Introduction to The Gujarat State Co operative Bank Ltd.
The Gujarat State Cooperative Bank was established in year 1960 and registered under the Gujarat State Cooperative Societies Act 1961. The Bank is already enjoying the status of a Scheduled Bank and having requisite Banking License. Nearly 28 Lacs farmers of 8100 PACS affiliated with GSCB through 18 DCCBs and a co operative banking union are enjoying credit facilities. GSCB has a consistent history of receiving awards from NAFSCOB for its best overall performance and corporate governance . It has been receiving such awards in the past as well as for last four consecutive years.
It has also received the award as the Institution among the Best Performing Co-operative Organisation from the National Co-operative Union of India New Delhi.
Specially for Gujarat Farmers who visit to Ahmedabad or Gandhinagar for their routine or special work, Bank has establish a Farmers Hostel having 58 rooms with capacity of 300 persons with in house catering facility at a concessional rate. By establishing / providing such facility Bank’s aim is to provide affordable accommodation in Ahmedabad city to the farmers.
Modernization & Adoption of Latest Technology.
- The GSCB provides services on CBS platform, equipped with all latest technology in the completely air conditioned environment.
- Latest technology Adoption by obtaining membership of RTGS & NEFT services.
- Cheque Truncation system that enables fast and easy clearing is being made mandatory in a phased manner for all the banks. GSCB has taken the Membership of NPCI and established the CTS centre at its new HO Building. Since the same needs heavy investment, we as Apex Bank also provide CTS sub membership to other DCCBs and Urban Co.op. Banks so as to make it available to all banks.
- We provide the facility of CSGL – Constituent Subsidiary General Ledger Accounts for investment in Govt. Securities etc.
- Bank’s New Building is equipped with latest technology and amenities including auditorium and video conferencing facilities.
- GSCB is Creating one umbrella cover for the co-operative banks for technology & development .Towards this objective, it has achieved.
- Core Banking Solution (CBS) compatibility for GSCB and all the DCCBs through NABARD.
- Offering RTGS & NEFT Sub membership to other banks.
- GSCB has given Software to all PACS of the state at extremely subsidized rates & also provided soft loan for Hardware procurement so as to enable the PACS to comply accounting under CAS/ MIS as per the Vaidyanathan package
Refinancing for Self Help Groups (SHG) & Joint Liability Groups (JLG)
GSCB provides encouragement, guidance and facilitates refinancing for Self Help Groups (SHG).An amount of Rs.16.35 crores has been provided to Total 30652 Self Help Groups (SHG) attached to DCCBs during the year. Bank has also conducted workshops at different levels to provide necessary financial support to Joint Liability Groups (JLG) and efforts are being made to increase the finance of DCCBs under the NABARD’s Scheme.
Apart from these various initiatives like supporting DCCBs for constituting Farmer’s Clubs and encouraging DCCBs to establish Financial Literacy Centers at DCCB level and also at block levels form integral part of GSCB’s efforts in strengthening of the co-operative structure in the Gujarat state.
PACS to function as Multi service Societies (MSCs)
The PACS of theDCCBs and its member farmers can flourish economically when they take up other business activities over and above agricultural activities. Over and above arranging the Exposure visits of the secretaries of the PACS of different districts to the multi service / good working PACS, this bank in co-ordination with NABARD provides financial incentives and extensive guidance to the CEOs and the officials of the DCCBs through training seminars with a view to aspiring them encourage their affiliated PACS to function as Multi service Societies (MSCs).
GSCB has given assistance / grant for vehicles to the DCCBs to the tune of Rs 11 lac per DCCB to be used for the purpose of recovery.
Relaxation of the directives under Sec 35A applied on Panchmahal DCCB
The GSCB made aggressive and committed efforts with constant guidance , monitoring & review of the Panchmahal DCCB resulting in the removal of the Directives u/s 35-A levied on The Panchmahal District Central Co. Op. Bank . Such removal has enabled the bank to start its banking activities and thereby restore the public trust & faith in the co-operative sector. The Panchmahal DCCB also got the banking license and has completed its successful operations with the operating profit for the year ended 31st March 2012. It is a trend setting case in the co-operative banking sector.
Weak Bank Up gradation and efforts to further raise the CRAR & profitability of the weak banks
GSCB renders constant guidance, monitoring & weekly review by a Weak Bank Committee and an inspection team headed by a manager. As a result, the 5 weak banks have also received the banking license . Hence all DCCBs of the state are now having Banking License. These efforts are vigorously continued so that they can stand in competition with the other banks. Except 1 DCCB, all the DCCBs of the state maintain more the 7 % CRAR