani – Mahabaleshwar. Members can avail the Holiday Home facility of Greater Bank for their weekend / holidays. The holiday home is situated at Dandeghar, Panchgani, Dist. Satara. For details you can contact the nearest branch.

7. APPEAL TO MEMBERS:

Kindly provide your e-mail id and mobile / contact no. in the format given on page 51. This will enable the Bank to provide prompt information regarding important news, updates, announcements, SMS alerts etc. This information may be sent at [email protected]

8. SUGGESTIONS WELCOME:

If you have any useful suggestion(s) to offer, to improve OURSELVES, you are most cordially invited to write to us at [email protected]. Please do not forget that this is “YOUR OWN BANK” and it is our earnest endeavour to make “THE BANK” an institution which you can bank upon with confidence.

Documents

THE GREATER BOMBAY CO-OPERATIVE BANK … annual report_2012...61ST ANNUAL REPORT 2012-13 3 NOTICE Notice is hereby given that the 62nd Annual General Meeting of The Greater Bombay